Product Lifecycle Management In Healthcare Discussion

Product Lifecycle Management In Healthcare Discussion

Discussion Response

Hi,

Great post! You have presented some extremely compelling arguments on product lifecycle management in healthcare. In order for healthcare organizations to effectively manage the revolutionary macro trends that are influencing the sector, I believe that product lifecycle management is an essential business process tool that should be used. Some of the trends that have trends that have necessitated product lifecycle management include fast innovation driven by technological advancements, shortened product development and delivery periods, an increase in the impact and rivalry of unconventional healthcare providers, and a changing regulatory environment (MacCarthy & Pasley, 2021)Product Lifecycle Management In Healthcare Discussion.

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In addition, I am of the opinion that the healthcare industry may turn to other sectors, such as consumer technology and transportation, for inspiration on successful tactics for satisfying market needs while also being proactive about addressing possible dangers and adverse effects. The most effective way for original equipment manufacturers (OEMs) to guarantee that their products are able to keep up with developing technology is to ensure that their goods are designed with modular product design in mind (MacCarthy & Pasley, 2021). If the supply chain effects and concerns are not at the forefront of the overall lifecycle plan, the organization runs the danger of losing ground against rivals that are quicker and more agile Product Lifecycle Management In Healthcare Discussion.

References

MacCarthy, B. L., & Pasley, R. C. (2021). Group decision support for product lifecycle management. International Journal of Production Research, 59(16), 5050-5067. https://www.tandfonline.com/doi/abs/10.1080/00207543.2020.1779372 Product Lifecycle Management In Healthcare Discussion