roadmap to sustainable innovation for medical device manufacturers
Post on 20-Oct-2014
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DESCRIPTION
How nearly 100 Medical Device Manufacturers assessed their current innovation management capabilities and how they can improve productivity, time-to-market, and commercial success.TRANSCRIPT
© 2013 Planview, Inc. | 1 | Confidential #StateofPD
The State of Product Development in 2013Medical Device Manufacturers: A Need for Speed and a
Roadmap to Sustainable Innovation
Maureen Carlson,Appleseed PartnersCarrie Nauyalis,Planview
© 2013 Planview, Inc. | 2 | Confidential #StateofPD
Welcome & Introductions
Maureen CarlsonChief Researcher, Appleseed Partners
Carrie NauyalisNPD Solution Evangelist, Planview
© 2013 Planview, Inc. | 3 | Confidential #StateofPD
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. | 4 | Confidential #StateofPD
Study Background
Why?“Too many projects for our resources!”
Need for Faster Innovation
To learn about the state of product portfolio management, innovation and trends
Who?Surveyed more than 500 globally‐based Product Development Leaders. Today, we focus on nearly 100 participants from Medical Devices Industry!
How?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
© 2013 Planview, Inc. | 5 | Confidential #StateofPD
New Data, New Perspectives
What do you want to learn this year?
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What is the difference on What is the difference on pain points, business risks,
productivity and commercial success for the
most mature companies compared with the least
mature companies?
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Ranking on Innovation Management Maturity: 3 Vectors
• Organization Structure• Center of Excellence to Manage Innovation
PeoplePeople
• Commercialization Process• Stage Gate® or Phase‐Gate Process• Ideation through Prioritization; and Launch to Sunset
ProcessesProcesses
• Automating with Best of Breed Applications
• Integrated Tools across the EnterpriseToolsTools
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CURRENT STATE: INNOVATION MANAGEMENT MATURITY
Part I
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Innovation Management Maturity Model
PEOPLE PROCESS TOOLS
Level 1
Level 2
Level 3
Level 4
Level 5
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Innovation Maturity ̶ People
0% 5% 10% 15% 20% 25% 30% 35% 40%
Level 1
Level 2
Level 3
Level 4
Level 5
13%
35%
30%
13%
9%
Medical Device Manufacturers: Which of the following best describes the innovation maturity level of your company in terms of
PEOPLE?
N=91
© 2013 Planview, Inc. | 12 | Confidential #StateofPD
Innovation Maturity ̶ Process
0% 5% 10% 15% 20% 25% 30% 35% 40%
Level 1
Level 2
Level 3
Level 4
Level 5
9%
24%
40%
18%
10%
Medical Device Manufacturers: Which of the following best describes the innovation maturity level of your company in terms of
PROCESS?
91N=
© 2013 Planview, Inc. | 13 | Confidential #StateofPD
Innovation Maturity ̶ Tools
0% 10% 20% 30% 40% 50%
Level 1
Level 2
Level 3
Level 4
Level 5
11%
23%
45%
19%
2%
Medical Device Manufacturers: Which of the following best describes the innovation maturity level of your company in terms of
TOOLS?
91N=
© 2013 Planview, Inc. | 14 | Confidential #StateofPD
Innovation Maturity ̶ Overall
0% 5% 10% 15% 20% 25% 30% 35% 40% 45%
Level 1
Level 2
Level 3
Level 4
Level 5
7%
31%
43%
19%
1%
Medical Device Manufacturers: How would you rate your company’s OVERALL maturity level?
91N=
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CURRENT STATE: PAIN POINTS & RISKS
Part II
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Pain Points
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Risks
0% 10% 20% 30% 40% 50% 60% 70%
Missing the voice of the customer/marketrequirements and developing the wrong product
Not meeting the expected revenue targets of theproduct
Unclear priorities as business conditions change
Time to market – i.e. missing competitive or seasonal windows
48%
53%
58%
60%
What are your greatest risks when managing a product portfolio? (Rank in order of top 3)
N=91
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Risks
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CURRENT STATE: STRATEGIC PLANNING, DATA, CULTURE
Part III
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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. | 21 | Confidential #StateofPD
Data
I don't know22%
Yes25%
No53%
Is your company killing products early enough in the commercialization process?
