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Customers today expect businesses to cater to their individual needs by tailoring the products they purchase to their own preferences. The term “Industry 5.0” refers to a new wave of manufacturing that aims to meet each customer's unique demands. Even while Industry 4.0 allowed for mass customization, that wasn't good enough before, customers today demand individualized products at scale, and Industry 5.0 is driving the transition from mass customization to mass personalization to meet these demands. It caters to the individual needs of each consumer by meeting their demands. More specialized components for use in medicine are made possible by the widespread customization made possible by Industry 5.0. These individualized parts are included into the medical care of the patient to meet their specific needs and preferences. In the current medical revolution, an enabling technology of Industry 5.0 can produce medical implants, artificial organs, bodily fluids, and transplants with pinpoint accuracy. With the advent of AI-enabled sensors, we now live in a world where data can be swiftly analyzed. Machines may be programmed to make complex choices on the fly. In the medical field, these innovations allow for exact measurement and monitoring of human body variables according to the individual's needs. They aid in monitoring the body's response to training for peak performance. It allows for the digital dissemination of accurate healthcare data networks. In order to collect and exchange relevant patient data, every equipment is online.

This study seeks to examine the extent to which mainstream tools and strategies are applied in the medical devices sector, which is highly fragmented and contains a high percentage of small companies, and to determine if company size impacts on manufacturing strategy selection.

A questionnaire was developed and disseminated through a number of channels. Responses were received from 38 companies in the UK and Ireland, describing 68 products taken to market in the past five years.

Because of the limited scope of the survey, the findings are indicative rather than conclusive, and interesting trends have emerged. New to the world products were much more likely to exceed company expectations of market success compared to derivative products. It was found that the majority of these innovative products were developed by small companies. Large companies appear to favour minor upgrades over major upgrades even though these prove – on the data presented – to be less successful overall.

These results provide those engaged in this sector with comparative information and some insights for further improvement. The reported trends with respect to company size and product complexity (or degree of novelty) are particularly illuminating. Academically, this sets some expected trends on a firmer footing and unearths one or two unexpected findings.

It is believed that this is the largest survey of determinants of success in UK medical device companies and it provides a comparison with other sectors.

The case builds upon the theoretical literature in strategy and decision-making under uncertain, complex and ambiguous situations inherent in nascent industries (Eggers and Moeen, 2019). It also bases its analysis of the central decision in the case, the merger between Aphria Inc. and Tilray, on the pertinent literature on mergers and acquisitions (DePamphilis, 2015). DePamphilis (2015). Mergers, acquisitions, and other restructuring activities: An integrated approach to process, tools, cases, and solutions. 8th ed. Academic press, San Diego, CA. Eggers and Moeen (2019). Entry Strategy for Nascent Industries: Introduction to a Virtual Special Issue. Strategic Management Journal. 42 (2), pp. 1–15.

Assessing/reassessing sources of competitive advantage and recognizing how changes in policy and technologies and globalization can change industry dynamics. Identifying the challenges that companies face when developing strategy in nascent and emerging industries and the related (sub)sectors. Analyzing a merger and deciding if it is warranted, financially and strategically. Applying industry analysis to understand dynamic forces impacting an industry, the attractiveness of an industry and how industry structures affect a company’s strategy.

The global cannabis industry emerged after Canada, selected states in the US and some other countries across the world started to legalize recreational and/or medical cannabis. Similar to any industry in its nascent stages, the industry structure was undefined, product definitions and categories were unclear and competitive landscape was evolving. It was key for decision makers such as Irwin Simon, the CEO of Aphria Inc., to devise a strategy that would enable the firm to navigate the tides of the nascent industry. Simon had a background in consumer packaged goods industry and was a proponent of gaining market power through industry consolidation moves such as mergers and acquisitions. In 2020, encounters with Tilray’s CEO presented Simon with a merger opportunity with potentials for complementarities and cost savings. The challenge for Simon was to convince the Aphria’s shareholders that the potential gains from this move outweighs its challenges.

Strategy courses (undergraduate and graduate level) • During a session on nascent industry analysis, to illustrate how companies decide whether to enter a market, how to grow and position themselves. • During a session on mergers and acquisitions, to illustrate how a company can use such strategies to gain market power and pursue consolidation. International business courses (undergraduate and graduate level) • During a session on navigating the tides of an industry that is in its nascent stage, both at the individual country level and at the global level. Cannabis industry courses (undergraduate level) • During a session on the national and global prospects of the industry from an investment, entrepreneurial or policy-making perspective. • During a session on mergers and industry consolidation strategies.

Connected Health is an emerging and rapidly developing field never before witnessed across the healthcare sector. It has the potential to transform healthcare service systems by increasing its safety, quality and overall efficiency. However, as healthcare technologies or medical devices continuously rely more on software development, one of the core challenges is examining how Connected Health is regulated – often impacting Connected Health innovation. The purpose of this paper is to present an understanding of how Connected Health is regulated. Many of these regulatory developments fall under “medical devices”, giving rise to Software-as-a-Medical Device (SaaMD).

Through an extensive literature review, this paper demystifies Connected Health regulation. It presents the outcome of expert discussions which explore the key regulatory developments in the context of Connected Health to provide a practical guide to understanding how regulation can potentially shape healthcare innovation.

Several key issues are identified, and the authors present a comprehensive overview of regulatory developments relating to Connected Health with a view to support the continued growth of IT-enabled healthcare service models. The authors also identify the key challenges in Connected Health and identify areas for future research.

A key outcome of this research is a clearer understanding of the opportunities and challenges that regulation and standards present to Connected Health. Furthermore, this research is of critical importance in a first attempt towards recognising the impact of regulation and standards compliance in Connected Health.

