• Login
    • Join
  • FOLLOW:
  • Subscribe Free
    • Magazine
    • eNewsletter
    Checkout
    • Magazine
    • News
    • Opinions
    • Top 30
    • Research
    • Supply Chain
    • Device Sectors
    • Directory
    • Events
    • Resources
    • Microsites
    • More
  • Magazine
  • News
  • Opinions
  • Top 30
  • Research
  • Supply Chain
  • Device Sectors
  • Directory
  • Events
  • Resources
  • Microsites
  • Current / Back Issues
    Features
    Editorial
    Digital Edition
    eNewsletter Archive
    Our Team
    Editorial Guidelines
    Reprints
    Subscribe Now
    Advertise Now
    Top Features
    OEMs Seek Molders Offering Timely Techniques

    Robotic Surgery: Cutting Through to the Latest

    Packaging, Sterilization Considerations Go Part and Parcel with Product Development

    Cybersecurity Challenges Leave Medical Device Makers Insecure

    OEMs Are Demanding Designs that Challenge Suppliers
    OEM News
    Supplier News
    Service / Press Releases
    Online Exclusives
    Press Releases
    People in the News
    Product & Service Releases
    Supplier News
    Medtech Makers
    Technical Features
    International News
    Videos
    Product & Service Releases
    Live From Shows
    Regulatory
    Financial/Business
    Top News
    MPO's Most Read Stories This Week—June 25

    Magnetic Insight Announces $17 Million in Series B Funding

    BreatheSuite Adds Brad Fluegel to its Board

    Labcorp Launches At-Home Collection Device for Diabetes Risk Testing

    Thirona, Free Flow Medical Partner on COPD Solutions
    From the Editor
    Blogs
    Guest Opinions
    Top Opinions
    OEMs Seek Molders Offering Timely Techniques

    Robotic Surgery: Cutting Through to the Latest

    Packaging, Sterilization Considerations Go Part and Parcel with Product Development

    Cybersecurity Challenges Leave Medical Device Makers Insecure

    OEMs Are Demanding Designs that Challenge Suppliers
    Top 30 Medical Device Companies
    Market Data
    White Papers
    Top Research
    Theranos Fraud Trial, Part II: The Blame Game Continues

    An Update on Surgical Robotics

    Letting the Light In: How Failure Analysis is the Cornerstone of Success

    Three Talent Strategies to Attract High-Demand Skills

    The Advantages of Bioburden Screening for Sterilization Validation
    3D/Additive Manufacturing
    Contract Manufacturing
    Electronics
    Machining & Laser Processing
    Materials
    Molding
    Packaging & Sterilization
    R&D & Design
    Software & IT
    Testing
    Tubing & Extrusion
    Cardiovascular
    Diagnostics
    Digital Health
    Neurological
    Patient Monitoring
    Surgical
    Orthopedics
    All Companies
    Categories
    Company Capabilities
    Add New Company
    Outsourcing Directory
    Fusion Biotec Inc.

    Cirtec Medical

    Concise Engineering

    BMP Medical

    Arthur G. Russell Co. Inc., The
    MPO Summit
    Industry Events
    Webinars
    Live From Show Event
    Industry Associations
    Videos
    Career Central
    eBook
    Slideshows
    Top Resources
    The Power of Leveraging Customer Relationships

    Cost Effective & Efficient Wire EDM Techniques

    How MedTech Professionals Can Help Combat Physician Burnout

    How to Optimize Manufacturing Lines and Choose Which Machines to Buy

    How Are Hypodermic Needles Made?
    Companies
    News Releases
    Product Releases
    Press Releases
    Product Spec Sheets
    Service Releases
    Case Studies
    White Papers
    Brochures
    Videos
    Outsourcing Directory
    Fusion Biotec Inc.

    Cirtec Medical

    Concise Engineering

    BMP Medical

    Arthur G. Russell Co. Inc., The
    • Magazine
      • Current/Back Issues
      • Features
      • Editorial
      • Columns
      • Digital Editions
      • Subscribe Now
      • Advertise Now
    • News
    • Directory
      • All Companies
      • ALL CATEGORIES
      • Industry Associations
      • Company Capabilities
      • Add Your Company
    • Supply Chain
      • 3D/Additive Manufacturing
      • Contract Manufacturing
      • Electronics
      • Machining & Laser Processing
      • Materials
      • Molding
      • Packaging & Sterilization
      • R&D & Design
      • Software & IT
      • Testing
      • Tubing & Extrusion
    • Device Sectors
      • Cardiovascular
      • Diagnostics
      • Digital Health
      • Neurological
      • Patient Monitoring
      • Surgical
      • Orthopedics
    • Top 30 Company Report
    • Expert Insights
    • Slideshows
    • Videos
    • eBook
    • Resources
    • Podcasts
    • Infographics
    • Whitepapers
    • Research
      • White Papers
      • Case Studies
      • Product Spec Sheets
      • Market Data
    • MPO Summit
    • Events
      • Industry Events
      • Live From Show Events
      • Webinars
    • Microsite
      • Companies
      • Product Releases
      • Product Spec Sheets
      • Services
      • White Papers / Tech Papers
      • Press Releases
      • Videos
      • Literature / Brochures
      • Case Studies
    • About Us
      • About Us
      • Contact Us
      • Advertise with Us
      • eNewsletter Archive
      • Privacy Policy
      • Terms of Use
    Online Exclusives

    Product End-of-Life Risk Management: Minimizing Liabilities

    A priority for medical device companies.

