Engineers at several automotive, aerospace, and marine manufacturers are apparently so interested in a new vibration-proof fastener that they demanded it before it was priced. That may seem like the kind of problem every company would love to have, but it can still cause blood pressure to rise. Permanent Technologies Inc. spent 11 years developing the fastener, a one-way nut-and-bolt combination that locks the nut and bolt at a predetermined position. Then the company spent a lot of effort to overcome the challenges that new companies often face, such as lack of recognition and doubts about the product. Part of the strategy was a modified show-and-tell: They sent samples for engineers to play with. Boy did that work—a little too well, in fact. Company President Loren Ball says the orders have been flying in faster than the cost estimates they have been getting from the contract manufacturers who will make the fastener. Not to worry, though: Ball says pricing is now in place. He's ready to ship.
Cost, product development rigor, the patient-as-a-user movement, and consumer electronics that include wireless connectivity are just a few hot topics swirling around medical devices. Each brings challenges that create innovation opportunities. If we briefly look at each one, we can see that one common need will be innovation in simplicity.
The supply chain will change significantly over the next 10 years as industry 4.0 technology enhances supply chain performance, according to the 2015 MHI Annual Industry Report, “Supply Chain Innovation — Making the impossible possible.”
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