Forecasting and optimization are often associated with big pharmaceutical companies, ambitious R&D pipelines, and complex Phase III clinical trials. However, experience has taught us that planning for success already starts in the early phases of clinical trials.
What about smaller biotech companies with only a few trials? What about those pre-clinical, Phase I or Phase II trials, or trials without an IRT system? Can’t they also benefit from forecasting and optimization?
The answer is a simple “yes”. Regardless of your organization’s size or the clinical trial stage, simulations and optimization allow for the optimal allocation of resources that can be even more limited in the early stages of development (time, money, drug). Using advanced mathematical algorithms can help to replicate the physical clinical supply chain virtually and assess the impact of multiple simulations. As a result, you will improve predictability, better characterize the risk, and identify opportunities to optimize outcomes.
These are essential aspects that every supply chain manager should be able to take into consideration. Especially in a young organization or team, developing robust processes and using the right tools are fundamental to bringing structure, encouraging data-driven decision-making and collaboration, and anticipating needs.
There is no shortcut to success. By starting small, doing it the right way, and being consistent, the supply chain department will thrive and efficiently deliver the ambitious clinical R&D timelines everyone has been working hard to achieve.
The N-SIDE solutions can help even smaller biotechs of pharmaceutical with early phase trials. To understand how our 20+ years of expertise and experience on over 12,000 trials can benefit your team too, ask for a demo right now.