In order to beat this competitive world, pharmaceutical companies are greatly increasing their efforts in Research and development to provide highly qualitative and innovative products to the market. Thus, the importance of R&D in a pharmaceutical industry carries the highest priority in a company’s strategy.
Bio-Rad enjoys market leadership, however if it fails to launch new and advanced products, the profits of the company will soon dried out. Under this study, researchers have tried to incorporate research methodology, process and findings of another research conducted on GSK by Carleysmith, Dufton, & Altria (2009) on Bio-Rad to determine how Lean sigma approach can be applied on pharmaceutical industry to improve its R&D processes.
The study will be focused on improving process of research and development at Bio-Rad by employing Lean Sigma approach (Carleysmith, Dufton, & Altria, 2009).