This document provides details about a business called Joint Recovery Braces and Straps (JRBS) that produces orthopedic braces. JRBS aims to facilitate faster recovery from joint injuries through an integrated sensor system that monitors patients' motions and uploads data to their doctors. The business overview includes sections on vision, industry analysis, customers and their needs, product/service description, suppliers/partners, differentiation strategy, value chain activities, business processes and systems.
This document provides details about a business called Joint Recovery Braces and Straps (JRBS) that produces orthopedic braces. JRBS aims to facilitate faster recovery from joint injuries through an integrated sensor system that monitors patients' motions and uploads data to their doctors. The business overview includes sections on vision, industry analysis, customers and their needs, product/service description, suppliers/partners, differentiation strategy, value chain activities, business processes and systems.
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This document provides details about a business called Joint Recovery Braces and Straps (JRBS) that produces orthopedic braces. JRBS aims to facilitate faster recovery from joint injuries through an integrated sensor system that monitors patients' motions and uploads data to their doctors. The business overview includes sections on vision, industry analysis, customers and their needs, product/service description, suppliers/partners, differentiation strategy, value chain activities, business processes and systems.
This document provides details about a business called Joint Recovery Braces and Straps (JRBS) that produces orthopedic braces. JRBS aims to facilitate faster recovery from joint injuries through an integrated sensor system that monitors patients' motions and uploads data to their doctors. The business overview includes sections on vision, industry analysis, customers and their needs, product/service description, suppliers/partners, differentiation strategy, value chain activities, business processes and systems.
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INFOSYS.110 BUSINESS SYSTEMS:
DELIVERABLE 2: BUSINESS SECTION 2014
Name Bader Mortaja NetID Bmor098 Group Number: 374 Website Link: http://infosysassignmentgroup374.blogspot.co.nz Tutorial Details Tutor: Day: Time: Kit-Wah Wednesday 1pm Time Spent on Assignment: 30 hours Word Count: 1586
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2 JOINT RECOVERY BRACES AND STRAPS (JRBS) INTRODUCTION Injuries are an unforeseeable and in most case an unavoidable occurrence. Furthermore joints being one of the more overworked parts of the human body, thus more susceptible to injury. These injuries typically result in the patient being required to wear a brace or a strap for a given period of time, depending on the severity of the injury. Unlike regular bandages or straps, the Joint Recovery Braces and Straps (JRBS) not only support the injured joint and ligament but also facilitate the recovery and healing processes unlike any other product on the current market. This is due to the integrated system of sensors that records patients every motion in the joint. This system automatically uploads the data onto the patients profile at the appointed doctors office. This helps doctors and physical therapists keep a closer eye on patients progress.
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3. BUSINESS SECTION 3.1 Vision Our vision is to become the orthopaedic worlds go to product when it comes to the aid in the recovery process of all joint injury patients; by producing a user friendly and unique product that will change the future of orthopaedic recovery forever. 3.2 Industry Analysis: Orthopaedic Bracing Industry Industry: Orthopaedic Bracing Industry. Force: High/Low: Justification: Buyer power: High There are various products that help with joint recovery. This results in a variety of choices for buyers, making buyer power high (Simoens et al., 2008; Simoens et al., 2009). Supplier power: Low Several firms supply joint recovery medical supplies. This gives buyers lots of choices. Thus suppliers cant be price makers, they are price takers (Simoens et al., 2008; Simoens et al., 2009). Threat of new entrants: High This market consists of a relatively low start up cost and a bright growth forecast in the future. Therefore making it one of the more lucrative industries (Rajagopalan, 2010). Threat of substitutes: High Due to the fact that there are numerous firms in
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4 the market and that the barriers of entry are relatively low compared to other industries, substitute products can easily be found (Rajagopalan, 2010). Rivalry among existing competitors: High Big firms in the industry attempt to monopolise the industry for their own economic gain but this is fairly difficult considering there are lots restrictions in the industry, thus high rivalry (Brooks, 2014; Simoens et al., 2008). Overall attractiveness of the industry: After considering the above industry analysis, the market would be considered not very attractive and quite competitive. However, it has high potential for growth and seems to be quite lucrative (Rajagopalan, 2010). 3.3 Customers and Thei r Needs JRBS could potentially be the perfect recovery tool for any person whom has suffered an injury to their joints, from minor to serious. However at first the initial targeted sector for this product will focus on professional athletes that are involved in high contact, high impact sports such as American football, rugby, basketball, skiing and many more. Since the targeted sector is professional athletes, they would like to have the shortest, and best recovery possible (Dr. Ed's Sports Medicine Center, n.d.). This is where JRBS will facilitate those needs by proving to be the most accurate and only brace with an integrated joint supervision system on the retail market. This is through the constant record keeping of the integrated system. 3.4 The Product and Service The JRBS brace will consist of a metallic lateral support system to ensure the knee is stable at all times. As well as a locking mechanism, this is to limit the range of motion when required. However, the integrated system of sensors will be the differentiating factor. This one of a kind system will constantly monitor the knees recovery and pressure level applied
