The constant evolution of the Life Sciences industry is steadily making it one of the most strictly regulated ones in the world. An increasing count of novel disease-causing pathogens, long-drawn drug development processes and clinical trials, highly mechanized manufacturing and product tracking processes, a changing political and policy landscape, and consumers’ changing needs are all contributing to this increasing stringency in compliance requirements. The question is - How are advances in technology helping businesses in this industry stay ahead of the curve when it comes to regulatory policy?
Mach Medical, an orthopedic medical device contract manufacturer, intends to revolutionize the orthopedic supply chain by using Microsoft technology through its partnership with Columbus. Here’s the expert speak on the topic:
General Manager, Mach Medical
V.P. Digital Advisory, Columbus
Digital Advisory Team,
Enterprise Account Executive, Columbus
In the Columbus Life Sciences Summit 2020’s opening talk, Steve and Matthew underlined the crucial factors one must consider while making decisions around technology solutions in the Life Sciences industry.
Steve highlighted the problem areas that led to the Mach Medical- Columbus partnership, resulting in the former upgrading its ERP solution to Microsoft Dynamics 365 Finance and Operations. He explained how, with Columbus' expertise, Mach Medical plans to leverage Microsoft Dynamics 365 Finance and Supply Chain Management, and Azure Machine Learning, to create advanced analytical models that will be central to its goal of lowering inventory and per-part manufacturing costs.
This session also emphasized the need for industry-specific solutions and the importance of a cohesive tech stack. Steve talked about how evolving technologies can benefit end users, and what will be a realistic timeline to set up Dynamics 365 Finance and Operations for organizations in this space.
In the Microsoft Dynamics Data and Analytics Demo that followed, Matthew and Manuel demonstrated how, after defining the business problem, users could configure Microsoft Dynamics 365 Finance and Supply Chain Management to make relevant data available for analysis. They also explained how to organize datasets to train different Machine Learning (ML) models by setting up 'Build Your Own Device' (BYOD) with Azure SQL, make data-based predictions, and create Power BI dashboards and reports.
Towards the end, in the Tracking and Tracing in Microsoft Dynamics 365 Demo, Stefan talked about the Life Sciences industry cycle, common challenges, and an evergreen approach to overcome these issues. He spotlighted the options that can be made available through Microsoft Dynamics 365 Supply Chain Management such as order booking, tracking test results, and updating attributes and results straight from the app.
Explore all content from the Life Sciences Virtual Summit
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