<img src="https://secure.leadforensics.com/133892.png" alt="" style="display:none;">

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:

Stephan-RozowStephen Rozow

General Manager, Mach Medical

Matthew BoeseMatthew Boese

V.P. Digital Advisory, Columbus 

Manuel-AdumManuel Adum

Digital Advisory Team,
Columbus

StefanStefan Siwiecki

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

Watch Columbus Life Sciences Summit Event Recording

Columbus helps companies transform, maximize and future-proof their businesses through digital innovation. We offer a comprehensive solution portfolio with in-depth industry knowledge, extensive technology expertise, and profound customer insight that help customers thrive far into the future. Reach out to us at us-marketing@columbusglobal.com for any comments or inquiries.

Topics

Discuss this post

Recommended posts

Agility is the ability to move quickly – to be nimble in the face of change. Agility has been a particular focus for businesses since the COVID-19 pandemic hit. Those unique circumstances and the devastating aftermath – especially for the supply chain – have only brought the need for greater agility home. In fact, in Deloitte’s 2022 Manufacturing Industry Outlook Report, researchers wrote: “Business agility can be critical for organizations seeking to operate through the turbulence from an unusually quick economic rebound—and to compete in the next growth period … as leaders look not only to defend against disruption but strengthen their offense.” What agility looks like for businesses will depend on that company’s goals, market and customer needs, but Forbes defines agility in business as the ability to make rapid changes before your competitors do – and to ensure that those changes are done the right way. In 2020, businesses had to pivot swiftly. In 2021, companies were treading water, getting comfortable with their new normal. But in 2022, businesses that have fully embraced a cloud-based foundation will have the advantage. Manufacturers and distributors need to be able to anticipate change – not just react. With Microsoft Dynamics 365 cloud solutions, businesses gain the collaboration, ease of access and timely data required for agility in today’s market.
Cloud-based ERP solutions come with a host of benefits: They’re scalable and flexible, and team members can easily access information from anywhere at any time.
To break through siloes, more companies are using process orchestration to link front- and back-end business applications and teams. Cross-functional teams that use data and technology to drive shared business outcomes have become more common, and low-code and no-code tools have quickly grown to fill gaps in applications.
Companies implement or upgrade ERP solutions to the cloud improve workflows, uncover new opportunities for growth, drive process efficiencies and free up employees’ valuable time for other critical tasks.