Two Strategies to Free Capital Captured in Consignment Inventory No doubt you know about the La Brea Tar Pits, the gooey natural asphalt in present-day Los Angeles that trapped over three million animals during and since the last Ice Age. What captures our collective imagination is the idea that so many animals went in—and…
Three Ways to Reduce the Effects of Orthopedic-Specific Complexity Often the result of rapid growth, complexity can bring complications to your business, and it can imperil your growth and profitability. You’ve heard it before—from us, as well as from other professional sources that carry weight. Despite the challenges it brings, complexity isn’t all bad.…
A Closer Look at the Importance of Quality Critical Inspection Take a moment to imagine the idea-to-market development process for one of your devices. Starting at the concept phase, you move through design iterations, which culminate in final specifications. Your new product is then manufactured for the first time using component parts developed for…
The Key to Finding Synergies in Mergers and Acquisitions If you are pursuing growth through strategic merger and acquisition activity, ask yourself: what is the best way to realize the full potential of operational synergies? Taking a close look at how—and why it matters—is crucial to success. Mergers and acquisitions offer the promise of a…
Fuel Growth with a Strategic Move to Reduce Complexity, Manage Risk, and Maximize Liquidity Any truly successful business focused on profitability recognizes that more revenue and greater efficiency together will improve the bottom line like nothing else. Hungry for that improved bottom line, medical device manufacturers pursue the capture of more market share, often…
Successfully Navigating the Challenges of Compliance As a medical device manufacturer, you have one priority that takes precedence over all others: getting to market as quickly as possible to help patients—without, of course, sacrificing quality, safety, or outcomes. Actually getting to market quickly, though, is far from simple. What usually gets in the way?…
Simplifying the Complexity of Rapid Growth There was a time—not so long ago—in medical device manufacturing when the pursuit of topline revenue growth at almost any cost offered a sure path to success. To grow topline revenue, OEMs sometimes launched new products while legacy versions still flooded the market (some still do). Hungry to…
Sustaining Velocity: Four Key Considerations for OEMs In highly competitive industries—like orthopedic device manufacturing—time to market matters. Often, victory goes to those who can launch, produce, and deliver innovative products the fastest while maintaining the highest level of quality possible. This pressure forces OEMs to create and sustain velocity. Yet that’s easier said than…
Top Ways to Free Working Capital to Invest in Innovation Growing your business requires striking a careful balance between having access to free cash and optimally reinvesting resources in your future. Why? To answer that question simply and clearly, let’s look at the relationship between reinvestment, working capital, and growth. First, working capital is…
Four Ways to Counter the Pain of Rapid Growth James Cash Penney, who founded JCPenney in 1902, once said, “Growth is never by mere chance; it is the result of forces working together.” Though his quote comes from another time and sector, it’s as relevant today for the orthopedic medical device industry as it…