Case Study: a research-based biopharmaceutical company improves inventory management with Quantzig's pharmaceutical demand forecasting

Demand and Supply Planning Helps a Pharmaceutical Industry Client Better Manage Inventory

The client, a research-based biopharmaceutical company, sought to manage its inventory more effectively and enhance customer service levels by improving the accuracy of its pharmaceutical demand forecasts. To address this challenge, the company engaged the analytics firm Quantzig for its pharmaceutical demand forecasting solutions.

Quantzig developed a five-step, data-driven forecasting plan that involved defining the market, analyzing demand components, forecasting demand drivers, conducting sensitivity analysis, and creating a unified forecast. This solution provided the client with accurate demand predictions, which led to a significant reduction in product lead times, an 11% increase in operational efficiency, and a 15% reduction in inventory holding costs.