After Propel Software implemented PIM software, Med-Tech Innovation News’ sister publication, Medical Plastics News, asked the company how this would affect the medical plastics sector.
1. You mentioned seamless delivery of accurate and customized products across all sales channels. Could you elaborate?
Propel Software connects all regulatory and compliance documents to enable rapid expansion into new markets. Product information is kept within one source, providing the ability to tailor product content to customer requirements for each channel to accelerate growth. Hearing aids, for example, require different content for in-store shoppers and content service providers.
Propel manages sources of truth throughout the product lifecycle, ensuring cross-functional teams such as sales and marketing have the right information, approved content, and at the right time. Bridge the gap between product and commercial teams to keep revenue growth at the center of your product strategy. To further illustrate this, medical device company Inari Medical needed to rapidly expand the number of products and engineers it needed to move to a traceable digital platform. By deploying Propel’s software, Inari was able to speed up the document management process and shorten the change order cycle time. This accelerated product introduction, expanded the market, and increased customer satisfaction.
2. What makes this product different compared to others saying the same thing?
Propel independently manages the entire product, including quality, suppliers, distribution, merchandising and, of course, customers. Bridging the gap between product and commercial teams, prioritizing cost and efficiency, not just revenue, as a critical part of a successful product strategy. Another differentiator is that marketing, merchandising, and go-to-market (GTM) teams are involved in product information from the beginning, enabling the new product development (NPD) process to launch faster, increase revenue streams, and and lead to improved outcomes.
3. What kind of challenges does this address?
Bridging these gaps and delivering customer lifetime value between product and commercial teams requires common platforms, cloud availability, and value chain collaboration. This ensures that value plays, such as medical device marketing claims, are approved and accurate and consistent across all sales channels. A key added value is the assurance of marketing law and regulation (MLR) approval prior to release. Track Everywhere Claims is used across products and assets to help you respond quickly to ongoing changes and issues that may arise. It also shortens the time from incident to resolution, minimizes the cost of poor quality, and increases customer satisfaction. It also collects Voice of the Consumer (VoC), quickly investigates issues and non-conformances, determines reportability, and stays informed of impacted products and documents and whether closed-loop corrective action is required for the company. to meet regulatory compliance. to correct.
4. How does this relate to medical plastics?
Supplier management is one of the critical processes, especially today, at risk of increased availability, offshoring and costs. This requires seamless collaboration with original equipment manufacturers (OEMs), distributors, and the entire value chain across products, processes and documents. Propel enables enterprise partner communities to provide secure access to relevant information across their supplier base. As a result, by accelerating collaboration between suppliers and manufacturers, securely sharing intellectual property (no emails or drive sharing required), and ensuring everyone is working on the correct product and quality data, Cycle time is reduced. All of these help suppliers improve responsiveness and performance.
Many medical device companies were affected by the pandemic as supply chains stalled and inventory shortages became the norm. By having a cloud-based product and quality platform, a medical device company maintains business continuity by maintaining seamless connectivity between manufacturing teams, third-party logistics, and supply his chain partners. I can do it. With inventory knowledge at all times, companies no longer have to turn around and make a decision to stop shipping.