Contact Information: Contact: Henry Stimpson Stimpson Communications 508-647-0705 HStimpson@StimpsonCommunications.com David A. Vogel Intertech 781-255-5420 dav@inea.com
Medical Device Companies Can Learn From McDonald's Vendor Approach, Intertech's Vogel Writes
| Source: Intertech
NORWOOD, MA -- (MARKET WIRE) -- February 28, 2007 -- Medical device manufacturers can learn how to
get the best out of their vendors by studying McDonald's, David A. Vogel,
president of Intertech Engineering Associates, writes in the current issue
of Today's Medical Developments.
McDonald's got to the top by working with small, entrepreneurial suppliers,
winning their loyalty and benefiting from their success, Vogel writes.
Founder Ray Croc reached out to smaller suppliers for innovation in
distribution, technology and food products.
"With today's technology explosion, medical device manufacturers need
equally creative solutions. It's impossible for even the biggest company
to develop all the creative solutions in-house," Vogel writes.
Kroc knew that vendor loyalty was a crucial asset and viewed vendors as
partners.
"McDonald's benefited because suppliers worked diligently to improve
product quality and efficiency, often at their own risk. Because they knew
McDonald's would reward their loyalty, suppliers invested in new products
and processes to benefit McDonald's," he writes.
Vogel supplied electronic communication equipment to McDonald's years ago.
He was pleasantly shocked when the McDonald's manager told him he wanted to
make sure there was enough money to make the deal profitable. The manager
also asked what else they could do to make the project successful and
provided some up-front funding, cementing Vogel's loyalty.
But too few companies take that approach today.
"Too often, in the 'David and Goliath' business match-ups, the larger
company in the transaction seems to have an attitude that the smaller
company is lucky to be doing business with it. There is often resentment by
the large company that the smaller company would be financially successful
because of their business relationship. There often seems to be an unspoken
attitude that the smaller company should be ready to take losses to ensure
the success of the larger company. These attitudes do not instill the kinds
of supplier loyalty that can become so valuable in the long term," Vogel
concludes.
The full article can be read at www.onlinetmd.com/article.cfm?id=550.
Intertech Engineering Associates, Inc. (www.inea.com) in Norwood, Mass.
provides hardware and software development, requirements and quality
engineering, product validation services, training and consulting for
medical device manufacturers. Vogel, Ph.D., is a top expert in device
development, software safety and regulatory compliance.