CHAPEL HILL, N.C., Jan. 31 /PRNewswire/ -- The new product development process is exceedingly complex. It spans many years, involves multitudes of people, and consumes hundreds of millions of dollars in capital resources. Not surprisingly, one pharmaceutical marketing executive noted: "This process is so complex that no single person in the organization actually knows how all the parts work."
For this reason, benchmark partners emphasize the importance of standardizing the new-product development process while implementing strong cross-functional launch teams. This team's role of shaping the compound into a successful product is just as important as the biological attributes of the compound. With standardization, individuals and teams can better understand where and how to introduce market insights into the long-spanning commercialization process.
The report, "Managing Cross-Functional Teams for Pharmaceutical Product
Commercialization Excellence," delivers proven practices that best-in-class
firms use to enable and manage effective cross-functional teams, such as
empowering launch teams to make key decisions and team members following
well- established, standardized processes.
Download a complimentary study summary at http://www3.best-in-class.com/rr906.htm.
Learn from industry leaders, including Amgen, AstraZeneca, Bayer, Eli Lilly GlaxoSmithKline, Johnson & Johnson, Merck, Novartis, Pfizer, and Wyeth. Executives in pharma and biotech companies can use this research to build and manage strong launch teams that can excel across functions, units and regions.
High-performing systems find many places and methods to introduce
standardization into commercialization activities, for example:
-- Conduct strategy meetings to forge consensus between Strategic
Marketing, Decision Analytics, R&D, Regulatory, Finance
-- Model markets for R&D and marketing organizations
-- Prioritize product lists using qualitative and quantitative
methodologies (NPVs, performance criteria scorecards)
-- Conduct therapeutic area-specific CI
-- Develop portfolio valuations that embed commercial perspectives in the
-- Provide input for clinical trial design and desired clinical outcomes
-- Conduct product risk analyses
Download additional process excellence tactics and best practices for building successful cross-functional teams in the study summary at: http://www3.best-in-class.com/rr906.htm.
This benchmarking report highlights the following areas of cross-
functional team management:
-- Cross-Functional Team Structures
-- Collaboration and Productivity Processes
-- People Management
-- Decision-Making Processes
-- Communication and Collaboration
-- Resource Allocation
For more information contact our Solution Specialists at (919) 403-0251 or firstname.lastname@example.org.
ABOUT BEST PRACTICES, LLC
Best Practices, LLC, conducts work based on the simple yet profound principle that organizations can chart a course to superior economic performance by studying the best business practices, operating tactics and winning strategies of world-class companies. Best Practices, LLC has been a leader in pharmaceutical research and consulting for nearly 15 years; our clients include 43 out of the top 50 pharmaceutical companies.
|SOURCE Best Practices, LLC|
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