Anticipating Biotech Industry Growth: Mastering Sales Forecasting

CinnaGen Co. is a Middle Eastern biotech company that specializes in the development of hi-tech biotech products like monoclonal antibodies, PCR kits, and biosimilar candidates for diseases like oncology and infertility. With over 20% of their total turnover dedicated to R&D activities, CinnaGen is committed to promoting sustainable development in human health through strategic partnerships. As the largest bio-pharmaceutical manufacturer and biotech exporter in the Middle East, CinnaGen has recently expanded its reach by working with the European Union to introduce its biosimilar products in European markets.

To maintain strict standards of quality control and cost management in the highly competitive global pharmaceutical market, CinnaGen needs to use high-quality raw materials, efficient production processes, and accurate cost accounting. As a result, implementing a Business Intelligence system can help the company achieve these goals and optimize its manufacturing processes. The implementation of such a system would involve developing the software infrastructure for calculating the total cost and gathering cost information from the inventory and supply chain module, as well as financial data from the accounting system. Predicting production costs based on a product’s Bill of Materials (BOM) and financial costs is another critical feature of the BI system. Finally, to reduce waste, a dashboard to compare inventory by expiration date against the production schedule and displaying materials that are likely to expire due to lack of demand in the production plan would be created.

By implementing a Business Intelligence system, CinnaGen can improve its cost management, reduce waste, and ensure the quality of its products. This would provide the company with valuable insights into production processes, which can be used to enhance efficiency and optimize resource allocation. As CinnaGen expands into new markets and competes on a global scale, these factors will be critical to its success.

Overall, implementing a Business Intelligence system can significantly benefit CinnaGen’s operations, ensuring cost-effective manufacturing processes, reducing waste, and improving product quality, which are essential for their success in the global pharmaceutical market.