Product lifecycle management (PLM) software and services solutions are still a nascent market for the pharmaceutical industry. Datamonitor believes that unless the industry adopts a strategic approach to PLM, the technology will remain a tactical solution whose potential is not maximized.

Scope

Examines essential ingredients of sales strategies for PLM vendors serving the pharmaceutical industry
Identifies strategies vendors should use to develop more effective relationships and win business from life science companies
Offers insight into the vendor attributes valued most by pharmaceutical companies when selecting a vendor

Report Highlights

Pharmaceutical product lifecycle management technology is gaining momentum

PLM in the life sciences should map to business processes, managing process complexity

PLM is successful when treated as an enterprise, strategic initiative

Reasons to Purchase

Understand how to position PLM solutions when targeting pharmaceutical and biotechnology companies
Discover new ways to leverage relationships as a tool to drive market penetration
Gain insight into Datamonitor' s perspective on what makes a vendor successful

DATAMONITOR VIEW
- CATALYST
- SUMMARY
ANALYSIS
- Pharmaceutical product lifecycle management technology is gaining momentum
  - A variety of challenges is fueling PLM adoption in the pharmaceutical industry
  - Cultural and technological barriers have inhibited wider adoption of PLM in the pharmaceutical market
  - PLM in the pharmaceutical industry is poised for strong growth and vendors have an important role to play
- PLM in the life sciences should map to business processes, managing process complexity
  - Pharmaceutical companies produce what they discover, not what they invent
  - The pharmaceutical sector looks for PLM that can manage process complexity
- PLM is successful when handled as an enterprise, strategic initiative
  - As part of a company' s product development business strategy, PLM is discussed among executives
  - Collaboration, through enterprise PLM, breaks down individual silos
  - Reducing drug development costs is a major strategic goal for implementing enterprise PLM
  - The benefits of an enterprise-wide PLM solution do come with risks
  - A phased implementation approach is most likely for pharmaceutical organizations
- Partnering with a technology vendor may be a necessary PLM strategy
  - A long-term commitment to the project indicates a willingness to share risk
  - Innovative and flexible vendors will attract most business
  - Implementation efficiency is an important vendor characteristic
  - Track record of success reflects on a vendor' s reliability and trustworthiness
ACTIONS
- PLM must support executive-level decisions
- Have a long-term vision but establish short-term milestones
- Look beyond point solutions for a strategic approach to PLM
APPENDIX
APPENDIX
- Definitions
- Abbreviations
- Methodology
- Further reading
- Ask the analyst
- Datamonitor consulting
- Disclaimer
- List of Figures
  - Figure 1: In the pharmaceutical industry, complexity in the process defines the product
  - Figure 2: Making a value proposition for PLM as a strategy in the pharmaceutical product lifecycle
  - Figure 3: As the Big Pharma begins to face its information management needs, enterprise PLM investments will grow
  - Figure 4: Examples of "must-have" and "nice-to-have" criteria pharmaceutical companies use for selecting a PLM vendor as potential partner