Pharmaceutical Technologist - September/October 2008 - (Page 26)

Product life cycle management incorporates more applications that are specific to the industry and is offered as an off-the-shelf, easily configurable solution, the technology will be widely adopted by pharma organizations. In the meantime, it may be advantageous for pharma companies and PLM solution providers to partner together. Some of the most successful and innovative pharma companies have partnered with a technology vendor to pursue a customized enterprise PLM implementation. By working collaboratively with the organization to develop the solution, vendors can gain the organization’s loyalty, trust and business for years to come. In addition, a partnership allows vendors to learn more about the pharma industry and the unique nuances of the drug development process, thus providing them with the appropriate knowledge and tools to develop a configurable, off-the-shelf solution for the entire industry. Conclusion The pharmaceutical industry is in dire need of IT solutions that will automate and streamline the drug development process. PLM technology aligns well with specific pharma business processes, positioning it as an essential strategic tool that all companies must leverage if they are to compete in the growing global market. PLM presents an opportunity for companies to transform the existing drug life cycle process, which is currently very disparate and siloed. Understanding the impact a PLM strategy would have on the product life cycle process is important for pharma executives if they are to make a business case for PLM implementation, as well as for technology vendors that must design and develop solutions that resonate with this industry. A comprehensive PLM strategy can greatly enhance the level of collaboration among multiple organizational units and speed up new product development. However, for PLM implementation to be successful, it must begin at a much earlier stage in the drug development process, encompassing discovery through to commercialization. Organizations that do not go the route of adopting a PLM strategy and solution will soon find themselves lagging behind their more proactive, forward-thinking competitors who will be enjoying the benefits of their new knowledge-centralized resources. PT Ruchi Mallya is a Pharmaceutical Technology Analyst for Datamonitor (NY, USA). 26 SEPTEMBER/OCTOBER 2008 PHARMACEUTICAL TECHNOLOGIST

Table of Contents Feed for the Digital Edition of Pharmaceutical Technologist - September/October 2008

Pharmaceutical Technologist - September/October 2008 Contents Industry Highlights Morpheus Market Watch Smoke and Mirrors Reducing Data Burdens Keeping it Simple Bringing Pharma Up to Date

Pharmaceutical Technologist - September/October 2008

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