Introduction
A leading global biopharma company provides vaccines and medicines that improve the lives of billions of people. The firm aspires to be a leader in innovation, enabling humanity to get ahead of disease.
Challenges
Before engaging with C3 AI, demand planners generated statistical forecasts using only historical data. Then, they leveraged their expertise to manually adjust them. Each market had its own forecasting process, causing inconsistent forecasting process and low accuracy.
Solution
The firm partnered with C3 AI to deploy C3 AI Demand Planning, starting with the top three biggest markets. This included 450+ SKUs covering ~50% of their vaccine revenue. In the first 6 months, C3 AI configured the application to provide accurate forecasts at SKU-market-distribution channel level, leveraging internal data (that are fully virtualized from company’s internal data lake) and external data sources.
Results
With C3 AI Demand Planning, the firm improved its forecast accuracy by 20% compared to the baseline statistical forecasts. The AI forecast accuracy was also 4% higher than the adjusted forecasts performed by dozens of subject matter experts (SME). This accuracy uplift directly translates to $20 million potential inventory reduction annually for the three markets.
Solution Architecture
Proven results in weeks, not years
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