Within pharmaceutical forecasting, long-range planning can be challenging due to the complexities involved. Inaccuracies soon begin to creep in. Investment in tools and systems to streamline processes can bring forecasting efficiencies.
Use real time dashboards with real time discussions
The traditional approach to forecasting is inefficient: working on models, consolidating, putting PowerPoint slides together, presenting, taking feedback, and then repeating the process. Instead, show the forecast results in a customised dashboard, analyse, and explore live and transform the forecasting experience into a live engaging debate with less meetings and forecast iterations.
Automate standardised elements of the process
Produce standard or advanced reports in PowerBI with one click of a button, saving weeks/months of time throughout the year. Automate the approval process; submit the forecast with a click of a button, the status changes and notifies the reviewer immediately who will review, return, or approve also with a click of a button. The status of the forecasts from multiple countries can be tracked and viewed all in one space so the manager can easily see the status of the forecasts at any point in time.
Utilise cloud-based software solutions to connect to a wide range of data sources
Move your forecasting solution into the cloud using software tools like Microsoft SharePoint and PowerBI. PowerBI alone can connect to over 120 different types of data sources. SharePoint can become a central reference point for global and local teams. Any type of data can be shared, uploaded, and linked and blended into PowerBI seamlessly. The opportunity to bring in a wide variety of data from customised forecasts, epi, volume and sales data and ‘push’ into forecast models makes the process easy to understand and transparent. This is a more accurate, yet quicker way of bringing in large amounts of data and blending.
Embrace familiarity
There are many custom software tools available with varying success in implementation. New tools require belief and investment. Already under pressure, forcing a team to embrace a new system can be resource intensive and the user easily becomes disengaged. The user tends to continue to forecast in Excel and then ‘dump’ in the custom software. Utilise your existing software, the forecasting software of choice Excel and for additional analytical capability and visualisation add programmes that fit seamlessly with Excel.
