Roadmap to sustainable innovation for medical device manufacturers

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How nearly 100 Medical Device Manufacturers assessed their current innovation management capabilities and how they can improve productivity, time-to-market, and commercial success.

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Roadmap to sustainable innovation for medical device manufacturers

  1. 1. The State of Product Development in 2013 Medical Device Manufacturers: A Need for Speed and a  Roadmap to Sustainable Innovation © 2013 Planview, Inc.        |        1 Maureen Carlson, Appleseed Partners Carrie Nauyalis, |        Confidential  Planview #StateofPD
  2. 2. Welcome & Introductions Maureen Carlson Chief Researcher,  Appleseed Partners Carrie Nauyalis NPD Solution Evangelist,  Planview © 2013 Planview, Inc.        |        2 |        Confidential  #StateofPD
  3. 3. Agenda • • • • • • About the Study New: Innovation Management Maturity Model Current State and Trends Desired Future State The Four Missing Elements Recommendations & Next Steps © 2013 Planview, Inc.        |        3 |        Confidential  #StateofPD
  4. 4. Study Background Who? How? Why? “Too many projects for  our resources!” Need for Faster  Innovation To learn about the  state of product  portfolio management,  innovation and trends © 2013 Planview, Inc.        |        4 |        Confidential  Fourth Benchmark  Survey since 2009  conducted by  Appleseed Partners  and OpenSky Research,  commissioned by  Planview.  Initial phone  survey that informed  an online survey  conducted in August‐ September, 2013 #StateofPD Surveyed more than  500 globally‐based  Product Development  Leaders.  Today, we  focus on nearly 100  participants from  Medical Devices  Industry!
  5. 5. New Data, New Perspectives What do you  want to learn  this year? © 2013 Planview, Inc.        |        5 |        Confidential  #StateofPD
  6. 6. What is the difference on pain points, business risks, productivity and commercial success for the most mature companies compared with the least mature companies? © 2013 Planview, Inc.        |        6 |        Confidential  #StateofPD
  7. 7. Ranking on Innovation Management  Maturity: 3 Vectors People Processes Tools © 2013 Planview, Inc.        |        7 |        Confidential  • Organization Structure • Center of Excellence to Manage  Innovation • Commercialization Process • Stage Gate® or Phase‐Gate Process • Ideation through Prioritization; and  Launch to Sunset • Automating with Best of Breed  Applications • Integrated Tools across the Enterprise #StateofPD
  8. 8. Part I CURRENT STATE:  INNOVATION MANAGEMENT MATURITY © 2013 Planview, Inc.        |        8 |        Confidential  #StateofPD
  9. 9. © 2013 Planview, Inc.        |        9 |        Confidential  #StateofPD
  10. 10. Innovation Management Maturity Model PEOPLE PROCESS Level 1 Level 2 Level 3 Level 4 Level 5 © 2013 Planview, Inc.        |        10 |        Confidential  #StateofPD TOOLS
  11. 11. Innovation Maturity  ̶ People Medical Device Manufacturers: Which of the following best  describes the innovation maturity level of your company in terms of  PEOPLE? 9% Level 5 13% Level 4 30% Level 3 35% Level 2 13% Level 1 N=91 © 2013 Planview, Inc.        |        11 0% |        Confidential  5% 10% 15% 20% #StateofPD 25% 30% 35% 40%
  12. 12. Innovation Maturity  ̶  Process Medical Device Manufacturers: Which of the following best  describes the innovation maturity level of your company in terms of  PROCESS? 10% Level 5 18% Level 4 40% Level 3 24% Level 2 9% Level 1 N= 91 © 2013 Planview, Inc.        |        12 0% |        Confidential  5% 10% 15% 20% #StateofPD 25% 30% 35% 40%
  13. 13. Innovation Maturity  ̶  Tools Medical Device Manufacturers: Which of the following best  describes the innovation maturity level of your company in terms of  TOOLS? 2% Level 5 19% Level 4 45% Level 3 23% Level 2 11% Level 1 N= 91 © 2013 Planview, Inc.        |        13 0% |        Confidential  10% 20% #StateofPD 30% 40% 50%
  14. 14. Innovation Maturity  ̶  Overall Medical Device Manufacturers: How would you rate your  company’s OVERALL maturity level? 1% Level 5 19% Level 4 43% Level 3 31% Level 2 7% Level 1 0% 5% 10% 15% 20% 25% N= 91 © 2013 Planview, Inc.        |        14 |        Confidential  #StateofPD 30% 35% 40% 45%
  15. 15. Part II CURRENT STATE:  PAIN POINTS & RISKS © 2013 Planview, Inc.        |        15 |        Confidential  #StateofPD
  16. 16. Pain Points © 2013 Planview, Inc.        |        16 |        Confidential  #StateofPD
  17. 17. Risks What are your greatest risks when managing a product portfolio?  (Rank in order of top 3) Time to market – i.e. missing competitive or  seasonal windows 60% 58% Unclear priorities as business conditions change Not meeting the expected revenue targets of the product 53% Missing the voice of the customer/market requirements and developing the wrong product N=91 © 2013 Planview, Inc.        |        17 48% 0% |        Confidential  #StateofPD 10% 20% 30% 40% 50% 60% 70%
  18. 18. Risks © 2013 Planview, Inc.        |        18 |        Confidential  #StateofPD
  19. 19. Part III CURRENT STATE:  STRATEGIC PLANNING, DATA, CULTURE © 2013 Planview, Inc.        |        19 |        Confidential  #StateofPD
