Drug company taps Edge Dynamics solution to proactively monitor and evaluate channel inventory
Redwood City, CA September 28, 2005 Drug company King Pharmaceuticals is set to use an enterprise software solution from channel commerce management (CCM) specialist Edge Dynamics to help proactively monitor and evaluate the company's channel inventory.
King previously experienced highly variable inventory levels in its distribution channel, according to Clint Burrus, executive vice president of managed markets for King Pharmaceuticals. "In addition to the inventory management agreements we implemented with our major customers in early 2004, we are taking a proactive approach to apply best practices to monitor these inventory levels through the use of leading technology solutions," Burrus said.
Edge Dynamics provides channel commerce management solutions to the life sciences industry. The company said its solutions enable manufacturers to optimize their order stream processing for addressing critical business challenges in the areas of channel control, regulatory compliance and patient safety.
"By enabling us to continuously analyze and monitor our transactions in real time, the Edge Dynamics Channel Commerce Management solution should provide us better channel visibility and should enable us to more effectively review compliance with our inventory management agreements," Burrus said. Edge Dynamics said its solutions can help companies boost revenues by 1 percent and profits by 5 percent.
"The pharmaceutical distribution channel is uniquely challenging, with a complex network of primary and secondary distribution avenues that provide many areas for potential breakdown and obscurity," noted John McGrory, president and CEO of Edge Dynamics. "Edge Dynamics plays a critical role in this ecosystem by enabling pharmaceutical manufacturers to maximize corporate profitability while ensuring regulatory compliance and patient safety."
King joins other pharmaceutical manufacturers that have chosen Edge Dynamics. With this announcement, Edge Dynamics said its CCM solution now optimizes more than $60 billion in annual revenue streams for pharmaceutical manufacturers and manages trade agreements representing nearly 30 percent of the U.S. pharmaceutical channel volume.
Additional Articles of Interest
For an in-depth look at how Nortel Networks is increasing the effectiveness of its lead management program, see the SDCExec.com article "Closing the Sales Loop at Nortel Networks."
For an in-depth look at how agribusiness Syngenta is reducing inventory while maintaining customer service levels by building a demand planning process based on a collaborative forecasting solution, see the SDCExec.com article " Forecasting Processes from the Ground Up ."
Increased opportunities for customer interaction create new operational challenges for Sales, Marketing and Service the Demand Chain. Organizations must look beyond technology to the true foundation of creating and managing demand. For more information, read the SCDExec.com exclusive "Trends in the Demand Chain."
Redwood City, CA September 28, 2005 Drug company King Pharmaceuticals is set to use an enterprise software solution from channel commerce management (CCM) specialist Edge Dynamics to help proactively monitor and evaluate the company's channel inventory.
King previously experienced highly variable inventory levels in its distribution channel, according to Clint Burrus, executive vice president of managed markets for King Pharmaceuticals. "In addition to the inventory management agreements we implemented with our major customers in early 2004, we are taking a proactive approach to apply best practices to monitor these inventory levels through the use of leading technology solutions," Burrus said.
Edge Dynamics provides channel commerce management solutions to the life sciences industry. The company said its solutions enable manufacturers to optimize their order stream processing for addressing critical business challenges in the areas of channel control, regulatory compliance and patient safety.
"By enabling us to continuously analyze and monitor our transactions in real time, the Edge Dynamics Channel Commerce Management solution should provide us better channel visibility and should enable us to more effectively review compliance with our inventory management agreements," Burrus said. Edge Dynamics said its solutions can help companies boost revenues by 1 percent and profits by 5 percent.
"The pharmaceutical distribution channel is uniquely challenging, with a complex network of primary and secondary distribution avenues that provide many areas for potential breakdown and obscurity," noted John McGrory, president and CEO of Edge Dynamics. "Edge Dynamics plays a critical role in this ecosystem by enabling pharmaceutical manufacturers to maximize corporate profitability while ensuring regulatory compliance and patient safety."
King joins other pharmaceutical manufacturers that have chosen Edge Dynamics. With this announcement, Edge Dynamics said its CCM solution now optimizes more than $60 billion in annual revenue streams for pharmaceutical manufacturers and manages trade agreements representing nearly 30 percent of the U.S. pharmaceutical channel volume.
Additional Articles of Interest
For an in-depth look at how Nortel Networks is increasing the effectiveness of its lead management program, see the SDCExec.com article "Closing the Sales Loop at Nortel Networks."
For an in-depth look at how agribusiness Syngenta is reducing inventory while maintaining customer service levels by building a demand planning process based on a collaborative forecasting solution, see the SDCExec.com article " Forecasting Processes from the Ground Up ."
Increased opportunities for customer interaction create new operational challenges for Sales, Marketing and Service the Demand Chain. Organizations must look beyond technology to the true foundation of creating and managing demand. For more information, read the SCDExec.com exclusive "Trends in the Demand Chain."
