27th January 2009
Cambridge Consultants and Philips Healthcare call for R&D focus during tough times
- Keep your R&D portfolio focused, robust and aligned with the changing market, recommend experts at Front End of Innovation Europe
During challenging economic times, it is crucial for companies to take a strategic view of their R&D portfolios if they are to achieve best value for money development, said AJ Van Bochoven of Cambridge Consultants at the third annual Front End of Innovation conference in Monaco today. Companies no longer have the luxury of pursuing all possible technology routes, and a “technology portfolio management” approach will ensure that a company’s development efforts are aligned with market needs.
Mr Van Bochoven, joined by Mr Maurits Wolleswinkel, Senior Director, Global Marketing of MRI Systems at Philips Healthcare, was speaking as a thought leader during the event. Philips Healthcare worked with Cambridge Consultants through an in-depth technology portfolio review that helped align its technology strategy with that of marketing, creating a robust, adaptable portfolio that makes the most of limited resources.
“It is not unheard of for research portfolios to spiral out of control. Often projects expand, extend, deviate and lose a sense of purpose, all because different departments pull in different directions” said Mr Van Bochoven at the event. “With Philips Healthcare, we brought people from different departments together so key stakeholders understood and agreed on the difficult trade offs that had to be made on aspects such as focusing on existing or new customers and cost reduction or product improvement. In today’s uncertain macro-economic environment, the relative merits of these choices can change rapidly. The technology portfolio and the key stakeholders therefore need to be able to adapt quickly to these changing environments.”
Cambridge Consultants’ Technology Portfolio Creation process works backwards from expected future outcomes and desired product launches to put in place the right seed projects early on to fuel a productive innovation funnel.
“Most companies need to maximise the results they derive from limited development resources,” said Mr Wolleswinkel. “Going through the Cambridge Consultants portfolio management process helped us link research and development projects directly to customer needs which gave a clear focus to our technology roadmap. It even led us to reposition an imminent product launch, which resulted in a very positive market response to our new Multi-transmit technology.”
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Notes for editors:
Cambridge Consultants develops breakthrough products, creates and licenses intellectual property, and provides business consultancy in technology critical issues for clients worldwide. For over 50 years, the company has been helping its clients turn business opportunities into commercial successes, whether they are launching first-to-market products, entering new markets or expanding existing markets through the introduction of new technologies. With a team of over 300 engineers, designers, scientists and consultants, in offices in Cambridge (UK) and Boston (USA), Cambridge Consultants offers solutions across a diverse range of industries including medical technology, industrial and consumer products, transport, energy, cleantech and wireless communications.
Created by three Cambridge graduates in 1960, the company has grown into a leading technology business, renowned worldwide for its ability to solve technical problems and provide innovative, practical solutions to commercial issues. In 2009, the company was awarded the prestigious Queen’s Award for Enterprise in International Trade, and in 2011 was awarded a second Queen's Award, this time for Innovation. For more information visit: www.CambridgeConsultants.com
Cambridge Consultants is part of Altran, the European leader in innovation and high technology consulting. The Group’s 17,500 consultants, operating worldwide, cover the entire range of engineering specialities, including electronics, information technology, quality and organisation. Altran offers its clients ongoing support throughout the innovation cycle, from technology watch, applied basic research and management consulting to industrial systems engineering and information systems. The Group provides services to most industries, including the automotive, aeronautics, space, life sciences and telecommunications sectors. Founded in 1982, Altran operates in 20 priority countries. In 2010, it generated a turnover of €1,430 million. For more information visit: www.altran.com
Royal Philips Electronics of the Netherlands (NYSE: PHG, AEX: PHI) is a diversified Health and Well-being company, focused on improving people’s lives through timely innovations. As a world leader in healthcare, lifestyle and lighting, Philips integrates technologies and design into people-centric solutions, based on fundamental customer insights and the brand promise of “sense and simplicity”. Headquartered in the Netherlands, Philips employs approximately 128,000 employees in more than 60 countries worldwide. With sales of $42 billion (EUR 27 billion) in 2007, the company is a market leader in cardiac care, acute care and home healthcare, energy efficient lighting solutions and new lighting applications, as well as lifestyle products for personal well-being and pleasure with strong leadership positions in flat TV, male shaving and grooming, portable entertainment and oral healthcare. News from Philips is located at www.philips.com/newscenter.
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