Collection development remains a cornerstone responsibility in academic and research libraries. The actions and methodologies involved in this activity are changing considerably due to factors including the preference for digital information, budget constraints, cooperative collection development, online ordering, and in some cases storage problems. In this dynamic environment, many institutions are examining their collection development policies and selection philosophies. Some libraries have begun exploring key issues such as whether the time has come to stop 'collecting for the ages' and instead primarily focus on the immediate information needs. The panel speakers discussed the innovations and changes they confront in collection development at their institutions.