Multiobjective strategies for New Product Development in the pharmaceutical industry

New Product Development (NPD) constitutes a challenging problem in the pharmaceutical industry, due to the characteristics of the development pipeline. Formally, the NPD problem can be stated as follows: select a set of R&D projects from a pool of candidate projects in order to satisfy several criteria (economic profitability, time to market) while coping with the uncertain nature of the projects. More precisely, the recurrent key issues are to determine the projects to develop once target molecules have been identified, their order and the level of resources to assign. In this context, the proposed approach combines discrete event stochastic simulation (Monte Carlo approach) with multiobjective genetic algorithms (NSGAII type, Non-Sorted Genetic Algorithm II) to optimize the highly combinatorial portfolio management problem. In that context, Genetic Algorithms (GAs) are particularly attractive for treating this kind of problem, due to their ability to directly lead to the so-called Pareto front and to account for the combinatorial aspect. This work is illustrated with a study case involving nine interdependent new product candidates targeting three diseases. An analysis is performed for this test bench on the different pairs of criteria both for the bi- and tricriteria optimization: large portfolios cause resource queues and delays time to launch and are eliminated by the bi- and tricriteria optimization strategy. The optimization strategy is thus interesting to detect the sequence candidates. Time is an important criterion to consider simultaneously with NPV and risk criteria. The order in which drugs are released in the pipeline is of great importance as with scheduling problems

Multiobjective strategies for New Product Development in the pharmaceutical industry

New Product Development (NPD) constitutes a challenging problem in the pharmaceutical industry, due to the characteristics of the development pipeline. Formally, the NPD problem can be stated as follows: select a set of R&D projects from a pool of candidate projects in order to satisfy several criteria (economic profitability, time to market) while coping with the uncertain nature of the projects. More precisely, the recurrent key issues are to determine the projects to develop once target molecules have been identified, their order and the level of resources to assign. In this context, the proposed approach combines discrete event stochastic simulation (Monte Carlo approach) with multiobjective genetic algorithms (NSGAII type, Non-Sorted Genetic Algorithm II) to optimize the highly combinatorial portfolio management problem. In that context, Genetic Algorithms (GAs) are particularly attractive for treating this kind of problem, due to their ability to directly lead to the so-called Pareto front and to account for the combinatorial aspect. This work is illustrated with a study case involving nine interdependent new product candidates targeting three diseases. An analysis is performed for this test bench on the different pairs of criteria both for the bi- and tricriteria optimization: large portfolios cause resource queues and delays time to launch and are eliminated by the bi- and tricriteria optimization strategy. The optimization strategy is thus interesting to detect the sequence candidates. Time is an important criterion to consider simultaneously with NPV and risk criteria. The order in which drugs are released in the pipeline is of great importance as with scheduling problems

Global supply chains of high value low volume products

Imperial Users onl

Strategic Marketing and Firms Performance:a Study of Nigerian Oil and Gas Industry

The purpose of this paper is to investigate the impact of strategic marketing and firms performance of the Nigerian oil and gas industry. This study adopted a survey research methodology to examine strategic marketing and firms performance of Nigerian oil and gas marketing companies in an attempt to attain their desired level of performance. One hypothesis was formulated from the statement of research problem. Analysis of Variance, Pearson Moment Correlation Analysis, Factor Analysis among other statistical tools were used in testing the hypotheses. The overall results suggest that strategic marketing is a driver of organizational positioning in a dynamic environment, and that it helps to enhance the development of new product/service for existing markets. These findings,along with other interesting findings of the study, are discussed. From the empirical and anecdotal managerial evidence as well as from the literature implications are drawn for the efficient and effective strategic marketing in the Nigerian oil and gas industr