This paper aims to examine challenges and prospects of the Malaysian Islamic medical tourism sector and suggests strategies to leverage the strengths and opportunities as well as overcome the weaknesses and threats.

A series of semi-structured interviews were conducted with the Islamic hospital managers. Information collected was transcribed and content analysis was used to group the variables into the four SWOT categories.

The SWOT analysis identified several strengths (e.g. great hospitality, country’s characteristics and development of Islamic compliant hospital), weaknesses (e.g. low international certifications), opportunities (e.g. growing Muslim populations, Sept 11 incidence) and threats (e.g. competition from major medical tourism market and non-uniformity of Islamic medical tourism standards).

This paper could provide understanding of the sector and fundamental on the Islamic medical tourism market. Yet the SWOT analysis does not indicate how to achieve competitive advantage and result may become obsolete, with the dynamic environments.

This paper could serve as a guideline for the industry stakeholders to have better understanding in their business environment.

This paper is the first of its kind to integrate SWOT analysis and Islamic medical tourism industry. Hence, the findings could broaden knowledge on Islamic medical tourism industry and facilitate firms in tapping the growing market.

Enormous numbers of people suffer from the effects of disasters and humanitarian crises in Africa, including medical and healthcare emergencies. International response to the 2014–2016 Ebola pandemic in West Africa and COVID 19 pandemic vividly demonstrates the need for efficient and effective logistics and supply chain systems in bringing succor to impacted and vulnerable communities. This paper critically reviews the academic literature on logistics models for sourcing, delivery and distribution of medical and healthcare products for humanitarian emergencies in Africa from 1990 to 2018. The paper suggests areas for further research and proposes an effective logistics model useful for international and national humanitarian organizations as well as public health authorities in Africa and developing areas.

The viewpoint paper draws upon a structured comprehensive and critical review of the academic literature on logistics and supply chain management and a qualitative analysis of the literature in 13 leading academic databases covering over 5,550 articles.

The paper finds significant gaps in the body of logistics and supply chain management research on practical deployable logistics models for sourcing, delivery, and distribution of medical and healthcare products for humanitarian emergencies. The paper suggests a model worthy of consideration by humanitarian and disaster response stakeholders as well as public health authorities in developing countries.

This is a critical literature review paper based on a comprehensive literature research and analysis for the period from 1990 to 2018 from which a viewpoint is formed.

This paper advocates for further research on appropriate models of logistics for the sourcing, delivery and distribution of medical and healthcare products to enhance the basic human rights and dignity of vulnerable people in developing countries.

The paper contributes directly to policy on logistics, humanitarian aid, disaster management, public health and health security policy in the developing world including Africa.

The economic phenomenon of “globalization” has broadly affected the health care industry and the medical profession in the late 20th century. Governmental and private sector managed care reach is expanding globally, as patients are “ecuritized” and traded as covered lives. Arbitrage of health care goods and services is creating commoditization effects, including trans‐border parallel markets (i.e. black markets). Consumers and governments are becoming concerned about privacy issues and product standardization, while Third World challenges remain in the public health realm (i.e., infectious pandemics, sanitation, nutrition and overpopulation).

The purpose of this paper is to describe the approach and technology of various companies making automated assembly equipment for medical devices.

The structure of the medical device assembly market is introduced, and the expertise and applications of a small company working in the intermediate production market is described. The modular approach of Mikron Assembly Technology is examined in detail. Finally, a company making machines for very high‐volume medical device assembly is considered.

The development of new medical device products is dependent on many stages of verification and validation, providing niches for assembly machinery builders of very different sizes. Reliability and precision of assembly is vital for the correct operation of the products throughout their lifetime. Testing and inspection stations form an integral part of many assembly lines, to provide a high degree of process security and traceability.

This paper reveals the nature of the medical device market and shows how three different‐sized assembly machinery manufacturers operate in the sector.

Examines the tenth published year of the ITCRR. Runs the whole gamut of textile innovation, research and testing, some of which investigates hitherto untouched aspects. Subjects discussed include cotton fabric processing, asbestos substitutes, textile adjuncts to cardiovascular surgery, wet textile processes, hand evaluation, nanotechnology, thermoplastic composites, robotic ironing, protective clothing (agricultural and industrial), ecological aspects of fibre properties – to name but a few! There would appear to be no limit to the future potential for textile applications.

Manufacturers find bottom of the pyramid (BOP) markets challenging to serve due to low margins and highly localized needs. As such, residents in BOP markets often go without products commonly available in developed countries. Going without medical equipment may negatively affect healthcare services. This study develops a supply chain design strategy that supports the production of medical equipment by preserving variety flexibility at low volumes that stands to create new market opportunities for manufacturers and improve healthcare for residents in BOP markets.

The authors introduce a mass-customization model called options-based planning (OBP) which offers a framework to both leverage the efficiencies of high volume production models and provide products that are customized to local market needs. An empirical simulation, grounded in data collected from a large international manufacturer of magnetic resonance imaging (MRI) equipment, illustrates how an OBP production strategy will likely perform under BOP conditions and facilitate the delivery of healthcare equipment to BOP markets.

OBP provides a means for manufacturers to provide the customization necessary to serve fragmented BOP markets, while enabling higher production volume to make serving these markets more feasible. The empirical simulation reveals the relative benefits of OBP under conditions of forecast uncertainty, product complexity (number of design parameters) and different levels of responsiveness.

Increased access to modern medical equipment should improve healthcare outcomes for consumers in BOP markets.

The MRI context in BOP markets serves to illustrate the value of the OBP model for manufacturers.