PHARMA INDUSTRY
The pharmaceutical industry entails discovery, development, manufacturing, and marketing of medications. Each field is very complex, and needs to follow strict regulations and norms.
PHARMA INDUSTRY
The pharmaceutical industry entails discovery, development, manufacturing, and marketing of medications. Each field is very complex, and needs to follow strict regulations and norms.
The Pharmaceutical Industry
In an industry worth almost 1.5 trillion USD, everything is large scale: a change in regulation can impact research, production, and supply chain of a company. The pharma industry is not only highly competitive, but it is constantly changing, and the ability to quickly react and adjust to these changes is the key to success.
These are some of the challenges pharmaceutical companies face:
- Conducting what-if scenarios for the FP&A often implies months of collecting multiple excel sheets before being able to start analysing information, leaving little time for planning, budgeting and forecasting processes.
- Controlling annual financial reports as well as long life research projects, which quite often take up to 10 years, reduces the time financial analysists can devote to new investment decisions.
- Ability to adhere to global regulations and consolidate global financial information becomes a tedious, elongated process.
- Making sure the supply chain is efficient and inventory is tracked is crucial. Non- compliances, such as storing drugs past the expiration date, are very expensive mistakes.
To have the possibility to quickly react on changes and adapt new best practices becomes decisive. This necessity has led to the rise of cloud-based solutions for FP&A, Supply Chain, and Headcounts models across pharma companies.
Cloud-based solutions such as Anaplan, OneStream, or Vena, increase accuracy, data validation, and collaboration across business units which make possible the creation of more comprehensive plans to facilitate analysis. Moreover, the flexibility these planning tools offer is unique and favours parallel overview of data, as it allows to create solutions addressing specific business areas while maintaining a joint data source.
With experts across different fields such as planning, budgeting and forecasting models, consolidation models, supply chain models, and HR models, we can assist you in this endeavour to transform your company for the best.
Experience
Below a selection of some interesting projects we did that helped our clients to bring their processes to the next level
Sales & Revenue/Headcount/Corporate Model
Sonum International takes care of all aspects – design, build and implementation to support a worldwide organization with multiple users through a driver-based planning solution in Hyperion Planning.
Planning & Budgeting at Teva
Advice regarding the European release of the Latest Estimate model, improvement and simplification of the developed models at Teva within Hyperion Planning.
Rebates Calculation Model at Edwards
The first Anaplan implementation comprised of a sales planning and forecasting model which brought accurate, dynamic forecasts that improved decision-making throughout the organization. Then, the rebates calculation model provided the necessary integration between the different regulations across European countries.
Questions regarding the Pharma Industry?
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