Assessing partnership alternatives in an IT network employing analytical methods

One of the main critical success factors for the companies is their ability to build and maintain an effective collaborative network. This is more critical in the IT industry where the development of sustainable competitive advantage requires an integration of various resources, platforms, and capabilities provided by various actors. Employing such a collaborative network will dramatically change the operations management and promote flexibility and agility. Despite its importance, there is a lack of an analytical tool on collaborative network building process. In this paper, we propose an optimization model employing AHP and multiobjective programming for collaborative network building process based on two interorganizational relationships’ theories, namely, (i) transaction cost theory and (ii) resource-based view, which are representative of short-term and long-term considerations. The five different methods were employed to solve the formulation and their performances were compared. The model is implemented in an IT company who was in process of developing a large-scale enterprise resource planning (ERP) system. The results show that the collaborative network formed through this selection process was more efficient in terms of cost, time, and development speed. The framework offers novel theoretical underpinning and analytical solutions and can be used as an effective tool in selecting network alternatives

Export diversification and resource-based industrialization: the case of natural gas

For resource-rich economies, primary commodity specialization has often been considered to be detrimental to growth. Accordingly, export diversification policies centered on resource-based industries have long been advocated as effective ways to moderate the large variability of export revenues. This paper discusses the applicability of a mean-variance portfolio approach to design these strategies and proposes some modifications aimed at capturing the key features of resource processing industries (presence of scale economies and investment lumpiness). These modifications help make the approach more plausible for use in resource-rich countries. An application to the case of natural gas is then discussed using data obtained from Monte Carlo simulations of a calibrated empirical model. Lastly, the proposed framework is put to work to evaluate the performances of the diversification strategies implemented in a set of nine gas-rich economies. These results are then used to formulate some policy recommendations

Practices for strategic capacity management in Malaysian manufacturing firms

While the notion of manufacturing capabilities is a long-standing notion in research on operations management, its actual implementation and management has been hardly researched. Five case studies in Malaysia offered the opportunity to examine the practice of manufacturing managers with regard to strategic capability management. The data collection and analysis was structured by using the notion of Strategic Capacity Management. Whereas traditionally literature has demonstrated the beneficial impact of an appropriate manufacturing strategy on the business strategy and performance, the study highlights the difficulty of managers to set the strategy, let alone implementing it. This is partly caused by the immense pressure of customers in these dominantly Make-To-Order environments for SMEs. Current concepts for manufacturing capabilities have insufficiently accounted this phenomenon and an outline of a research agenda is presented

Socio-technical transition processes: A real option based reasoning.

Using a real option reasoning perspective we study the uncertainties and irreversibilities that impact the investment decisions of firms during the different phases of technological transitions. The analysis of transition dynamics via real options reasoning allows the provision of an alternative and more qualified explanation of investment decisions according to the sequentiality of pathways considered. In our framework, flexibility management through option investments concerns both the incumbent and the future technological regime. In the first case it refers to ex-post flexibility management and in the second case to ex-ante flexibility management.

Lean technology development

Thesis (S.M.)--Massachusetts Institute of Technology, Technology and Policy Program, 2001.Includes bibliographical references (leaves 89-91).In today's corporate world, successful technology management is separating market leaders from laggards. Because technology is in constant change and what is state-of-the-art today will be obsolete tomorrow, it is not companies with the best technologies that ultimately succeed. Instead, successful companies are those that succeed in institutionalizing and sustaining an efficient technology development process. Moreover, this process must be continuously improved by applying new techniques and concepts to cope with the increasing challenges of technology management. This thesis will explore the extent to which Lean principles can be applied in technology development and how they can contribute to achieving new technology development imperatives (fast cycle time, increasing number of technology introductions, etc.). In order to answer these questions, the thesis proceeds in a logical manner by decomposing the objectives of technology development into organizational solutions using Axiomatic Design. Then, Lean principles as they have developed within the Product Development Focus Team of the Lean Aerospace Initiative are mapped into the above decomposition. The research concludes that under some additional considerations, Lean principles do lead to the achievement of technology development objectives. More, the above theoretical research is applied to a real world case: Technology development at Ford Motor Company. After an assessment of the current process, opportunities of improvement are identified and a leaner process is proposed. Finally, issues and opportunities with OEMs-Suppliers partnerships for new technological systems development are studied. The objective was to formulate policies and make recommendations for a better management of technology supply.by Salim Bouzekouk.S.M

The resource-based view within the conversation of strategic management

Includes bibliographical references