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Biotechnology

Case Study - BioTech

Improving business process

Project Highlights:

  1. Office Kaizen
  2. Employee Engagement
  3. Operational Performance

Clients Perspective:

"We lose a million dollars for every day we waste in bringing a new drug to the market."

Situation:

Contracts are a big part of any sophisticated enterprise. In the pharmaceutical industry, hundreds of contracts must be executed in order to deliver a new product to market. Contracts are required with numerous stakeholders including suppliers, doctors, hospitals, distributors, marketers, CMOs. Each one must be negotiated, agreed to, signed off, communicated, filed, etc. This client wanted to streamline the contract process while improving process quality by engaging the organization to close gaps, eliminate redundancy and make better decisions.

Approach:

  • Executive Steering Committee formed and facilitated
  • Chartered work streams were developed for critical path areas: Contracts, Sales Planning and Analysis, and Customer Interface
  • Alignment workshops conducted
  • Over 100 processes were dissected, rationalized and configured to eliminate waste and speed cycle time
  • Lean Daily Management System® (LDMS®) implemented in workgroups along the value stream with a focus on metrics and real time decision-making based on agreed-to criteria
  • Ongoing coaching

Results:

The client realized over $1.2 million in cost reductions and over $800,000 in revenue increases in less than six months. Kaufman Global transferred value-added capabilities to the entire organization to ensure the newly implemented processes could continuously improve, resulting in even greater savings. Improvements that contributed to overall savings include:

  • Reduced in-house time to draft contracts from 46 days to 16 days (65%)
  • Outsourced certain paperwork functions and shortened in-house work by 13 days (68%)
  • Reduced time to attain signatures on certain critical path documents from 25 days to 13 days (52%)

Want to find out more about Kaufman Global's approach and the critical success factors in a project like as this? Contact us.