The life sciences industry faces both unprecedented opportunities and challenges. The new value-driven environment (not to mention the new millions of people gaining insurance coverage, or the legion of aging baby boomers) demands innovative new products that improve patient outcomes. Simultaneously, heightened regulatory and cost-cutting demands require a whole new approach to product and market development.
Historically, high profit margins have fueled medical device R&D – but in a margin-pressed future, successful companies will be those that create new development and commercialization models, streamlining processes and leveraging partnerships. But new products aren’t enough; new operating models are needed, too, allowing OEMs to concentrate on, and profit from, core competencies while effectively reducing the burden and cost of secondary functions.
Argo brings fresh insight to the application of proven tools, such as VA/VE, helping medical equipment and pharmaceutical companies transform R&D effectiveness, acquisition integration, supply chain transformation, asset productivity and margin improvement.
Our approach helps Life Sciences clients focus operations for better alignment with strategy achieving sustainable results by:
- Improving overall labor performance while increasing retention.
- Creating and rolling out standardized processes across multiple departments.
- Using tools like VaVe on products to effectively translate R&D ideas into cost effective products and services.
- Reducing order to cash cycles, whether attaching order entry, process times, inventories, or accounts payable.
- Using training and follow-up techniques to ensure that desired behaviors such as customer service practices become ingrained in organizational culture.
Our global team of consultants has a depth of technical operations expertise and a proven track record of leading and implementing successful transformations. Our people bring a wide range of professional experience from some of the most operationally excellent companies in the world.
We diagnose areas of waste, variability, and inefficiency in the operating system and then redesign, and implement, not just the new production system, but also the management structure that improves the bottom line and ensures accountability and sustainability. By working hand-in-hand with our client’s employees, we ensure the buy-in from the senior leadership team all the way to the front line employee, leaving behind a new culture, mindsets and behaviors.