Pharmaceutical firms, like other businesses, need to ensure that their orders are delivered efficiently while remaining mindful of their bottom line.
Drugs that aren’t efficiently delivered negatively affect a company’s reputation, customer satisfaction and, potentially, profit. Inefficient deliveries can also delay patients’ healing and have a negative effect on public health.
In addition to shipping established drugs, pharmaceutical firms produce and deliver samples of new drugs to hospitals and medical providers, in hopes that they will adopt and prescribe them. This practice has been proven to be very effective. It’s estimated that the industry invests more than $5 billion per year in shipping drug samples to medical providers.
To reduce the overall cost of delivery, many drug companies work to fine-tune their delivery and supply chain processes using spreadsheets or classical statistical methods like ARIMA models to assess timeliness vis-à-vis cost savings. But these methods don’t capture nuances in the data that can render the forecasts inaccurate.
DataRobot AI Platform is a cutting-edge platform that represents nearly a decade of pioneering AI innovation. It leverages artificial intelligence, advanced machine learning, and deep learning algorithms to help firms make informed decisions with business impact. Its team of dedicated customer-facing data scientists supports projects across a broad set of customers, including some of the most trusted global businesses, including a third of the Fortune 50.
One way pharmaceutical firms can reduce costs is by combining drug orders that are being shipped to the same location or department. This strategy involves retaining an order at the warehouse for a few days until one or more other orders are ready to be shipped. But not all drug shipments can—or should—be delayed.
DataRobot’s automated machine learning models are ideal for helping drug companies predict which orders are candidates for consolidation. By analyzing diverse data related to past drug shipments—such as time, drug characteristics, geographical information, and medical provider characteristics—DataRobot can quickly and efficiently generate models that predict which drugs can be shipped together.
Results are ranked according to the most influential factors so they can be easily explained and shared with stakeholders.
AI is a generation-defining technology with the potential to reshape every industry and every customer interaction. Its role is rapidly evolving from experimental to mission critical.
DataRobot AI Platform is the culmination of nearly a decade of pioneering AI innovation, and the product of 1.5 million engineering hours. The DataRobot team of dedicated customer-facing data scientists supports projects across a broad set of customers worldwide.
DataRobot is one of the most widely deployed and proven AI platforms in the market today. It gives organizations the ability to analyze any type of historical data—from any source—then extracts deep insights to get a global view of the data that’s driving their business. Pharmaceutical firms that are looking to optimize drug delivery—shipping drugs in a timely way while managing costs—can use its machine learning models to gain clear and powerful business insights they can trust.
Experience the DataRobot AI Platform
Less Friction, More AI. Get Started Today With a Free 30-Day Trial.
Sign Up for Free