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Digg It - IT Expenditure - Why Businesses Spend Huge Amounts on Ineffective IT Investments
Another IT White Elephant!
It seems that almost every day we read in the newspapers about another hideously over budget IT project that doesn't achieve its expected benefits. The ones we read a
It seems that almost every day we read in the newspapers about another hideously over budget IT project that doesn't achieve its expected benefits. The ones we read a
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
bout are usually major multi-million pound projects in the public sector, however this is only the tip of the iceberg.
Many more projects achieve similar results in the private sector, in organisation
Many more projects achieve similar results in the private sector, in organisation
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
s large and small. These may be anything from the purchase of a new off-the-shelf accounting package for an SME, or a large-scale fully-integrated ERP implementation across multiple sites and countries
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
These do not usually make the headlines due to the commercially sensitive nature of this information.
Does this mean that the technology is over-rated or that we cannot manage IT implementations or i
Does this mean that the technology is over-rated or that we cannot manage IT implementations or i
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
s there something fundamentally wrong with the approach?
Where are we going wrong?
"Computers make it easier to do a lot of things, but most of the things they make it easier to do don't n
Where are we going wrong?
"Computers make it easier to do a lot of things, but most of the things they make it easier to do don't n
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
eed to be done."
Andy Rooney, US news commentator (1919 - )
I wouldn't go as far as the above comment, however there is an element of truth in it.
Typically the IT implementation is seen
Andy Rooney, US news commentator (1919 - )
I wouldn't go as far as the above comment, however there is an element of truth in it.
Typically the IT implementation is seen
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
as the solution to the particular problem (or problems) being addressed, but this is rarely the case. Often the introduction of an IT "solution" can compound a problem as there is now less opportunity
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
for the human intervention that previously stopped problems from becoming crises.
The problems usually lie in the business processes (both formal and informal), irrespective of whether these are carri
The problems usually lie in the business processes (both formal and informal), irrespective of whether these are carri
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
ed out by computers or human beings. Automating these processes can simply have the effect of making the problems happen faster!
The obsession with IT as the solution to every major business issue is
The obsession with IT as the solution to every major business issue is
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
ompounded by the marketing departments and sales people of software developers selling it as such. Until executives address the underlying processes first, we will continue to see streams of failed, ex
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
pensive IT projects.
Addressing the real problem
To take a process approach to the problem, we need to understand (in some depth) the informal processes carried out every day by employees. The
Addressing the real problem
To take a process approach to the problem, we need to understand (in some depth) the informal processes carried out every day by employees. The
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
se are not the processes that managers think they carry out, and are rarely as laid out in the ideal world of an ISO manual. We regularly find, when working with clients' employees, that managers are u
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
aware of a large percentage of the processes carried out in ensuring that the job gets done. This is not a criticism of the managers - the level of information overload that this would involve would re
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
nder them ineffective.
Working with employees so that they can map out their processes in this level of detail and re-engineer them to resolve the perceived problems can have a radical effect with no
Working with employees so that they can map out their processes in this level of detail and re-engineer them to resolve the perceived problems can have a radical effect with no
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
IT expenditure.
Targeted IT Expenditure
So far I have probably given the impression that I have a "downer" on IT. This could not be further from the truth - the problem I have is with the way
Targeted IT Expenditure
So far I have probably given the impression that I have a "downer" on IT. This could not be further from the truth - the problem I have is with the way
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
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
T expenditure is usually approached, and the problems that this approach creates.
Having addressed the process issues, IT expenditure can then be used to facilitate the new process, targeting those ar
Having addressed the process issues, IT expenditure can then be used to facilitate the new process, targeting those ar
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
eas that would benefit most and significantly multiplying the benefits of the process improvement exercise itself. This expenditure can often be in entirely different areas to those originally envisage
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
d.
At Feechan Consulting, we are now starting to work with enlightened software vendors who understand that it is in their interests to ensure that the client purchases an appropriate solution, rather
At Feechan Consulting, we are now starting to work with enlightened software vendors who understand that it is in their interests to ensure that the client purchases an appropriate solution, rather
.
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
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
than simply what they have to sell, as they inevitably take on some of the risk of failure.
Conclusion
Organisations have benefited greatly from IT investments over recent decades and will con
Conclusion
Organisations have benefited greatly from IT investments over recent decades and will con
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
tinue to do so. However, the risks attached to these investments are significantly reduced (and the resulting benefits significantly magnified) if the underlying, informal processes are addressed first
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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