Transforming Vaccine Supply Chain with Accurate Demand Forecasting
Value-Driven Benefits
20%
increase in forecast accuracy versus baseline statistical forecast
4%
increase in forecast accuracy versus internal adjusted forecasts performed by SMEs
$20M
annual inventory reduction potential
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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.
About the Company
- $45 billion annual revenue in 2023
- 80,000+ employees globally
- 2 billion packs of medicines and vaccine doses delivered in 5 years
Project Highlights
- 26 weeks from kick-off to production-ready application
- 10+ internal and external data sources ingested
- Best-fit AI models configured and tested for 13+ segments across 450+ SKU-market-distribution channels
- Accurate forecasting for up to 12-month time horizon
- Configured the C3 AI Demand Planning application user interface
Solution Architecture
Proven results in weeks, not years
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