Success Story Supply Chains

Pharmaceutical Wholesaler

Accurate consumption forecasting and order quantity optimization are key success factors in today’s economy – especially in pharmaceutical wholesale. Forecasting item consumption is a challenging task because it is not only a question of how high demand will be in the future, but also when demand will occur. The application of state-of-the-art mathematical forecasting methods makes it possible to ensure the supply of medicines to a wide range of patient groups.

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reduction of inventory levels with better service levels

The Case

  • For manufacturers to be able to offer a high level of service, they must be able to respond quickly to demands for over a million products.

  • In order to be able to plan and schedule correctly with the highest possible probability, forecasts for the future – based on historical data and external information – are prepared daily

  • For this order quantity optimization, quotas must be adhered to and factors such as replenishment times and storage capacities must be taken into account.

  • In order to achieve the desired level of service, the average stock levels in this case were 20% too high, especially for high-priced medicines.

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Highlights

  • Stock levels are monitored and continuously optimized

  • Various forecasting methods can be individually adapted and taken into account for each product

  • All data, analyses and forecasts are maintained in one tool

  • Fixed order quantities, individual order dates and vacation periods of suppliers are taken into account

  • Permanent monitoring of actual and target stock is possible

  • Calculation with the utilization of internal and external information and data

  • Massive cost reduction through better quantity calculation and optimization of warehouse space

Result

Through the tailored solution from mi Solutions, the complete process is represented: The application can monitor all incoming goods and consumption. In this way, efficient and effective forecasts are created, order quantities are optimized across all articles, and bottlenecks are detected at an early stage. Various options such as preventive stockpiling to bridge delivery breaks or the consideration of demand peaks at the beginning of the month are examples of the solution’s individuality.

Your Contact

Louis von Beaulieu

Louis von Beaulieu

Phone: +49 160 90839756

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