Due to the fast pace of new technological developments, emerging market opportunities, and competition from start-ups, medical device executives find themselves in an environment where they must continually innovate with flawless execution to survive.

Judging by industry statistics, it's clear that intensified regulatory scrutiny has become a harsh reality for medical device manufacturers. Over the past several years many medical device companies have been hit with injunctions, undergone product recalls, or found themselves operating under Food and Drug Administration (FDA) consent decree.

If fear of failure is delaying your adoption of product lifecycle management, take heart; this fundamental advice might be just what you need to get off the fence.

For small and mid-size companies, PDM could be the right-sized solution that can later grow into PLM.

Manufacturers find that using PLM to manage sustainable design can lead to increased innovation, product quality, and profitability.