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Unless they have an understanding bank or creditor, rigorous cost cutting may be needful for some companies to survive especially during a cash flow crisis. Cutting costs to achieve a turnaround may save the business, but it always leaves behind

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

a demoralised workforce with an acute problem of rebuilding confidence and motivation. Often the key question is whether the company is able to make a come back with its existing management intact.

Many small and medium size enterprises (SME

; 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) cannot embark on large-scale costcutting measures such as massive retrenchment or large asset disposal to raise cash quickly. The SMEs have difficulty in retaining their staff and do not have a lot of assets to sell off. They may also encou

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

ter difficulty to obtaining credit lines from their bankers and creditors. Hence, they have to exercise great care in cutting the costs without injuring the muscles and the organs as any miscalculations can be fatal.

One of Unilever’s subsidiar

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

ies, a Dutch meat, sauce and soup business was in deep trouble. Among other challenges, it faced two major problems of shrinking market and a tired organisation. A new chairman was hired to fix the mess. He swiftly acted by replacing those dir

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

Combination pro

ectors who lack the business acumen and enthusiasm to foster business growth. He persuaded sceptical workers to embrace growth and challenges as the new buzzwords.

A group of younger managers were selected as the team leaders to spearhead new

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

direction for future growth. They created new products and carve out new markets as well as significantly improve production and margins. In addition to growing the existing brands, they were able to strengthen relationships with its retailers a

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

nd consumers. In all, it took the company five years to rebuild its business and subsequently, it was able to achieve annual double-digit growth.

Management must be diligent and well organised in order to identify any unnecessary expenditures

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

that can be trimmed. These may include magazine subscriptions as nowadays information is readily available on Internet. Telephone and power bills can be trimmed by bidding service providers for lower rates. Furthermore, service contracts are

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

ormally not worth the money except for copier service contracts as photocopiers break down frequently. Advertising costs can be reduced by sourcing for the most effective medium and eliminating the advertisements with low responses. Cut back can

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

also be made on entertainments, donations to charity and other worthwhile causes. In turnaround situation even charity has to have a return on investment. Only buy office supplies that are presently needed and cost savings are realised by mak

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

Following aspects would a

ing purchases that are on sale.

To further tighten stationery supplies, it is good to assign a staff to be in charge of the supply closet. Any person must duly sign for any requisitions. Costly overseas trips can

be replaced by videoconferences

dd to the challenges in developing combination products:

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

ith overseas subsidiaries. Reduce insurance expenses as during very critical period, survival is more important. Reduce professional fees and banking/financial charges.

Downsizing, delayering, outsourcing and business process re-engineering are

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

common prescriptions for cutting fats. But these treatments are only part of the answer. As staff costs usually form a significant portion of the company’s expenditure, it is an obvious place to look for fats. It is important to involve the s

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

taff in cost-cutting exercises as they are the ones who know where to locate these fat reserves. The people in the organisation are the producers of business fats or muscles. The activities that people perform and how well they perform them de

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

ermine the firm’s success. Also, it is imperative to instill and preserve the right mindset of cost prevention and cost elimination among the employees after the cost-cutting exercises. The company must not lose out in the long term because of

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

Professional from academic institutions, pharmaceutical industries, health care indust

the complacency of the staff.

Many publicly listed companies are infected by the virus of the “quarterlies” performance. The need to show good financial results for every quarter may have become unrealistic. This virus causes companies to fore

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

go the long-term business growth for the sake of meeting unrealistic quarterly objectives. This virus can cause cut back on R&D and new product development as well as advertising and promotion expenditures, which may deprive these companies 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

the vital fuel for the future expansion.

Some troubled manufacturing companies may attempt to short change long-term gains for short-term benefits. These short sighted companies may cut back on maintenance or even use the parts from unused equi

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

Companies that provide selfless information through particip

pment as spare parts for other machines. Such shoddy approaches to managing the business is compromising the future prospects as vital muscles and the organs are being cut off, depriving the body of an opportunity to regain strength and energy

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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The first in a two part series about the planning and purchasing of steel gondola units for a retail store. Topics include determining the proper height for the units, a discussion of the costs and benefits of various shelf dimensions, and deciding on the number of units you should consider for your retail space.

More and more businesses are coming up with taglines that relate to their line of business. Even though taglines are short, they are probably one of the most difficult phrases to create.

So you've decided to run a print ad in your local newspaper. The paper may have even told you they could produce the artwork for you if you just tell them what should be in the ad. Problem is, you're not sure what should be in the ad.

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