Published Wednesday, 20 February, 2008 at 09:01 AM
Minister for Tourism, Regional Development and Industry
The Honourable Desley Boyle
Queensland firm set to boost production of complementary healthcare medicines
A host of new Queensland-made complementary healthcare medicines could soon be on the shelves with the release of a unique web-based system for product development.
Thanks to a State Government grant of $45,000 Eagle Farm business New Products Development has just launched its BOM (Bill of Materials) Build – what it believes is the world’s first interface to allow clients to research, design and cost new products online.
Regional Development and Industry Minister Desley Boyle said the interface was revolutionising the product development process.
“In the past, it has been a complicated and often lengthy process to fine-tune a new product to get the best price possible for the best combination of ingredients,” she said.
“In the attempt to find the right mix, a manufacturer may be asked to quote a number of times on a product as developers resubmit various combinations of ingredients.
“This process can take months - even years - to get right.
“Now with BOM Build, developers can confidentially ‘test’ the cost of various combinations.
“In addition, it gives developers access to a comprehensive database of potential ingredients – where they can read, for example, about relevant clinical trials and how an ingredient could react with other ingredients or drugs.”
New Products Development Operation Manager Ian Chant said BOM Build was already attracting strong industry interest.
“Within the first week of launching we had 23 new products developed using BOM Build, ranging from multivitamins to complex herbal formulations and using combinations of from four to 40 ingredients,” he said.
“After the new products are created via the web, New Products Development reviews the formula and ensures that it can be manufactured.
“In some cases small scale trials - even clinical trials - may be required to complete the product development process.
“New Products Development then creates live versions of the formula on its manufacturing system; creates specifications, manufacturing methods and test protocols.
“Once this is complete, the customer can place their order and plan for their launch.
“The whole process from idea to order can now, for most products, take a matter of hours compared with weeks, months and even years before.”
Minister Boyle praised New Products Development for its innovation.
“This is a significant leap forward for the industry, especially for the small to medium players - the real innovators in this sector - who are looking to get their products to market quickly and more cost efficiently,” she said.
“Being web-based, developers can access the information they need at a time and place that suits them which bodes well for New Products Development picking up more work for its facility here in Eagle Farm,” she said.
Terry King, GM Operations of MediHerb, one of New Products Development long-time clients, has trialed BOM Build to develop new herbal supplements.
“This system is perfect for us, we’re able to get a very quick quotation on a new formulation,” he said.
“I can see it really speeding up the product development process for us.”
Mr Chant said the next stage of the project was already underway - where specifications, manufacturing methods and test protocols would be created electronically in less than a minute, speeding up the process even further.
Mr Chant said manufacturing in Australia was actually proving an advantage for New Products Development.
“As we start taking BOM Build overseas we’re finding that Australia has a really positive name in complementary medicine manufacture – there is very strong consumer confidence in our products,” he said.
“BOM Build really allows our clients to make the most of this strong position – they can be guaranteed a quality product in record time.”
Ends
Media contact: 3224 2007 or 3225 1005
Company contact: Mr Ian Chant, Operations Manager, New Products Development, 3623 4500.
20 February 2008
Thanks to a State Government grant of $45,000 Eagle Farm business New Products Development has just launched its BOM (Bill of Materials) Build – what it believes is the world’s first interface to allow clients to research, design and cost new products online.
Regional Development and Industry Minister Desley Boyle said the interface was revolutionising the product development process.
“In the past, it has been a complicated and often lengthy process to fine-tune a new product to get the best price possible for the best combination of ingredients,” she said.
“In the attempt to find the right mix, a manufacturer may be asked to quote a number of times on a product as developers resubmit various combinations of ingredients.
“This process can take months - even years - to get right.
“Now with BOM Build, developers can confidentially ‘test’ the cost of various combinations.
“In addition, it gives developers access to a comprehensive database of potential ingredients – where they can read, for example, about relevant clinical trials and how an ingredient could react with other ingredients or drugs.”
New Products Development Operation Manager Ian Chant said BOM Build was already attracting strong industry interest.
“Within the first week of launching we had 23 new products developed using BOM Build, ranging from multivitamins to complex herbal formulations and using combinations of from four to 40 ingredients,” he said.
“After the new products are created via the web, New Products Development reviews the formula and ensures that it can be manufactured.
“In some cases small scale trials - even clinical trials - may be required to complete the product development process.
“New Products Development then creates live versions of the formula on its manufacturing system; creates specifications, manufacturing methods and test protocols.
“Once this is complete, the customer can place their order and plan for their launch.
“The whole process from idea to order can now, for most products, take a matter of hours compared with weeks, months and even years before.”
Minister Boyle praised New Products Development for its innovation.
“This is a significant leap forward for the industry, especially for the small to medium players - the real innovators in this sector - who are looking to get their products to market quickly and more cost efficiently,” she said.
“Being web-based, developers can access the information they need at a time and place that suits them which bodes well for New Products Development picking up more work for its facility here in Eagle Farm,” she said.
Terry King, GM Operations of MediHerb, one of New Products Development long-time clients, has trialed BOM Build to develop new herbal supplements.
“This system is perfect for us, we’re able to get a very quick quotation on a new formulation,” he said.
“I can see it really speeding up the product development process for us.”
Mr Chant said the next stage of the project was already underway - where specifications, manufacturing methods and test protocols would be created electronically in less than a minute, speeding up the process even further.
Mr Chant said manufacturing in Australia was actually proving an advantage for New Products Development.
“As we start taking BOM Build overseas we’re finding that Australia has a really positive name in complementary medicine manufacture – there is very strong consumer confidence in our products,” he said.
“BOM Build really allows our clients to make the most of this strong position – they can be guaranteed a quality product in record time.”
Ends
Media contact: 3224 2007 or 3225 1005
Company contact: Mr Ian Chant, Operations Manager, New Products Development, 3623 4500.
20 February 2008