Pharmaceutical forecasting needs to be more holistic, collaborative and strategic if it is to confer meaningful advantages in a complex and fast-changing global marketplace.
Too often forecasting exercises are ad hoc, reactive, delivered at the lastminute and generated without the in-depth insights into markets or therapy areas that would give them real strategic weight. Learn how to use technology as a platform for process innovation, to help transform financial equations into genuine strategic intelligence.
Moreover, the infrastructure and processes for forecasting within companies can be fragmented and poorly aligned, with multiple sources (Finance, Sales, Marketing, Medical, Market access., Pricing, etc.), erratic demand, discrepancies in forecasting expertise, inconsistent usage of fast-expanding data sources, and lack of standardization in technology, tools or processes.
Integrating these activities across the organization positions forecasting not just as a core strategic asset but a means to compete more effectively. Companies may want to pursue integration internally but this requires substantial commitment of time and resources, and for activities subject to fluctuating demand.
By outsourcing to a strategic partner, organizations can tap into dedicated technology and expertise with the capability and flexibility to manage peaks and troughs in forecasting demand, coupled with the domain expertise that places forecasts in their full context as essential competitive differentiators.
Supported by a range of on-site and off shore capabilities, a strategic partner can establish unique processes for integrating, streamlining and optimizing forecasts at all levels of the business, while ensuring these forecasts are populated with the right information at the right time. End-to-end forecasting solutions can be customized and aligned to the range of needs that arise during a business or brand cycle, drawing on inputs from across the stakeholder spectrum.