Getting a product from the pipeline to the patient is a complex journey that can be derailed when life sciences companies use insufficient key performance indicators (KPIs).
In other words, when they’re carefully aligned with your key business strategies, KPIs will help you know whether your company is headed in the right direction.
It’s this kind of laser focus that innovative life sciences companies are applying to what not long ago was often an overlooked backroom process: product packaging label and artwork management (LAM).
Why are companies concentrating more these days on KPIs for LAM? Consider this: One out of every four (25 percent) medication errors are the result of name confusion, and one out of three (33 percent) are caused by packaging and labeling confusion – Journal of Young Pharmacists
BLUE Software, in collaboration with the world’s leading life sciences organizations, has found the most successful enterprises use artwork management analytics or KPIs such as Right First Time to boost LAM performance. In the LAM world, Right First Time is KPI nirvana, because it means no more than one artwork cycle was necessary to achieve artwork approval. Translation: your product gets to market sooner.
To achieve Right First Time, it helps to have a data-driven artwork project brief. It’s also important to go beyond what the artwork reviewer writes, and seek to understand what the artwork reviewer really means. Finally, notice patterns in rejections so you can adjust future artwork project briefs and avoid repeating the same mistakes.