How to Use PIM for Medical Equipment Marketplaces and Compliance Management

The healthcare equipment niche is tight, heavily regulated, but even more profitable. Yet, to yield the profit, scale the platform, and grow naturally, it needs to be literally perfect. One part of this perfection is data management. Many marketplaces rely on manual work, which leads to issues, inconsistencies, and results in returns, churn, and even fines.

Product inventory management (PIM) is a one-way solution to this issue. In this article, we’ll look into it. As such, our team will overview its importance for medical supply marketplaces, its direct benefits, and even case studies of successful PIM implementations.

Understanding PIM in the medical equipment marketplace

A product information management system is a hub for product data. It is often used to manage, optimize, and share it across multiple channels. In the context of medical equipment marketplaces specifically, PIM is irreplaceable. Why? This niche heavily relies on accuracy, compliance with standards, and product complexity.

Medical equipment marketplaces often handle extensive catalogs, with numerous devices, tools, and accessories. Each of them has unique specifications, usage instructions, certifications, and regulatory documentation. Without a structured system, managing this data can be chaotic, which is the last thing you need in a medical marketplace.

PIM tackles common data organization problems. It keeps product descriptions, images, technical sheets, and certification documents in one place. This allows marketplace operators and suppliers to keep product data accurate, consistent, and up to date.

With this centralized approach, you also get efficient collaboration across departments! Thanks to PIM, all teams and every stakeholder have access to the same reliable information. It also simplifies the process of syndicating data to different channels such as ecommerce platforms, procurement systems, or third-party resellers.

Read also: PIM in Omnichannel Retail: Consistent Product Data Everywhere

The role of PIM in regulatory compliance

Frankly, in the medical equipment industry, regulatory compliance is not optional. It’s a legal and ethical necessity. A PIM system plays a vital role in supporting these compliance efforts.

Key regulatory standards for medical devices

Medical equipment marketplaces must align with strict global and regional regulations. These are:

• FDA (U.S. Food and Drug Administration) requirements under 21 CFR Part 820 for quality system regulations;
• ISO 13485, which outlines quality management systems for medical device manufacturers;
• UDI (Unique Device Identification) rules that require standardized product identifiers for traceability;
• MDR (Medical Device Regulation) in the European Union, which mandates detailed documentation for each product sold.

These regulations demand that product data—ranging from technical specifications and intended use to warnings and certifications—be complete, accurate, and accessible.

PIM features supporting compliance

A PIM system provides structured tools to help businesses meet these strict standards. Key features include:

• Data validation rules, which ensure that required fields are correctly filled and match regulatory formats.
• Audit trails that track every change made to product information, providing transparency for internal reviews or external inspections.
• Version control, which helps manage updates and maintain historical records of product changes.
• Document management, which allows certificates, manuals, and safety documents to be stored and linked to relevant products.

Benefits of implementing PIM in medical equipment marketplaces

For medical equipment marketplaces, the volume and complexity of product data can be overwhelming. PIM, in turn, brings structure to the process, helping your business work much more effectively in a highly regulated and competitive space.

Enhanced data accuracy and consistency

PIM systems are a single source of truth for all specifications, usage instructions, certifications, and documentation. By centralizing data management, PIM reduces the risk of errors and discrepancies that commonly occur when product information is scattered across departments or stored in disconnected systems.

Read also: How PIM Improves Product Data Accuracy and Boosts Sales

Streamlined product data syndication

Medical equipment is often listed on multiple platforms (i.e., ecommerce sites, reseller catalogs, government procurement systems). A PIM system simplifies data syndication. How?

It makes it possible for teams to publish consistent product information to all channels from one centralized platform. It also enables easy customization for channel-specific formats, languages, or regulatory requirements.

Improved time-to-market for new products

Without thorough product data distribution, approvals, and documentation, new medical products cannot simply be introduced into the market. Teams can more effectively manage the workflows for content creation, approvals, and publication with PIM.