    Product End-of-Life Risk Management: Minimizing Liabilities
    Many challenges can be avoided altogether through a more thorough and disciplined approach to product End-of-Life (EOL) management.
    Farida Ali, CEO and President of Dynamic Technology Solutions06.03.22
    Consider these real-life scenarios faced by three leading medical device companies:
     
    • The company was enjoying great success with its automated diagnostic system, but was surprised to discover that several of the 28 integrated electronic components that powered the equipment were approaching end-of-life. Continued production of the instrument was suddenly at risk.
    • A company’s system, designed for workflow efficiency, required a specific desktop model. That particular model was going end-of-life; so to plan for product transition and secure the necessary resources, additional testing and validation would be required, risking a stockout situation.
    • As the company was about to launch a new product, it learned that a key technical component connected to the device was nearing its end-of-life. Replacing and re-validated the component would derail the launch and cost the company money and time it didn’t have.
     
    Each of these challenges were addressed, but they could have been avoided altogether through a more thorough and disciplined approach to product End-of-Life (EOL) management.
     
    In the first example, the company would have benefited had it established from the outset complete transparency into all product lifecycle roadmaps, including automated alerts on the EOL dates, changes to the EOL dates, and critical product updates. In the other two examples, having replacement stock on hand as parts reached end-of-life would have helped to bridge the gap, and avoided the need for time-consuming re-validation until a next-generation product could be identified and validated.
     
    The cornerstone of effective product lifecycle management is proactive end-of-life awareness and planning. The starting point involves development of a comprehensive database of all devices, products and components, combined with a system that ensures notification for when these devices and products will become obsolete. This system must include a methodology to communicate EOL information throughout your organization, including stakeholders in product engineering, manufacturing, procurement, and marketing. Communication should also include your supplier network, to bridge the gap between a current component’s EOL and a new component’s validation date.

    Industry Best Practices Guide EOL Management

    Creating this internal discipline requires a company to understand and apply industry best practices for EOL risk management. Some of the relevant self-diagnostic questions include:
     
    • Do we have multiple safeguards to protect against EOL supply issues and shortages?
    • During the R&D process, are we routinely reevaluating the EOL prognosis of components we’re specifying for products we’re developing?
    • Is there a formal protocol if a component unexpectedly reaches end-of-life?

    Lacking this level of EOL planning, a medical device company risks missing crucial launch dates, and is subject to supply chain disruption, lost revenue and market share, and a damaged reputation. These outcomes can have long-lasting and even devastating consequences.
     
    After resolving their respective challenges, each one of the three medical device companies described above took steps to avoid similar problems in the future.
     
    In the first case, the company was able, by looking closely at the lifecycle roadmaps of each component, to optimize planning, smooth out transitions, and ensure that the lifecycle of each component was aligned with the highly regulated lifecycle of the instrument itself.
     
    In the second case, the company was able to secure a large last-time buy of the soon-to-be- obsolete desktop. The equipment was then warehoused so that the company could keep shipping the device to its customers, avoiding the risk of stockouts.
     
    And in the third case, in addition to warehousing equipment that was secured through a last-time buy, its research into replacement options allowed the company to be ready to easily transition to a new, validated component once the stock ran out.
     
    The common lesson in all three of these stories is that passive EOL management represents a significant enterprise risk for companies that produce complex and highly regulated medical devices. Without a comprehensive, proactive plan to monitor and manage the lifecycle of each product component, a company will always have exposure to significant operational, financial and reputational damage. But with senior management support, proper planning, integrated communication, and organizational transparency, EOL-related liabilities can be minimized or avoided altogether.
     

    Farida Ali is CEO and President of Dynamic Technology Solutions, a firm that provides technology lifecycle management solutions for companies in the medical device and pharmaceutical industries. Dynamic offers industry professionals an EOL PrepSM Self-Diagnostic tool designed to help them avoid the types of risks described in this article.
    Related Searches
    • R&D & Design
    Related Knowledge Center
    • R&D & Design
    Loading, Please Wait..

