Innovative Product Lifecycle Management Solution Reduces Time-to-Market
Challenge
Alaris® Products needed to streamline and speed up the development of new products to remain a market leader. The challenge was to shave 30 days off the product development cycle to introduce products to market faster. The company needed to simplify and expedite internal processes to bring new solutions to customers faster while meeting FDA requirements for Part 11 compliance.
Solution
As part of an enterprise resource planning project, Alaris and Clarkston built a fully validated product lifecycle management (PLM) solution. The system streamlines electronic approval processes and digital signature capabilities around two key areas:
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Engineering Change Management - Streamlines electronic approval with digital signature capability and the automatic routing of engineering changes for approval and red lining |
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Document Management - Facilitates collaboration with the ability to capture, approve, track, and electronically store critical documents |
Now documents are automatically routed to the right people to accept or collaborate on changes, thus providing visibility into the collaboration process.
Benefits
The initiative was successful in cutting 30 days off new product development and launch contributing to a $4 million increase in annual revenues. The continued expected Return on Investment is as follows:
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$8 million annual revenue enhancement through improved customer service and satisfaction |
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$2 million annual savings by increased operating efficiency |
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$5 million annual cost avoidance through enhanced enterprise visibility |
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Increased product reliability and compliance with an estimated $25 million revenue over three years |
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