a. Which of the improvements in the new product development process that the Medtronic management team implemented strike or impress you as having been particularly crucial to turning the company around?
b. What are the costs and benefits of having implemented product line architecture and train schedule in the pacemaker business? Answer:
a. I am so impressed with the platform strategy, even though the other 5 processes were also contributed to the turning of Medtronic back to its rhythm. The platform strategy was an answer to the Medtronic’s inability to introduce new product ahead of its competitors.
Some factors …show more content…
This helped them to set milestones to ensure achievement of this schedule.
This systematized process in getting input from customers by revitalizing two eight – person review board helped Medtronic to always on top of their customer needs.
b. Costs and benefits of having implemented product line architecture and train schedule in the pacemaker business
Product line architecture
Costs: more resources were required to execute the platform strategy which is the basis to enable Medtronic in getting the product line architecture. New technology needed to be in place before beginning a platform project. A lot of competent people are required to ensure new technology is timely in place. They have to establish a product planning team who are responsible to define a platform strategy i.e.,to devise an effective product line architecture built around product platforms.
Benefit: by having product line architecture, the new product will be very effective in term of its market life as well as market reach. Having initial platform product designed It can accommodate the full range of derivative models from it, without significant redesign therefore it will reduce investment of time and money significantly.
Cost: An intensive cross functional communication shall be properly managed to ensure synergy between those functions. Marketing, engineering and other department shall be involved in-depth up front to ensure milestones are achieved