business plan for pharmaceutical

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Business plan for pharmaceutical


The old school traditional demand planning mindset is to forecast at aggregated levels when it comes to the tactical horizon 3 months to 24 months. This is flawed thinking. Demand Sensing removes demand latency from the chain. Supply chain can see demand changes much sooner and react in time to preserve service levels. This level of daily granularity - daily frequency signal improves visibility and reduces the market teams' need for inflating demand to cover for risk of inventory shortages.

This gets accuracy back in the forecast quickly even in the absence of past historical data. This is a significant opportunity to free up working capital as well as reduced costs from storage, transportation, and eventual scrapping of inventory as it expires. Let's turn our attention to the supply response side of the equation and the ability to plan end to end across DF, API manufacturing, as well as supporting procurement, inventory storage, and transportation logistics.

Pharmaceutical supply chains are geographically dispersed with Active Pharma Ingredient API coming in from internal factory or a vendor. As companies looking to reduce costs have let go of manufacturing assets and outsourced legacy product demand to third party manufacturers, this strategy has resulted into complex supply chains and higher quality risk. Integrated Business Planning solutions from our partners like River Logic evaluate marginal profit and hence can prioritize low-volume, high margin niche products over high-volume, lower margin mainstream products to ensure optimal demand-capacity matching and allocation in case of capacity shortages.

It does not help that the solve is not modeling financial constraints working capital constraints, quarter-end inventory level constraints, etc. These solutions do not solve for financial optimal performance and do not generate the best possible end to end plan which optimizes financial outcomes given the sequential solve in individual functional modules for Inventory, Supply, etc. Given the abuse of the 'IBP' tag by several well-established traditional established software providers, we at GitaCloud feel it's important to outline key IBP capabilities required before we review how a true IBP capability can help the Pharmaceutical industry.

Finance can see the forecasted revenue, but they can do precious little to bake in financial constraints or optimize for financial performance in one integrated business solve. Modern IBP platforms define a full end to end enterprise or multi-enterprise model across demand, supply, and finance components of the value network that factors non-supply chain drivers like taxation structure as a variable, not an afterthought. This is especially relevant as large markets like India are streamlining their taxation policies through the new Goods and Services Tax GST.

True IBP capability explicitly links supply chain and financial constraints with end to end integrated business plans that solve across demand, inventory, production, logistics, and procurement simultaneously, not in silos given trade-offs and non-linear relationships.

Hope this clears some of the confusion around the full range of capabilities that IBP represents vs. Traditional thinking in Pharma organizations has been to generate demand signal from decentralized marketing teams in individual markets, then consolidate it into total SKU level forecasts for second guessing by central supply planning team in supply chain, followed by Dosage Form Production Planning, followed by Active Pharma Ingredient API Production Planning.

Given the large batch sizes and aggregations in the process, the sequential siloed nature of calculations introduce a high whiplash at API production planning stage month to month resulting in API team insisting on month frozen period to plan their long API production campaigns. Some companies are even taking the approach of building API to annual budget and treating any outside budget demand for API to be a month service additional lead time demand over regular lead times.

This hampers supply chain agility and risks lost sales in the market if demand cannot be serviced in the required time frame. Integrated Business Planning IBP can optimize operations across the entire enterprise from market facing teams providing demand intelligence to DF and API supply teams providing supply response in a way that maximizes profitability.

Integrated Business Planning plays a key role in balancing competing pulls of high service levels in markets and low supply chain cost and inventory waste in the supply chain. Capacity Optimization and Inventory Optimization have to be approached in an integrated manner for the enterprise to improve Return on Capital and Net Margin. Integrated Business Planning IBP does away with the sequential and decentralized approach in favor of a centralized demand sensing engine to generate a granular and accurate signal across the whole portfolio.

This approach requires far less human effort and produces both accurate forecasts and financially optimal supply response. The current traditional planning approaches leave a lot of money on the table by not optimizing for financial performance. The need for better planning is apparent to executives, but the way out of the jungle is foggy given most software providers and management consultants still pedaling traditional processes and solution which require a high degree of human alignment and coordination in essentially glorified spreadsheet type data entry views in the cloud.

These processes lose steam rapidly once the consulting engagement ends and significantly under-deliver on value in the business case. Business planners quickly revert back to off-line spreadsheets within months after the big strategic transformation program wraps up. We firmly believe the IBP solution needs to be a platform that is business owned and grows smoothly with the evolving maturity of the enterprise and its planners as opposed to a tightly defined point-in-time solution delivered by an IBP application that require considerable IT or Consulting effort to make changes.

At GitaCloud, we are for Business friendly Global Planning, where business planners make sound decisions as they have an ability to understand and optimize the impact of their decisions across a business unit, product portfolio, or an emerging market. Executives as well as business planners from all functions should be able to query the same enterprise model from any angle and each time get an optimal, feasible plan in return.

Incorporated in Delaware in , GitaCloud is on a mission to improve integrated business planning and decision making competencies at it clients. GitaCloud offers a full range of services: reselling best of breed cloud software, business transformation engagements, Systems Integration engagements, and supply chain planning managed services. For more information, please visit www. We offer a suite of supply chain planning, network optimization, order allocation, and general planning solutions that are purpose-built for business users rather than data scientists.

Just click the button below, and grab a time slot that works for your schedule. Get in Touch. There are multiple value leakage points in the Long Range Planning LRP process supported by spreadsheets: Spreadsheets offer limited end to end scenario capability to convert demand projections into capacity requirements.

There are also challenges with market specific spreadsheet formats and varying degrees of detail across marketing teams in individual markets. Spreadsheets cannot offer end to end enterprise level financial optimization or provide visibility to understand supply chain optionality across scenarios in terms of ranges of demand risk of USFDA approvals or timing.

It's fast and easy, with LivePlan. Don't bother with copy and paste. Get this complete sample business plan as a free text document. Download for free. The Discount Pharmacy Executive Summary executive summary is a brief introduction to your business plan. It describes your business, the problem that it solves, your target market, and financial highlights. Competition Competition takes many different forms in the pharmacy industry. Why Us? Expectations Forecast Costs will be minimized by maintaining only one pharmacist and filling the void with pharmaceutical techs.

We expect to reach profitability by our third year and will generate substantial sales by year three Financial Highlights by Year. Start your own pharmacy business plan Start your own business plan Start planning. Get the Bplans newsletter: Expert business tips and advice delivered weekly.

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Top 10 Pharmacy Business Ideas \u0026 Opportunities in Pharmacy Sector

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