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5 to ensure the knee is not being overworked or stressed beyond its required levels. This will become a quintessential aspect to help the doctors and physical therapists in the recovery and monitoring stages. This will also allow them to monitor the progress and ensures that the patient is recovering according to planned. 3.5 Suppliers and Partners Partners: JBRS will partner with retailers and orthopaedic doctors, as well as a software development company. When partnered with retailers and orthopaedic doctors this will benefit both parties as this will give them access to our unique product and will also facilitate the marketing and sale of the JRBS braces. The software development company will develop a software (app included) that we will sell along with the braces, thus promoting their company and allowing us to outsource the data collection and transfer process. Suppliers: A courier company will be used as a supplier, as they will provide shipping and delivery services for a given sum of money. Another supplier will be the raw goods provider that we will use to buy the material from in order to manufacture our products, which could possibly evolve to a partnership in the future. 3.6 Strategy: Differentiation Focus When JRBS is compared to other orthopaedic braces on the market, it will be of a higher cost due to the extra costs it takes to add and implement the system of sensors that other orthopaedic braces do not have, therefore it is a higher cost product in the cost strategy. Furthermore, when it comes to the targeted market, it is fairly narrow initially. This is because the initial targeted sector is professional athletes, as mentioned earlier. As a result the Porters strategy that is going to be used is differentiation focus. 3.7 Value Chain Activity: Technological Development (or R&D) The most important value chain activity for this business is Technological Development (or R&D). This is because this activity is what will help differentiate JRBS from all other orthopaedic knee braces on the market. Without this value chain activity JRBS would be like
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6 any other product on the market and would not be considered unique. Technological development will also help JRBS become the go to product for all patients, physical therapists, doctors, and athletes in the near future. Helping us achieve our set vision for the company. 3.8 Business Processes 3.8.1. CONSUMER REQUI REMENTS RESEARCH PROCESS The first step of ensuring the products viability is to conduct a thorough research into orthopaedic knee braces and the development of a prototype. This is achieved by finding the most successful product in the current market and working from there to establish what medical personnel and consumers are looking for in their knee braces, and how we can produce the required outcome. CONSUMER REQUIREMENTS RESEARCH PROCESS MODEL
Start Find the most popular product Conduct surverys with orthopedic doctors Receive final consumer requirments Send to develop prototype Survey analysis system
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3.8.2. PROTOTYPE DEVELOPMENT PROCESS Once the consumer research phase has been completed a prototype of the product must be developed. This prototype will ensure that all the consumer requirements from the earlier process are met, and that that prototype is feasible and ready to be mass-produced and sold. PROTOTYPE DEVELOPMENT PROCESS MODEL
Start Review consumer requirements Order required parts for prototype development Build prototype Does this meet the requirements? Yes Develop final specification report End Inventory analysis system Prototype testing system
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8 3.9 Functionalities 3.9.1. CONSUMER REQUI REMENTS RESEARCH PROCESS To ensure the product is going to be as good as the best product on the current market. To produce a final list of all the key consumer needs that the development team can use to make the product. 3.9.2. PROTOTYPE DEVELOPMENT PROCESS To develop a prototype with all the specifications that matches up with all the key consumer requirements. To ensure that prototype is feasible and is capable of being mass-produced. 3.10 Systems
3.10. 1. SURVERY ANALYSI S SYSTEM This system takes in all the surveys conducted as input from the orthopaedic surveys and analysis the data producing a report that indicates the main consumer requirements. This report will also highlight what isnt really required, thus allowing the company to produce a list of the key consumer requirements that must match up with the final products specification. 3.10. 2 INVENTORY ANALYSIS SYSTEM. This system checks the current inventory and produces an output report that indicates the parts that are needed to produce the product and how many are required. Thus allowing the company to produce an order meeting all the requirements and ensures there is no lack of material so causing no delays. 3.10. 3. PROTOTYPE TESTI NG SYSTEM - This system is key during the research and development stage to ensure that each new version of the product is fully functional and meets all the requirements of the consumers. This system also ensures that the product to be mass-produced is what is going to be the best on the market making it unmatched by competitors.
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9 3.11. Summary Table: Value Chain to Systems
Value Chain Activity Processes Functionalities Specific Information System(s) Broad Information System(s)
Technological Development (or R&D) 1. Consumer requirements research process 1. To ensure the product is going to be as good as the best product on the current market
2. To produce a list of all the key consumer needs that the development team can use to make the product Survey analysis system
Customer relationship management 2. Prototype development process 1. To develop a prototype with all the specifications that match up with all the key consumer needs
2. To ensure the prototype is feasible and capable of being mass produced Inventory analysis system
Prototype testing system Decision support system
Decision support system
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10 CONCLUSION The JRBS brace is the next generation in the orthopaedic recovery process. It will become the fasted and most reliable means of medical equipment when it comes to the recovery and monitoring of orthopaedic patients. The JRBS brace will ensure that you do not over exert your recovering joint to ensure it is still within the recommended limits. It will also provide patients with the quickest recovery possible. This is made possible by the incorporation of a one of a kind integrated system of sensors, which will make it a unique product on the market. As a result JRBS is breaking new ground in the orthopaedic bracing industry. REFERENCES 1. Brooks, K. (2014). Osteoarthritic Knee Braces on the Market: A Literature Review. JPO: Journal Of Prosthetics And Orthotics, 26(1), 2--30.
2. Dr. Ed's Sports Medicine Center,. (n.d.). Knee Injuries. Retrieved 25 May 2014, from http://www.sportsmed.info/sportsmed/knee.html
3. Rajagopalan, S. (2010). Orthopaedics Sector Braces for Growth. European Medical Device Technology, 1(7), 42--43.
4. Simoens, S., De Coster, S., Moldenaers, I., Guillaume, P., Depoorter, A., & Van den Steen, D. et al. (2008). Reforming the Belgian market for orthotic braces: What can we learn from the international experience?. Health Policy, 86(2), 195--203.
5. Simoens, S., Guillaume, P., Moldenaers, I., Depoorter, A., De Coster, S., & Van den Steen, D. et al. (2009). International comparison of orthotic brace prices. The European Journal Of Health Economics, 10(2), 149--155.