Infiniti Research, a leading market intelligence solutions provider, has recently announced the completion of their latest engagement on competitive intelligence solution. During this engagement, the experts at Infiniti Research helped a pharmaceutical logistics company to realize a savings of over $3.2 million in their operational cost.
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The global pharmaceutical market has been experiencing positive growth over the past few years due to the rise in generic drug production and progress in drug research and development. The rapid pace of developments in the pharmaceutical industry has contributed to the growth of the pharmaceutical logistics market. However, lack of coordinated and flexible supply chain, temperature control issues, lack of supply chain visibility, and warehouse management hurdles are still increasing challenges for companies in the pharmaceutical logistics market. To sustain in the long-run, companies in the pharmaceutical logistics market will need to tackle the industry challenges coming their way and revamp their traditional supply chain processes.
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The business challenge:
The client faced challenges in efficiently managing their inventory. The lack of having a coordinated and flexible supply chain process further made it difficult for the client to deliver products on time. Also, as pharmaceuticals require greater attention to safety standards, the client faced challenges in adhering to the safety requirements and reducing the likelihood of product damage during transportation.
As a result, the company witnessed a huge dip in their profit margins and even started losing their customers to competitors. They approached the experts at Infiniti Research to leverage their expertise in offering competitive intelligence solution. By leveraging Infiniti’s competitive intelligence solution, the company in the pharmaceutical logistics market wanted to analyze their competitors’ supply chain processes and understand strategies adopted by them to tackle the inventory management challenges.
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The solution offered:
As a part of the competitive intelligence engagement, the experts at Infiniti Research gathered comprehensive insights about the client’s key competitors. The factors such as competitors’ service offerings, risk mitigation approaches, and business strategies were taken into consideration during the analysis.
The experts at Infiniti Research even conducted an inventory forecasting engagement. This phase of Infiniti’s logistics management solutions helped the client to thoroughly analyze the market demand and identify target stock levels to meet the rising demand for pharmaceutical products.
Infiniti’s logistics management solutions also involved demand planning and forecasting. Our demand planning and forecasting solution helped the client to enhance the accuracy of their demand forecast. This further helped the client to optimize their supply chain operations.
Infiniti’s competitive intelligence solution helped the pharmaceutical logistics industry client to:
- Enhance the accuracy in demand forecasting by 15%
- Reduce product shortages and manage overstocks
- Understand strategies undertaken by their key competitors to reduce product damage and manage temperature control challenges
- Realize savings of over $3.2 million in their operational cost
- Wondering how your business can benefit from our competitive intelligence solution? Request more information from our experts.
About Infiniti Research
Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies. To know more, visit: https://www.infinitiresearch.com/about-us
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Contacts
Infiniti Research
Anirban Choudhury
Marketing Manager
US: +1 844 778 0600
UK: +44 203 893 3400
https://www.infinitiresearch.com/contact-us
