CIMdata PLM Industry Summary Online Archive
24 March 2005
Implementation Investments
MEDRAD, INC. Selects Centric Software for Innovation Management
Centric Software, Inc . announced that MEDRAD, INC., a global manufacturer of medical devices, has selected its Open PLMT solution for portfolio, project and innovation management within its corporate innovation organization.
A subsidiary of Schering AG, Germany, MEDRAD develops, manufactures, markets, and services medical devices that enhance the clarity of medical images of the human body. MEDRAD Innovations, which is responsible for research, technology development, and product concept development, has adopted Centric's solution to provide a structured approach for capturing and categorizing ideas and concept evaluations in the critical front-end of the product development cycle. Centric's solution will also provide a central repository for all intellectual property developed during the course of product concept development.
Innovative ideas can now be captured from internal and external sources and evaluated against specific evaluation criteria. Team members can share ideas and review them in a visual, collaborative environment. Project managers can track activities, deliverables, and all information related to their projects. MEDRAD executives can conduct strategic analysis and scenario evaluations critical to making product and project selection decisions.
"A key factor in MEDRAD's continued success will be how quickly we can bring new and innovative products to market," said Don Delauder, MEDRAD's director of product innovation and advanced development. "By allowing our scientists and engineers to better evaluate the viability of new ideas and concepts in the earliest stages of development, we are able to make more informed decisions about which products and projects should move forward and which should not."
"MEDRAD competes in an industry where ideas are highly valued because they foster the development of innovative new products that are the engines of competitive advantage and drive sustained top and bottom line growth," said Chris Groves, chief executive officer at Centric Software. "Centric's Open PLM approach will accelerate the new product development cycle and provide executive management valuable insight into the entire project and product portfolio."
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