Citation :

Priyanka Taranekar, 2024. "Process Optimization Using Value Stream Mapping: A Case of Streamlining Contract Management in Medical Devices Industry " ESP International Journal of Advancements in Computational Technology (ESP-IJACT) Volume 2, Issue 3: 147-152.

Abstract :

Contract Management in the Medical Devices field is a very tightly controlled and intricate area that often suffers from inefficiencies and compliance issues. This paper explores how lean methodologies such as Value Stream Mapping can streamline contract workflows, enhance operational efficiency, and ensure regulatory adherence. When bottlenecks are identified, redundancies are eliminated and processes are optimized, organizations can shorten cycle time, increase accuracy, and improve the interaction between all parties. Tailored specifically for the medical devices sector, this case provides actionable insights to align contract management practices with business goals while maintaining compliance in an evolving regulatory landscape.

References :

[1] By DanielPenfield - Own work, CC BY-SA 3.0, https://commons.wikimedia.org/w/index.php?curid=28553995

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Keywords :

Process Optimization, Value Stream Mapping (VSM), Contract Management, Medical Devices Industry, Streamlining Processes, Lean Management, Process Improvement, Efficiency Enhancement, Workflow Analysis, Value Stream.