N=91
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Data
0%
20%
40%
60%
80%
100%
Level 1&2 (N=34) Level 3 (N=39) Level 4&5(N=18)
15%28%
39%
53%
56%44%
32%
15% 17%
Is your company killing products early enough in the commercialization process? (By Maturity Level)
I don't know
No
Yes
Caution: small sample sizes. Data is directional only.
© 2013 Planview, Inc. | 23 | Confidential #StateofPD
Data
0% 20% 40% 60%
Opportunity costs are not clear
Everything passes approval due to an undefined strategy andsupporting metrics
Gated process is driven by personality instead of data
Kill criteria is unclear or nonexistent
Lack of rigor in determining highest return, highest valueproducts
29%
30%
33%
47%
42%
27%
31%
40%
48%
58%
Why isn’t your company killing more products or projects during the commercialization process? (Select top 3)
MEDICAL DEVICEMANUFACTURERS (N=48)
ALL PARTICIPANTS (N=280)
Caution: small sample size for Medical Device Manufacturers.. Data is directional only.
© 2013 Planview, Inc. | 24 | Confidential #StateofPD
Data
0% 10% 20% 30% 40% 50% 60%
Other
We do not have access to data
We have access to data, but it can be inaccuratefor various reasons
We have access to data, but it is not timely orcurrent
We have immediate access to accurate data
0%
11%
53%
19%
18%
Which of the following best describes your access to accurate data necessary to make product decisions?
N=91
© 2013 Planview, Inc. | 25 | Confidential #StateofPD
Data by Maturity Level
0% 50% 100%
Other
We do not have access to data
We have access to data, but it can beinaccurate for various reasons
We have access to data, but it is nottimely or current
We have immediate access toaccurate data
0%
18%
68%
3%
12%
0%
8%
51%
31%
10%
0%
11%
28%
17%
44%
Which of the following best describes your access to accurate data necessary to make product decisions?
(By Maturity Level)
Level 4&5(N=18)Level 3 (N=39)Level 1&2 (N=34)
Caution: small sample sizes. Data is directional only.
© 2013 Planview, Inc. | 26 | Confidential #StateofPD
Data
0% 10% 20% 30% 40% 50% 60%
Lack of robust technology, reliance on spreadsheets
Lack of ownership for reporting and analytics
Lack of consistency on metrics definition
Information is in silos, not centralized
35%
37%
40%
55%
Why is data inaccessible or inaccurate to make product decisions? (Select all that apply)
N=75
© 2013 Planview, Inc. | 27 | Confidential #StateofPD
FUTURE STATEPart IV
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Future State: Innovation Management Maturity
0% 5% 10% 15% 20% 25% 30%
No desire to advance
Level 2
Level 3
Level 4
Level 5
Don't know
8%
8%
14%
29%
24%
18%
Medical Device Manufacturers: Which of the following best describes your company’s end goal in terms of desired innovation maturity level?
N=91
© 2013 Planview, Inc. | 29 | Confidential #StateofPD
THE FOUR MISSING ELEMENTSPart V
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The Four Missing Elements
1. A Defined Pathway
2. Strategic Alignment
3. Data
4. Culture
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RECOMMENDATIONS & NEXT STEPSPart VI
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Recommendation #1:THE TRUTH WILL SET YOU FREE
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Recommendation #2:STRATEGICALLY DEFINE THE DESTINATION
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Recommendation #3:THREE REALLY IS THE MAGIC NUMBER
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Recommendation #4:CULTURALLY ENCOURAGE INNOVATION
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Recommendation #5:A CALL TO ACTION FROM THE TOP
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Assess Your Company Using theInnovation Management Maturity Model™
PEOPLE PROCESS TOOLS
Level 1
Level 2
Level 3
Level 4
Level 5 Desired End Game
© 2013 Planview, Inc. | 38 | Confidential #StateofPD
Next Steps & Additional Resources• Questions? [email protected]
• Download: Planview.com/4thReport
• Assess: www.planview.com/InnovationModel
• Subscribe: www.TheProductPulse.com
• Connect: Strategic Portfolio Management Group
Product Portfolio Management Group
• Contact : [email protected] @PDPMprincess
[email protected] @mocarlson
© 2013 Planview, Inc. | 39 | Confidential #StateofPD
… And Finally