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Product development delays mean prolonged timelines and missed launch dates, which result in budget shortfalls, stunted fiscal growth, even potential company failure. At best, the impact of a delayed product launch is lost revenue and market share opportunity. As the economic climate has become more challenging, the need for a formal, flexible, and proactive development process has become key to a company’s success. Adherence to such a process maximizes efficiencies and facilitates speed-to-market while ensuring FDA and ISO compliance, but implementation and ongoing execution can be challenging. This panel will examine potential issues inherent in the creation of a robust and formal product development process (PDP) and the operational framework necessary for its success. Panelists from several medical device companies will share tips on anticipating and conquering challenges and common pitfalls, based on their own experiences.
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