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Operating within the ever-changing consumer electronics market, cellular retailers face unique merchandisi

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

ng challenges that extend beyond the typical lost sales due to out of stocks and markdowns from excess inv

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

Examples of combination products may in

ntory – their business is susceptible to handset design trends, emerging technologies and of course, passi

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

g fads.

When planning merchandise, however, retailers are not completely powerless. Business Intelligence

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

(BI) software, with its predictive analytics, helps retailers improve their merchandising processes to id

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

Combination pro

ntify hidden opportunities and eliminate lost sales and markdowns.

Traditional CRM offerings, while effec

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

ive at identifying what customers have purchased on past visits, are unable to predict what customers will

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

want the next time they come in. This is where BI comes in.

Instead of simply determining which product

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

s selling well, BI technology allows you to dig further into sales and customer data to identify where thi

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

product sells well, who is selling it, and why it’s so popular. With this added knowledge, managers and e

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

ecutives can tailor merchandising (i.e. inventory and store layout) efforts to accommodate different deman

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

Following aspects would a

d levels across the retail chain. As a result, the company can also adjust marketing, product promotions,

dd to the challenges in developing combination products:

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

nd even sales contests accordingly.

“Business intelligence applications take advantage of multi-departmen

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

al data and make results more trustworthy, requiring less manual intervention,” writes Greg Belkin, resear

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

ch analyst with Aberdeen Group.

“This involves extending promotion, pricing, assortment, presentation, an

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

in-stock decision-making farther than traditional management software such as advanced planning and reple

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

Professional from academic institutions, pharmaceutical industries, health care indust

ishment systems that include crucial historical and operational data from other departments.”

RetailiQ’s

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

advanced BI module gives you an instant look at sales performance and inventory from the entire organizati

.

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

n. It also allows you to create custom reports to gauge sales productivity and product profitability over

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

Companies that provide selfless information through particip

ime – so key pieces of information, like who’s selling well and what product is hot, are just a click away

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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