PLM for the Medical Device Industry
PLM is a proven solution in the Medical Device industry. It allows your business to reduce time-to-market by making the product development process much more efficient, whilst at the same time ensuring regulatory compliance.
What can PLM do for the Medical Device industry?
Reduce time-to-market
Reduce time to market through one cohesive solution that allows collaboration of design information and visibility into the complete product development process.
Speed up the compliance process
The compliance process is made easier by integrating regulations into product development (design for compliance) and e-submission.
Knowledge Capitalization through PLM
During the last decade, medical device companies have been divided into numerous isolated divisions. To manage this, many created complex matrix-based organizations attempting to enhance cross-division communication and data exchange to streamline internal processes, but much more is required. Organizations that digitalize their businesses and leverage digital continuity across the entire innovation continuum will win. This will transform the way they innovate and operate, driving significantly enhanced margins with patient-centric experiences and increased productivity and profits.
Further Benefits of PLM for the Medical Device Industry
- Speed compliance process by integrating regulations into product development (design for compliance) and e-submission
- Increase business agility by streamlining design collaboration and managing team activities to be in line with project goals and user requirements
- Reduce time to market through one cohesive solution that allows collaboration of design information and visibility into the complete product development process
- Develop strategic suppliers and partners by bringing together supplier quality history into the sourcing process
- Balance speed versus control by improving common enterprise processes, then track and measure those processes as a basis for improvement
- Meet customer needs by maintaining traceability from ideation to commercialization and obsolescence
- Drive material costs down by publishing material specifications across brands, regions and categories to create efficient procurement processes
- Achieve cost savings through lean and efficient re-use of Intellectual Property (IP)
- Enable design and manufacturing outsourcing by creating a centrally managed global virtual work teams and using a single repository to store all product information throughout their life cycle
