Main Subject - Business

E-procurement helps companies cut costs and increase productivity by implementing automa

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

tion in purchase process. This automation reduces overheads and wastages that usually oc

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

ur in traditional purchases. In spite of the slowing global economy, more and more compa

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

ies are awakening to the benefits of automation. Numerous software companies cater to th

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

procurement needs by providing quality e-procurement services. A good software managing

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

online purchasing handles all aspects of the purchase process, ranging from the requisit

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

ion to the arrival of goods. Standard e-procurement software features RFQ (Request For Q

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

otation), automatic bidding and automated negotiation tools.

There are many e-procureme

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

t service providers. The service provider generally takes care of the implementation and

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

management of the e-procurement system. It needs great expertise and a sound knowledge o

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

the company’s requirements to implement purchase automation effectively. E-procurement

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

services are offered for either a monthly or yearly service charge. The software handle

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

asks ranging from preparation of the inventory to the delivery of the goods. The makers

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

f the software also provide onsite training for handling the system. Most e-procurement

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

ervices providers design their system to execute continuously in the 24 hour x 7 day mod

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

l. The system handles the whole process with fewer human interventions. Most e-procureme

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

nt software is flexible enough to adjust according to the company’s business nature.

Th

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

overall benefits reaped from e-procurement services far outweigh the investments made i

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

to the system. E-procurement services enable a company to save time, money and large amo

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

nts of paperwork. In large organizations, this savings may amount to millions of dollars

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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