  20. 20. Strategic Planning What is your most pressing concern with regard to managing  your product portfolio?  “Having alignment established across a matrix organization quickly  and sustainably as priorities change and resources allocations  evolve to meet changing environment” “Lack of strategy/alignment to resources” “Expediting time to market and having good decision making  criteria for prioritization” © 2013 Planview, Inc.        |        20 |        Confidential  #StateofPD
  21. 21. Data Is your company killing products early enough in the  commercialization process? I don't know 22% No 53% Yes 25% N=91 © 2013 Planview, Inc.        |        21 |        Confidential  #StateofPD
  22. 22. Data Is your company killing products early enough in the commercialization process?  (By Maturity Level) 100% 15% 17% 32% 80% 56% 60% 44% I don't know No 53% Yes 40% 39% 20% 28% 15% 0% Level 1&2 (N=34) Level 3 (N=39) Caution: small sample sizes.  Data is directional only. © 2013 Planview, Inc.        |        22 |        Confidential  #StateofPD Level 4&5(N=18)
  23. 23. Data Why isn’t your company killing more products or projects during the  commercialization process? (Select top 3) 58% Lack of rigor in determining highest return, highest value products 42% 48% Kill criteria is unclear or nonexistent 47% 40% Gated process is driven by personality instead of data 33% 30% 27% Opportunity costs are not clear 29% 0% 20% Caution: small sample size for Medical Device Manufacturers..  Data is directional only. |        Confidential  ALL PARTICIPANTS (N=280) 31% Everything passes approval due to an undefined strategy and supporting metrics © 2013 Planview, Inc.        |        23 MEDICAL DEVICE MANUFACTURERS (N=48) #StateofPD 40% 60%
  24. 24. Data Which of the following best describes your access to accurate  data necessary to make product decisions? 18% We have immediate access to accurate data We have access to data, but it is not timely or current 19% We have access to data, but it can be inaccurate for various reasons 53% 11% We do not have access to data 0% Other 0% N=91 © 2013 Planview, Inc.        |        24 |        Confidential  10% #StateofPD 20% 30% 40% 50% 60%
  25. 25. Data by Maturity Level Which of the following best describes your access to accurate data  necessary to make product decisions? (By Maturity Level) We have immediate access to accurate data 44% 10% 12% 17% We have access to data, but it is not timely or current 3% 31% 28% We have access to data, but it can be inaccurate for various reasons 68% 0% 0% 0% Other 0% 50% Caution: small sample sizes.  Data is directional only. |        Confidential  Level 4&5(N=18) Level 3 (N=39) Level 1&2 (N=34) 11% 8% 18% We do not have access to data © 2013 Planview, Inc.        |        25 51% #StateofPD 100%
  26. 26. Data Why is data inaccessible or inaccurate to make product decisions? (Select all  that apply) 55% Information is in silos, not centralized 40% Lack of consistency on metrics definition 37% Lack of ownership for reporting and analytics 35% Lack of robust technology, reliance on spreadsheets 0% 10% N=75 © 2013 Planview, Inc.        |        26 |        Confidential  #StateofPD 20% 30% 40% 50% 60%
  27. 27. Part IV FUTURE STATE © 2013 Planview, Inc.        |        27 |        Confidential  #StateofPD
  28. 28. Future State: Innovation Management  Maturity Medical Device Manufacturers: Which of the following best describes your  company’s end goal in terms of desired innovation maturity level? Don't know 18% Level 5 24% Level 4 29% Level 3 14% Level 2 8% No desire to advance 8% 0% 5% 10% N=91 © 2013 Planview, Inc.        |        28 |        Confidential  #StateofPD 15% 20% 25% 30%
  29. 29. Part V THE FOUR MISSING ELEMENTS © 2013 Planview, Inc.        |        29 |        Confidential  #StateofPD
  30. 30. The Four Missing Elements 1. A Defined Pathway 2. Strategic Alignment 3. Data 4. Culture © 2013 Planview, Inc.        |        30 |        Confidential  #StateofPD
  31. 31. Part VI RECOMMENDATIONS & NEXT STEPS © 2013 Planview, Inc.        |        31 |        Confidential  #StateofPD
  32. 32. Recommendation #1: THE TRUTH WILL SET YOU FREE © 2013 Planview, Inc.        |        32 |        Confidential  #StateofPD
  33. 33. Recommendation #2: STRATEGICALLY DEFINE THE DESTINATION © 2013 Planview, Inc.        |        33 |        Confidential  #StateofPD
  34. 34. Recommendation #3: THREE REALLY IS THE MAGIC NUMBER © 2013 Planview, Inc.        |        34 |        Confidential  #StateofPD
  35. 35. Recommendation #4: CULTURALLY ENCOURAGE INNOVATION © 2013 Planview, Inc.        |        35 |        Confidential  #StateofPD
  36. 36. Recommendation #5: A CALL TO ACTION FROM THE TOP © 2013 Planview, Inc.        |        36 |        Confidential  #StateofPD
  37. 37. Assess Your Company Using the Innovation Management Maturity Model™ PEOPLE PROCESS Level 1 Level 2 Level 3 Level 4 Desired End Game Level 5 © 2013 Planview, Inc.        |        37 |        Confidential  #StateofPD TOOLS
  38. 38. Next Steps & Additional Resources • Questions?  ProductPPM@planview.com • Download: Planview.com/4thReport • Assess: www.planview.com/InnovationModel • Subscribe:  www.TheProductPulse.com • Connect: Strategic Portfolio Management Group Product Portfolio Management Group • Contact : carrie@planview.com @PDPMprincess mcarlson@appleseedpartners.com @mocarlson © 2013 Planview, Inc.        |        38 |        Confidential  #StateofPD
  39. 39. … And Finally © 2013 Planview, Inc.        |        39 |        Confidential  #StateofPD

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