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Digg It - Business Outsourcing World : Changing Dimension
Business models have become much more customer oriented and many companies experimenting with different structures in order to discover how to meet their customers needs at the lowest co
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
st and for the highest profit. One of the most effective ways of doing so is outsourcing. The globalization in IT sector for the last five years have brought revolution in the outsourcin
; 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
business.
Recently, there has been significant change in outsourcing trend with outsourcing companies particularly in India are providing knowledge process solutions in the field of tax
Recently, there has been significant change in outsourcing trend with outsourcing companies particularly in India are providing knowledge process solutions in the field of tax
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
tion, legal & finance. The knowledge process outsourcing solutions are in demand for its intellectual skill, cost effectiveness and technical knowledge.
A shortage of skilled professiona
A shortage of skilled professiona
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 and availability thereof at higher costs increase the cost of maintaining such services in the developed country whereas the same job can be got done with similar precision and quality
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
nd at much lesser costs by a knowledge process outsourcing company in India.
The major benefits which can be derived are described below :
Valuable cost savings that can
The major benefits which can be derived are described below :
Valuable cost savings that can
ucts have become life saving products for the pharmaceutical companies who doesnt have many innovative molecules in their product pipeline and have been inc
be utilized elsewhere.
Trained professionals at work.
Standard operational efficiency.
Increase in profits.
Savings in time and management energy for maintai
Trained professionals at work.
Standard operational efficiency.
Increase in profits.
Savings in time and management energy for maintai
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
ing in house services.
Option to recruit a larger work force without raising costs.
Major leading Knowledge process outsourcing company in the Eastern Province of
Option to recruit a larger work force without raising costs.
Major leading Knowledge process outsourcing company in the Eastern Province of
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
ndia-
BT Associate offers Accounting, Tax & Legal processing services. www.btassociate.com
Global Associates offers CAD conversion and drafting services www.convert2cad.com
www.Jobs2in
BT Associate offers Accounting, Tax & Legal processing services. www.btassociate.com
Global Associates offers CAD conversion and drafting services www.convert2cad.com
www.Jobs2in
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
ia.com offers Back office and form processing services.
The following are the few areas which may be outsourced to a knowledge process outsourcing company :
Research & Devel
The following are the few areas which may be outsourced to a knowledge process outsourcing company :
Research & Devel
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
pment
Financial Consultancy and Services
Business and Technical Analysis
Business & Market Research
Writing & Content Development
Legal Services
Financial Consultancy and Services
Business and Technical Analysis
Business & Market Research
Writing & Content Development
Legal Services
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
>
Intellectual Property (IP) Research
Data Analysis
NEGATIVE IMPACT OF OUTSOURCING :
Unrealized cost savings: Most businesses push work overseas in the hope o
Data Analysis
NEGATIVE IMPACT OF OUTSOURCING :
Unrealized cost savings: Most businesses push work overseas in the hope o
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
cutting several costs mainly labor costs. An application maintenance professional in India earns about $25 per hour, compared with app $85 per hour in the U.S., according to Gartner. But
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
business entities make a mistake by looking at salaries alone. Other hidden expenses for areas like infrastructure, travel, communications and cultural training take a share out of the wa
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
e differential. What's more, planning and start-up costs are very high, therefore, offshore deals lasting less than a year may not pay off at all, and savings from longer-term deals will
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
merge at slow pace.
Loss of productivity: Staff at an offshore service center in all the cases won't be as productive as internal staff at outsourcing country, at least not initially. G
Loss of productivity: Staff at an offshore service center in all the cases won't be as productive as internal staff at outsourcing country, at least not initially. G
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
rner offers several reasons: Staff turnover is very high in competitive off shoring markets such as in India, which in other words mean programmers there may be new and inexperienced. And
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
service providers overseas struggle with ambiguities in the work they are assigned. Sending jobs overseas will also lower morale of employees at home, creating a drag on output.
Poor com
Poor com
.
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
itment and communications : Senior executives often drag out of the scene once a deal is signed. But they need to stay committed and engaged to keep morale high and strategy on track. Pro
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
ects, goals, expectations etc.have to be defined clearly and in detail. On the home front, managers should explain precisely why work has been sent overseas and what benefits are expected
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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