Businesses can launch new products more quickly and with fewer mistakes thanks to automated procedures and structured templates that help cut down on delays. In fast-paced medical and healthcare settings, where accuracy and speed have a direct impact on revenue and customer satisfaction, this agility is especially beneficial.

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Challenges in managing product information without PIM

Without the proper data handling that PIM provides, businesses often have to deal with operational inefficiencies and regulatory vulnerabilities. Needless to mention how damaging they can be for growth, reputation, and customer trust.

Data silos and inconsistencies

In the absence of a centralized system, product information is often stored across multiple departments, spreadsheets, and platforms. This fragmented approach can work in a short run or for small companies. But not for medical equipment marketplaces.

When teams use conflicting or out-of-date versions of product data, it creates data silos. Even small discrepancies can confuse consumers, cause them to put off making a purchase, and raise return rates in medical marketplaces.

Compliance risks due to manual processes

Manual entry and management of product data increase the likelihood of human error. It is especially the case when handling critical regulatory information (i.e., certifications, usage instructions, or safety labels), where it’s quite easy to make a mistake.

In a highly regulated industry, these mistakes can lead to non-compliance with the medical device regulations mentioned earlier. Incomplete or incorrect product listings can result in fines, product recalls, or legal issues.

Case study: How AMG Medical improved its regulatory compliance with Akeneo

AMG Medical, a multinational manufacturer of healthcare products, faced significant compliance risks due to inconsistent regulatory documentation across markets. Product data was stored in fragmented systems, making it difficult to maintain accuracy or respond to audits quickly.

With Akeneo’s PIM system, AMG Medical implemented and deployed a much more robust product data management system that perfectly met AMG Medical’s requirements for streamlined regulatory compliance.

Source: AMG Medical

Akeneo’s centralized data management and localization features make it more efficient. They also make it easier to follow tight, life-threatening medical rules across all markets.

Read also: Top 10 Open-Source PIM Systems For Streamlined Product Data Management

Best practices for implementing PIM in medical equipment marketplaces

Ensuring regulatory compliance

With PIM, you get help maintaining compliance with various standards, i.e., EU MDR, FDA 21 CFR Part 820, and Unique Device Identification (UDI) systems. To make this work, you will need to set up validation workflows to catch missing or outdated regulatory fields. Besides, maintain audit logs to track every single data change. This will help you easily retrieve data during audits and inspections.

Selecting the right PIM solution

Look for features specific to the healthcare industry when selecting a PIM system. It is primarily for EU MDR compliance, FDA guidelines, and UDI. Next, your PIM should have audit trails, validation rules, and the ability to handle complex data structures. For long-term growth, scalability, usability, and vendor support are also essential components.

Integrating PIM with existing systems

The degree to which the PIM integrates with your existing tech stack determines the success of the implementation. Your PIM should be able to connect to any existing ERP, CRM, and regulatory databases that you may have.

For smooth data flow, use middleware or APIs. To reduce disruption and enable gradual team adoption, give priority to a phased rollout. Make sure all departments or teams are aligned and trained to use the system efficiently.

Structuring medical device data efficiently

As previously outlined, medical equipment data often includes a variety of specs, certifications, Instructions for Use (IFU), and compliance standards. Hence, all this data should be structured for your PIM to deliver top-notch performance. In this regard, you can create a set of standardized templates and even hierarchies within your PIM. This will help you manage data more effectively.

Bottom line

In the aftermath, it’s worth noting there’s no explicitly perfect PIM solution that’s made just for your business. Instead, it’s a game of choice, and you must have an in-depth understanding of your platform, its needs, and future plans to select the right PIM integration.

On the contrary, you can always opt for a custom-made product inventory management system. It can be built perfectly for your marketplace, down to the last minute detail. At Codica, we specialize in exactly that. With our custom software development services, you can expect a robust, scalable, and perfectly tailored PIM. Hence, contact us to get a quote. In the meantime, feel free to browse our portfolio and see what our team is capable of pulling off.