The Business Case for Materials Information Management in Medical Device Design

Sarah Egan and Stephen Warde
© 2012, Granta Design

Less risk of product recalls, faster time-to-market, greater R&D productivity, and improved regulatory submissions

Materials information, its management and use, can have a profound impact on medical device organizations. In this paper, we explain why, and examine the potential benefits of best practice. These returns include:

  • Reducing the risk of product recalls that potentially incur multi-million dollar costs.
  • Cutting weeks or months from time-to-market for medical device products. Time-to-market is a key determinant of profitability for high tech companies.
  • Freeing up engineering time to do more productive work—our estimates for a typical device company of $1bn revenues suggest potential gains exceed $500,000.
  • Making better products that can increase your market share.
  • Improving traceability for vital data, helping you to increase customer satisfaction and cut regulatory approval times.

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