Forecastpharma
Pharmaceutical Sales Forecasting Seminars
The Pharmaceutical Industry is unique in several ways. Pharmaceutical companies face many different forecasting challenges when compared to
other manufacturing company forecasting challenges. These challenges include:
The life enhancing, medical nature and long lifecycle of pharmaceutical products from their product discovery to withdrawal The scientific and complex research setting of pharmaceuticals The long product development process taken place in pharmaceuticals which in turn create long term horizon pharmaceutical forecasting best practices.
The highly regulated sales and technical operations environments in pharmaceuticals The medical practitioner rather than the end customer as the primary focus of sales activities The valuation of a company being primarily based on its pipeline products rather than those currently being sold. As a result, the methodological framework and forecasting analytics used to support pharmaceutical pipeline product sale projections and strategic and long term planning decisions require specialized methods. These methods rest on data and models that cannot be found in ERP systems or specialized financial and strategic planning software. Even if systems such as SAP and Oracle Hyperion bring an enterprise dimension, they lack the required epidemiological data and disease modeling for strategic and pipeline pharmaceutical product forecasting. By default, customized, product/indication specific models using simple tools such as Excel, Access database etc. are what vendors of
knowledge-based epidemiological forecasting and planning applications offer for the most accurate figures in pharmaceutical forecasting. Over the last decade, several pharmaceutical companies have invested time and money to re-engineer the pipeline and strategic forecasting process and improve communications, using Excel solutions. However the lack of enterprise tools has limited the effectiveness of these efforts. A quantum change is required to improve the planning accuracy, efficiency, and effectiveness sought today by all pharmaceutical corporations in relation to their pharmaceutical forecasting needs. Our product portfolio contains not a only patient-based forecasting system available that is built upon the notion of enterprise but proven tools to best execute your pharmaceutical forecasting practices. The pharmaceutical forecasting tools and application system is a centralized and holistic system. It is founded on the principle of market segmentation and incorporates a flexible modeling structure applicable
to all types of indication i.e. prevalence for primary care, incidence and survival curves for specialty care. All forecasting capabilities are provided through web-based Java client interfaces. It offers economies of scale and leverages all pertinent business insight data and information, forecasts and assumptions that are all warehoused in an Oracle "knowledge" database.
Strategic and pipeline product pharmaceutical forecasting is data intensive. It involves long term time horizons, numerous bi-directional
changes, numerous people and functions. Market segmentation methodology aligns forecasting with the marketing strategies and therefore, provides a higher level of confidence and accuracy in the patient forecasts that in return deliver higher levels of confidence for overall pharmaceutical forecasting practices.