News Placeholder - Survey reveals more than 60% of Medical Device companies believe labeling is business critical

Survey reveals more than 60% of Medical Device companies believe labeling is business critical

A recent survey into the key labeling challenges for the medical device and life sciences industries in 2015, has identified regulatory compliance and supply chain efficiency as the key drivers for organizations needing to change or adapt their packaging and labeling operations.

The survey, carried out by PRISYM ID, a leading provider of turn-key labeling solutions for the medical device and life sciences industries, identified regulatory compliance, global standardization of labeling processes and managing label changes as the three most important challenges for the coming 12 months. With Class II UDI regulations requiring compliance in 2015 and 2016, it’s no surprise that this continues to be a priority for many companies.

More than 60% of those companies surveyed cited the labeling of products as ‘business critical’ to the supply chain and their organization. Maintaining an efficient supply chain is widely acknowledged as a key strategic imperative for businesses across the global medical and life science sectors. Companies are under intense pressure to reduce costs, curb wastage and increase productivity – and to develop more agile operations that can respond to changes in the global marketplace. Around 70% of companies suggested that they would need to make changes to existing operations in order to meet the regulatory demands.

Perhaps more concerning however is that around 40% of those organizations surveyed were either not confident or unsure as to whether their existing labeling processes were sufficient, which suggests there is still some work to be done in order to control these issues.

Warren Ward-Stacey, Sales Director at PRISYM ID commented: “With the recent changes in regulatory compliance – particularly UDI – it is not surprising that this is still high on the agenda for many organizations. However, organizations should feel more confident in their systems and processes, and with increased market changes and a competitive landscape, this is something that must be addressed now.

“Those in the medical device and life sciences industries should look at their current supply chain operations and consider whether their business processes can be reengineered to deliver renewed efficiency and value. By partnering with a technology provider that understands the environment, they can ensure they have a solution to suit the varied challenges that they will undoubtedly face in coming years.”

PRISYM ID’s revolutionary solution PRISYM 360 allows for integration with UDI submissions providers to deliver a streamlined end-to-end submission process that supports compliance and helps ensure label integrity. In a direct response to client feedback, PRISYM ID developed PRISYM 360 to address the key issues for medical device and pharmaceutical companies. This efficient solution removes the challenges of UDI compliance, language management and label defect control and simultaneously reduces unnecessary product recalls, increases supply chain efficiency and ultimately improves patient safety.