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Space utilization is one of the most important decisions a business must make. Document storage and office clutter are the best examples of ne

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

eds for expansion. Decisions regarding personnel, production, office equipment, inventory, records retention and accessibility impact a compan

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

Examples of combination products may in

’s profitability. Off-Site storage may be the answer for cost effective space utilization. Consider the facts: Typical commercial office s

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

pace, in the Omaha/Council Bluffs area, leases for $20-22 per square foot, according to Al Shipps, Lund Company. Off-site storage space leases

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

for $0.30-$1.00 per square foot, according to industry information. Economically, off-site storage offers the best value per square foot.

G

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

Combination pro

nerally, there are two types of off-site storage companies: (1) self storage facilities (i.e. Budget Storage and U-Haul Mini Storage) and (2) m

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

obile storage facilities (i.e. Mobile Storage Solutions and P.O.D.S.) Each offers unique advantages to businesses of all sizes.

Traditional 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

lf storage facilities offer garage type storage units. Sizes range from 5’x5’ to 20’x30’. Customers lease the storage units on a long or short

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

term basis. Many facilities offer climate controlled settings (preferable for some types of inventory and document storage). Other advantages

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

include controlled security fences, 24 hour access, on site management, and boxes and packing supplies.

Companies must consider the additional

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

costs of self storage in order to accurately evaluate its cost effectiveness. Cost considerations include: personnel needed to pack and transpo

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

Following aspects would a

rt items to the storage facility, truck rental and frequency of item retrieval. Typically, a cost-benefit analysis of these factors indicates

dd to the challenges in developing combination products:

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

ff-site storage is more cost effective than leasing additional commercial space.

Mobile storage companies are a new and innovative approach to

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

self storage. Originating on the west coast, mobile storage has expanded throughout most of the country. Mobile storage companies offer a doo

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

to door service not available through traditional storage companies. The companies deliver a storage unit directly to the customer’s location

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

Although the units may be smaller than those available through traditional storage companies, the convenience and monthly lease rates offset a

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

Professional from academic institutions, pharmaceutical industries, health care indust

ny perceived disadvantages.

The storage unit is loaded according to the customer’s needs and schedules. Once the unit is loaded, the mobile s

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

orage company returns the storage unit to a secure, climate controlled warehouse. Other advantages of mobile storage include: no leaving the of

.

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

fice to deliver items to the storage facility, no truck rental, eliminates half the loading and unloading time. Many mobile storage companies

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

Companies that provide selfless information through particip

ffer low cost delivery for high turnover inventory or document retrieval.

Off-site storage may be the solution to your space utilization needs

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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Acquisitions let owners establish a base, such as: obtain a going concern in a particular location and establish a niche, i.e. bring in more business of a certain type in the market. Acquisitions also help to obtain entry into adjacent market areas and increase the prestige of the company. Mergers, in addition to these benefits, offer reduced work level and a way to cope with larger competitors.

Many of us who are interested in starting a new business often don't know about the procedures that are required to be fulfilled. Thankfully, we have the Internet where one can go through literally hundreds of web sites, which can teach you a lot about starting new venture, both big and small. Whenever you are thinking of starting a new venture, you think of business forms. There are hundreds of kinds of forms which are needed before and after starting a business. The best way to learn about these forms is to download them from online resources. One can also come across sample business forms on the Internet, which you could practice with before going in for the actual business ones.

Before you begin each day, it is recommended that you plan your activities so that your workload is lessened. You should plan every detail but you should have a roadmap in place that will make your day easier.

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Digg It - Off-Site Storage: A Cost Effective Solution To Space Utilization Needs

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