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 and easy to run; frequently it 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 to name a few. So again, why are they still so commonly used? The answer - 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, accurate software platform that is revolutionizing clinical supply chain management. This breakthrough in supply chain management maintains ease of use, intuitive, visual reports, and high levels of accuracy to deliver an end to end solution that finally addresses the needs of clinical supply chain management. Our platform, consists of a targeted ERP/production module – sized just right for R&D efforts. Demand simulation allowing for fast and accurate scenarios planning. Supply actualization using real time integrated data and highly visual reports tracking actuals vs. forecast. Our integrated end to end approach greatly simplifies the clinical trial supply process and has been proven to handle trials of all complexity.
Learn more about our unique supply chain platform by visiting www.innovativesupplysolutions.com and don’t forget to request a free no obligation demonstration to see how you can take advantage of this platform to optimize your supply chain and finally put to rest the Frankensheet!