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New channel data access could overcome the problem of ‘blinded’ pharmaceutical sales data
After pharma wholesalers began making inventory and sales data available to manufacturers in the mid-2000s, new capabilities to track sales, shipments and inventory data deeper in the supply chain became possible. But soon a new problem cropped up: “blinded” data that kept retail company names and locations invisible to the manufacturer. Now, one of the leaders in analytics based on wholesaler data, ValueCentric (Orchard Park, NY) and one of the top chain pharmacies, Walgreens (Deerfield, IL) have formed an agreement to provide store-level data to manufacturers.
The capability depends on use of ValueCentric’s ValueTrak software, a hosted analytics tool that collects wholesaler EDI data, cleanses it, and then compiles channel, sales and inventory metrics to subscribers. On Walgreens part, according to Ryan Walsh, director of pharmaceutical manufacturer strategy, the data are collected in the company’s enterprise system on a daily or weekly basis (from stores as well as the company’s own distribution centers).
“I am extremely pleased that Walgreens has selected ValueCentric and our ValueTrak platform to bring innovative marketing and data programs to its manufacturer community,” commented Dave Janca, CEO and founder of ValueCentric. “Walgreens has a clear understanding of the value of working closer with manufacturers and providing them with unprecedented views into their distribution network in near real-time. Together, we are meeting the growing need for better and timelier information that manufacturers can easily access through ValueTrak to drive improved decision making and business results.”
According to ValueCentric, the data are available to its clients with the appropriate licensing terms. For Walgreens, the service could mean closer collaboration with manufacturers, and possibly preferential business agreements. For manufacturers, it means the potential for more effective product launches, more accurate forecasts or marketing-program metrics, and more transparency in the supply chain.