Developing an integrated technology management process

The lack of a systematic approach to managing technology hampers many companies in their drive for improved organizational efficiencies. A company can have a well-established new product development process but still come up against problems if it attempts to develop technology and products simultaneously. One way of addressing such problems is to complement the ongoing activities of the firm with a technology management process, as was done recently at Glaxo Wellcome. One of the key benefits of the approach taken at Glaxo Wellcome was the appointment of a full-time technical director as part of the New Product Supply Organisation and the adoption of a short, medium and long-term portfolio approach to technology projects.