The Customer

The client is a global pharmaceutical company with focus on Cardiovascular and Metabolism, Immunology, Oncology, and other therapeutic areas. 

The client brings together cutting-edge science and the most creative minds in the industry to think differently about how diseases can be not just treated but predicted, pre-empted and stopped in their tracks

Challenges

  1. Excess investment of time and resources to maintain and enhance a series of forecast models covering multiple drugs in the same hematology cancer space, but with different mechanisms of action, across multiple geographies
  2. Decentralized operations leading to suboptimal collaboration among forecasters, resulting in process inefficiencies
  3. Complex model maintenance and enhancement resulting in forecasters investing more time on forecasting mechanics and focusing less on strategic priorities

The Solution

  • Deployed NEXT Forecasting to create a single unified portfolio model for the hematologic cancer drugs
  • Replicated client’s forecast models on NEXT Forecasting to match exact prior functionality
  • Enabled customizations, such as application of market events to product shares, product-specific pool for lines, client-specific reporting, and workflow enhancements, to facilitate enterprise-level forecasting

Outcomes

  • The global centralized model forecasting approach drove a positive behavioral change by motivating regional reporters to take a more unified and consolidated approach to their own forecasting efforts, thus simplifying the process.
  • Investment decisions now consider incremental gain/loss at the overall portfolio level in contrast to the individual asset level before the engagement
  • By year 2, client expects significant time and cost savings, while more accurately identifying portfolio-wide strategic insights