Adapting to a Changing World
Adapting to a Changing World Spokesperson: Manish Sardana, President (India Biz), Poly Medicure Ltd. Challenges faced & measures taken in domestic operations during COVID pandemic? We are in the business of empowering healthcare service professionals to take
Adapting to a Changing World
Spokesperson: Manish Sardana, President (India Biz), Poly Medicure Ltd.
- Challenges faced & measures taken in domestic operations during COVID pandemic?
We are in the business of empowering healthcare service professionals to take optimum care of patients, by providing them technology and hardware. While the whole nation was experiencing tough time, we also faced a few challenges. Due to Supply Chain disruption, we were finding it difficult to source raw material and ship out finished goods. Being partially import dependent, we did stock raw materials for 3-4 months’ requirement, as part of our standard replenishment process. Our “Ready to use multiple sources” approach also helped us source from less disrupted locations. Supply chain dashboard for finished goods was devised in line with the color coded COVID affected zones. Team also mapped and expanded list of approved transporters operational in different zones. Dedicated vehicles were used, and temporary localized stocking points created at our key regional distributors.
We also faced gaps on the manpower front. A significant part of the labor force was absent due to lockdown. Efforts on training & retraining significantly helped us to have a fungible manpower. Automated lines in manufacturing which is one of Polymed’s key strengths helped to maintain continuity on priority produce. Strict adherence of COVID guidelines in the plant & other offices also helped in manpower continuity.
Field sales & marketing team had limited access to the hospitals & doctors, making supply continuity and other discussions difficult. This situation gave us an opportunity to engage digitally with the healthcare community by means of webinars and other options. The virtual programs enabled us to build online learning events aimed at imparting knowledge and skills to different set of healthcare professionals.
We continue to invest in digital transformation to cope with global lockdowns that have forced limited or no movement of workforce. The digital experiences matter more than ever.
We will be investing more in our technology architecture to expedite our digital transformation and put ourselves in a stronger position coming out of the pandemic.
- How drop in patients’ inflow at hospitals impacted the business?
Our product line is mainly into four specialty areas, Vascular Access, Renal Care, Diagnostics and Transfusion. Dialysis being a mandated procedure, patient inflow is impacted lesser than the other elective procedures, surgeries etc. Also, our strong manufacturing capabilities and proactive approach helped inhouse development of new COVID related medical devices. We started manufacturing Viral Transportation Medium (VTM) kits, N95 masks and face shields. These new product introductions helped to keep the business afloat. We shall continue expanding our diagnostics portfolio.
- Your strategic take-aways from pandemic.
Govt. highlighted the importance of a self-reliant economy in the wake of Coronavirus pandemic & gave the slogan of ‘Aatm Nirbhar Bharat’. Polymed is fully aligned with this initiative. The market recognizes the need for more indigenous products, Polymed is geared up to contribute in India’s fight against Covid-19. Here are the key take-aways I would like to highlight.
- Demand shall prefer more Make in India as it ensures reliable supplies, is global quality and cost effective.
- Invest more in automation in manufacturing for continuous and increased capacities.
- Invest in Digital as medium of communication both internal and external.
- Continuous upskilling of manpower both in manufacturing and marketing operations.
- As Pandemic has created an imbalance in healthcare ecosystems (only certain medical products and services in demand), kindly share your course correction strategies.
In medium term, demand shall come back. Non COVID patient inflow in hospitals is on up, gradual but sure. We shall continue investing in our core businesses. Of course, some of our strategic imperatives might change priorities. For short term, we have already expanded into the medical products which are in demand like VTM kits, N95 masks etc. We might also explore some medical technologies which shall be in demand due to changed way the healthcare services are delivered.
- A little brief about your organization.
Poly Medicure has successfully served the medical fraternity for over 23 years.
The high-quality standards of our products continue to make us one of the preferred brands of Healthcare professionals across the globe.
Polymed, with 215+ patents to its credit continues to file new patents for new technologies & is also raising R&D spend to accelerate the expansion of its 125 Medical devices portfolio. Currently the product offerings are in the area of Vascular access/ Infusion therapy, Renal Care, Transfusion, Diagnostics and Oncology.
Company is investing in new technologies to expand its manufacturing capacity of 3.5 million devices per day out of six plants in India and one each in Italy, China and Egypt (Joint Venture) . Polymed has established a strong global footprint as it exports approx.70% of its products to over 110 countries.
India being an important market, company has its domestic presence with a strong distribution channel of over 1500 partners.
Recently the company has received an award for one of the Top 25 Innovative Company in 2019 by CII Industrial Innovation Awards. The company is also largest exporter of consumable Medical devices from India for last 8 years. In Feb 2019, the company was recognized with “Medical Devices Company of the Year 2018“award, by the Department of Pharmaceuticals Ministry of Chemicals & Fertilizers, Government of India.