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Every business knows the importance of a proper inventory. Without one, a business would not have a proper tally of its assets and properties. They would not be able

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

to keep their accounting books straight.

Broken and lost equipment would remain forgotten and uncompensated for. And the business would not have assurance of how m

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

Examples of combination products may in

uch property they can use to forward their businesses. Keeping inventories may take much time and effort, but every good business owner knows it is well worth its ex

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

pense.

Almost as bad as having no inventory is having wrong inventory. If the people in charge of keeping a company’s inventory do not do their job well, the busine

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

ss in question stands to make decisions based on wrong data.

The company may have trouble accounting and keeping with the law too. Only when a proper inventory syst

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

Combination pro

m is implemented can the business hope not to lose time and effort maintaining an accurate and dependable inventory.

You can avoid these problems with inventories if

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

with the help of some simple tips. Inventory keeping does not have to be a back-breaking, menial job that is, more often than not, flawed. They can actually be a s

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

treamlined, organized, and beneficial activity for any company.

Inventory Keeping Tips

1. Keep Every Document That Lands in Your Hands

This cannot be stressed enou

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

gh. You must keep every receipt, every document, and every transaction evidence you can get your hands on. If the transaction does not give you a receipt, you must

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

ask for one.

Remember that every business should have receipts and cash disbursal sheets that will help you keep track of every spending and every earning. This wil

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

help you identify your possessions by purchase date and by supplier, and will make inventory keeping easier to manage and more comprehensive.

For purchases or expen

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

Following aspects would a

ses that do not issue receipts, you may at least jot down on a notebook details regarding the items bought.

You must organize these documents according to relevant c

dd to the challenges in developing combination products:

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

ategories. Store them in a safe area that allows for easy retrieval and bookkeeping.

2. Mark Them

Just as ranchers brand their cows, so can you brand your equipmen

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

t as a mark of ownership. But, of course, you do not have to use searing iron to do so, a sticker or marker will do. The brand should show who owns the item, and th

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

e control numbers to identify the item in the inventory.

This activity helps deter thieves from pilfering equipment from your business. Your brand has to be permanen

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

, though, to act as a deterrent. This activity also helps you find out which equipment have already been accounted for.

3. Keep your inventory up-to-date.

Some pe

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

Professional from academic institutions, pharmaceutical industries, health care indust

ople content themselves with doing one high-visibility inventory and forget that they did the activity at all. Inventory keeping is a constant process. You must che

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

ck the inventory and actual item existence to see if there are any missing, or damaged items that are unaccounted for.

This will verify the accuracy of your inventor

.

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

y. You may have to update you inventory and the branding of the items in your business.

4. Put Someone in Charge

Someone has to oversee the inventory keeping activ

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

Companies that provide selfless information through particip

ities of a company. Do not scrimp on budget and fail to allocate resources for the activities. Remember that they are an important part of the business organization

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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