- What projects are being deferred or delayed because your engineering resources are over-allocated?
- Are inefficient design, prototyping and testing cycles leading to R&D cost overruns?
- Is your project at risk of missing the medical device speed to market or budget requirements?
Companies who engage an engineering team with deep expertise in designing for manufacturability can achieve targeted project timelines. They can also design for supply chain and cost compared to companies who design new technologies using only in-house and contract resources.
Medical Device Speed to Market
Our client, a global cancer care technology company, was working on the development of life-changing medical device technology. Their internal development team was deployed on multiple projects simultaneously and those resource-constraints kept the team from progressing as fast as they needed. In addition to the design and development work, the team also faced a lengthy process to get regulatory approval on their new technology.
Design for Manufacturability, Supply Chain & Cost:
Engaging engineering design resources with deep manufacturing knowledge prior to a design freeze makes prototyping cycles more efficient. It also lowers product development costs and improves development lead times. The engineering team will be able to consider manufacturability, supply chain and cost during the earliest phases of design.
In order to achieve the medical device speed to market, our client’s product development team realized a key factor for success. They found early engagement with a design team strategically embedded in a manufacturing environment would provide the expertise, insight and resources necessary to achieve their product launch goals. Plus, a collaborative relationship would allow our client to fine-tune the design to optimize manufacturability, supply chain and cost. This strategic design for manufacturability’ mindset guided the team as they developed the technology.
Early collaboration during the design process is crucial to achieving speed to market. In the McKinsey & Co. classic study, they found a product that’s 6 months late to market earns 33-percent less profit over the first 5 years on the market. Likewise, if a new product is released on schedule, an overage in the development budget typically only impacts profits by 4 percent in that same first five-year window.
By partnering with Nortech early and integrating our engineering designers into the team early, the client’s entire team had access to more insights. Those included a deeper look into the design’s manufacturability, supply chain availability and costs right from the start. This perspective allowed the team to execute the process all the way from the initial design with optimal efficiency. It resulted in a product launch and regulatory approval that was both on-time and on-budget.
Nortech Medical Device Project Results
Developing new technologies in-house can be complicated and timely, even for large global organizations like our client. They understood that bringing together their in-house team with Nortech’s specialized resources, would contain costs while avoiding unnecessary cycles of design, development and prototyping.
Through close collaboration, Nortech’s engineering team was able to build prototypes, provide material selection, and help keep the project plan on track from the initial design through regulatory approval. Members of Nortech’s engineering team are full-time at the client’s location, and the project is currently in the verification phase on track for a timely and successful launch.
Learn more about Nortech’s program management and product launch processes now!