Pharmaceutical

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Critical business challenges of pharmaceutical industry

Innovation and global regulations

R&D innovation plays a key role in developing safe, economical and efficacious medicine in pharmaceutical industry. As the industry adapts towards digitalization, companies need to create new models like “Virtual R&D” which involves computer simulations on virtual cells, organs and animals.

As the markets are becoming global, regulations have become more rigid. Production process, patents, selling and marketing have come under more scrutiny than before. Industry leaders need to plan activities to stay competitive in the market.

Agile and efficient supply chain

New product types, licensing process, growing importance of emerging markets and new modes of healthcare delivery are causing a distortion in the existing supply chain of pharmaceutical industry. There is a need for companies to integrate the supply chains for designing, manufacturing, distributing pharmaceuticals, medical devices and service management. This will allow the companies to have a holistic picture and plan accordingly.

Sales and marketing

Sales and marketing functions of pharmaceutical industry are undergoing revolution as the role of traditional sales representative is becoming increasingly obsolete. Pharmaceutical companies will have to look for new agile strategies to market and sell healthcare products. On the other hand, industry will be in need of experts in the area of brand management, network alliances, negotiation and to communicate with patients.

Operational performance

Companies need to improve the organizational agility and operational performance. Trade-offs are being made by the companies between the investment in R&D and investment in competitiveness via discounts, rebates and other value exchanges. To improve performance and get optimized results, companies need to integrate people, process and technology.

Pharmaceutical companies are creating innovative therapies and new patient engagement models with the help of new technologies as they enter the data-driven digital era. These “patient centric” business model initiatives are majorly aligned towards three main areas: innovation, quality and operational performance.

Business insights into data and processes require new data sources to be leveraged from social channels, patients, and partners. The challenge for companies today is not only collecting data but to institutionalize the process using the new technologies. Internal and external collaboration of innovation and partnership models are required to achieve this.

Engagement of today’s digital patient is vital. Research today revolves around handling patient data through smart devices, mobile apps and other new sources while adhering to compliance and security policies.

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Our Offerings

Innovation

Innovation Management

The stakes are higher in pharmaceutical than in other industries. The returns on effective innovation are substantial and pharmaceutical companies need to manage the innovation process to extract the most out of their initiatives. Most companies find that measuring innovation progress and tracking ROI are major challenges.

EXILANT offers a comprehensive innovation and idea management solution which enables pharmaceutical companies to gain full control over their innovation management processes. The solution offers the idea to approve cycle and additionally helps pharmaceutical companies to budget, allocate scarce resources and track progress against each initiative. Above all, the solution offers the company an integrated platform to manage the complete portfolio of R&D with effective risk management and controls. The solution is comprehensive and offers the functionalities of strategic planning, investment analysis, capacity planning, resource management, project and portfolio management combined with analytics for reporting and control.

Supply Chain Analytics

Most of the pharmaceutical companies relied on sales, R&D as a strategic enabler for revenue generation in the past. Increasing competition, tightening regulations and globalization are posing challenges to pharmaceutical companies and make them rethink their strategic enablers. Traditionally untouched, supply chain strategies started gaining importance in the digitalization era. The challenge the industry faces is lack of a holistic view of supply chain, distribution and manufacturing. Companies do not have visibility into global supply chain and logistics processes and are unable to manage demand volatility and manage cost fluctuations in the supply chain.

EXILANT offers an interactive supply chain analytics solution for managing the various components of the supply chain and dig deeper in terms of savings and efficiencies. The solution provides analytics to gain insights into supply chain visibility, inventory management, procure-to-pay cycle, supply chain finance and factory management. The solution provides ability to analyze key supply chain metrics across the supply chain spectrum to understand and influence supply chain performance. Users can view all data through a rich dashboarding facility. The use of solution can improve supply chain performance and use the insights gleaned to reduce supply chain costs. In addition, users can create custom reports by using extensive measures, dimensions and facts.

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