    Trending
    • 5 Ways Plastics Revolutionized The Healthcare Industry
    • Portable, Home-Use Device Quickly Measures Inflammation Levels
    • 7 Steps To Create Your Own Medical Device Marketing Plan
    • Cytotron Gains Breakthrough Status To Treat Breast, Liver, And Pancreatic Cancers
    • World’s First Non-Invasive, Saliva Glucose Biosensor
    Breaking News
    • MPO's Most Read Stories This Week—June 25
    • Magnetic Insight Announces $17 Million in Series B Funding
    • BreatheSuite Adds Brad Fluegel to its Board
    • Labcorp Launches At-Home Collection Device for Diabetes Risk Testing
    • Thirona, Free Flow Medical Partner on COPD Solutions
    View Breaking News >
    CURRENT ISSUE

    June 2022

    • OEMs Seek Molders Offering Timely Techniques
    • Robotic Surgery: Cutting Through to the Latest
    • Packaging, Sterilization Considerations Go Part and Parcel with Product Development
    • View More >

    Cookies help us to provide you with an excellent service. By using our website, you declare yourself in agreement with our use of cookies.
    You can obtain detailed information about the use of cookies on our website by clicking on "More information”.

    • About Us
    • Privacy Policy
    • Terms And Conditions
    • Contact Us

    follow us

    Subscribe
    Nutraceuticals World

    Latest Breaking News From Nutraceuticals World

    Florida Food Products Acquires Javo
    Roquette Launches Nutralys Rice Protein
    New IADSA Chair Lauds Explorations of Supplementation in Healthcare Policy
    Coatings World

    Latest Breaking News From Coatings World

    The Southern Society for Coatings Technology's 84th Annual Technical Conference A Success
    PPG to Showcase Specialty Automotive, Aerospace Adhesives, Sealants at Adhesives & Bonding Expo
    PPG’s New Paint for a New Start Initiative to Transform 25-plus Schools Worldwide
    Medical Product Outsourcing

    Latest Breaking News From Medical Product Outsourcing

    MPO's Most Read Stories This Week—June 25
    Magnetic Insight Announces $17 Million in Series B Funding
    BreatheSuite Adds Brad Fluegel to its Board
    Contract Pharma

    Latest Breaking News From Contract Pharma

    Pierre Fabre and Lonza Enter Manufacturing Agreement
    MasterControl and Elemental Machines Form Biomanufacturing Partnership
    Qosina Strengthens Aseptic Capabilities
    Beauty Packaging

    Latest Breaking News From Beauty Packaging

    Benefit Exec Joins Madison Reed's Board
    Peroni & Ellis Brooklyn Launch Fragrance Collection Inspired by Italian Spritz Cocktails
    Rhode Is Trending for June, Trendalytics Says
    Happi

    Latest Breaking News From Happi

    Spate’s Says The Skunk Stripe, Collagen Serum and Waterproof Eyeshadow Lead Summer Beauty Trends
    A Suitor Emerges for Revlon, SK Capital’s New Dealmaker & P&G’s Indoor Air Quality Efforts
    Wonder Curl Wins GlossWire's GlossPitch Competition
    Ink World

    Latest Breaking News From Ink World

    Weekly Recap: INX’s VC Fund, Screen Industry and Ball Top This Week’s News
    British Coatings Federation Posts Online History
    Orion Announces Price Increases, Reduced Payment Terms
    Label & Narrow Web

    Latest Breaking News From Label & Narrow Web

    PCMC teams with IGT, Fujifilm makes big announcement and more
    Loftware recognized as 'AIDC Company of the Year'
    Schreiner MediPharm highlights sustainability of Needle-Trap technology
    Nonwovens Industry

    Latest Breaking News From Nonwovens Industry

    Weekly Recap: SWM and Neenah Introduce Mativ Inc., Avgol honored for Biotransformation Technology & More
    Tranzonic Names VP of Supply Chain
    Ontex Climate Action Targets Approved by Science-Based Targets Initiative
    Orthopedic Design & Technology

    Latest Breaking News From Orthopedic Design & Technology

    ODT's Most-Read Stories This Week—June 25
    3Spine Inc. Receives IDE Approval for U.S. Pivotal Clinical Trial
    Volume-Based Procurement to Reduce Chinese Orthopedic Market Value
    Printed Electronics Now

    Latest Breaking News From Printed Electronics Now

    Weekly Recap: eMagin, Applied Materials, and Schott Top This Week’s Stories
    NREL Names Jennifer Logan to Leadership Team as CFO
    National Grid Renewables Orders 2 GW of First Solar Modules

    Copyright © 2022 Rodman Media. All rights reserved. Use of this constitutes acceptance of our privacy policy The material on this site may not be reproduced, distributed, transmitted, or otherwise used, except with the prior written permission of Rodman Media.

    AD BLOCKER DETECTED

    Our website is made possible by displaying online advertisements to our visitors.
    Please consider supporting us by disabling your ad blocker.


    FREE SUBSCRIPTION Already a subscriber? Login