There exists a variety of forecasting solutions each with different levels of sophistication, from robust software systems to rudimentary Excel models.
Even with more sophisticated solutions, Excel remains one of the most common tools for drug supply forecasting. Why? Simple, Excel is comfortable and easy to use. Although Excel starts off simple, it frequently takes on a life of its own and evolves into a monster, otherwise known as a Frankensheet.
Frankensheets have inherent issues such as scalability, complexity in data entry, a large margin of error, and inefficiency. So again, why are they still so commonly used?
The answer is older-generation forecasting or simulation platforms have a reputation for either being overly complicated and lacking flexibility or they are overly simple to use but cannot handle the complexity of today’s studies.
Innovative Supply Solutions has created a powerful and accurate software platform, which is revolutionising clinical supply chain management. This breakthrough maintains ease of use, an intuitive interface, visual reports, and high levels of accuracy to deliver an end-to-end solution, which addresses the needs of clinical supply chain management.
Our platform, consists of a targeted ERP-production module, which is sized just right for R&D efforts. Demanding simulation allows for fast and accurate scenario planning.
Supply actualisation uses real-time integrated data and highly visual reports, tracking actuals versus forecast. Our integrated end-to-end approach greatly simplifies the clinical trial supply process and has been proven to handle trials of all complexity.
Don’t forget to request a free no-obligation demonstration of our software to see how you can take advantage of this platform to optimise your supply chain and finally put to rest the Frankensheet!