Product portfolio management: An analysis of a large medical device company
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Date
2013-07Author
Cormican, Kathryn
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O Connor, A. and Cormican, K. (2013) Product portfolio management: An analysis of a large medical device company 10th International Conference on Product Lifecycle Management Nantes, France, 2013-07-06- 2013-07-10
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Abstract
This paper focuses on product portfolio management in a
large multinational medical device organisation. The contribution of
this research is to provide insights into the nature, composition and
decision making processes of product portfolios in a real world setting.
The research is important because portfolio management decisions
have a significant impact and influence the performance at
each stage in the product life cycle. Results of the study indicate that
portfolio management is a complex process in general but particularly
challenging when dealing with technology development projects
or innovative new products as unchartered waters are difficult to assess.
We found that there are challenges with transparency and that
stakeholders need fact based and information driven decisions.
There is a need for better up front planning and systems to guide the
process. Consistent criteria should be used to select and prioritise
projects to facilitate better comparative ranking and allow for balanced
portfolios, as well better resource distribution. However we
also found that these criteria may change depending on the stage in
the lifecycle.