Key Results
Business Opportunity
A Fortune 500 pharmaceutical company needed expertise to divest their consumer product portfolio.The process was complicated by outdated regulatory intelligence and ambiguous country-specific requirements. This situation demanded a strategic approach to align the divesting company and buying company on regulatory interpretations while ensuring compliance across multiple markets.
Approach
Drawing from our extensive experience in managing complex global regulatory projects and familiarity with submission requirements, we developed a practical and scalable approach to facilitate a seamless divestiture process for pharmaceutical and medical device products across 190 countries.
Global Regulatory Requirements Gathering
Comprehensive Project Planning
Cross-Company Collaboration and Alignment
Orchestrated collaboration between companies, led discussions on country-specific requirements, facilitated agreement on submission responsibilities and deadlines, and ensured alignment on all regulatory process aspects.
End-to-End Execution Management
Managed global submission process, collaborating with both companies to monitor progress, resolve issues, and ensure timely completion of submissions and approvals across all countries.
Solution
1. Developed integrated planning processes
Coordinated between supply chain, trade compliance, legal entity integration, quality, and regulatory functions to ensure seamless operations across all aspects of the divestiture.
2. Ensured first-day readiness, etc.
Prepared comprehensive transition plans and checklists to guarantee smooth operations from day one of the new company structure. This included manufacturing site rationalization and legal entity consolidations.
3. Managed regulatory filing portfolio
Conducted pre-deal impact assessments and established a Regulatory Center of Excellence for Divestitures. This centralized approach streamlined the complex process of transferring product registrations across multiple countries.
4. Delivered rapid knowledge transfer
Implemented effective change management and communication channels to quickly disseminate critical information and processes to relevant stakeholders in both companies.
5. Created playbooks for organizational alignment
Developed detailed guides and materials to aid in process improvement and knowledge retention. These resources ensured consistency in operations and facilitated ongoing organizational alignment even after the project’s completion.
6. Cross-functional enablement
Worked across various departments to enable first-day readiness and maintain uninterrupted operations throughout the transition period.
By seamlessly integrating diverse functions on an international scale, we not only ensured a smooth transition but also positioned the client for long-term success in global markets. Our practical, comprehensive approach delivered tangible results, empowering the client to navigate future challenges with confidence and agility.
The Results and Impact
The implementation of this comprehensive PtP transformation strategy resulted in significant improvements in efficiency, cost savings, and management insight.
Substantial Cost Reduction
The transformation achieved approximately $100M in cost savings in one quarter, with an additional $20M saved through outsourcing, parts of the process. This substantial cost reduction significantly improved the company’s bottom line and freed up resources for strategic investments.
Enhanced Management Insight
The new system provided significantly improved data for business and process management. This enhanced insight enabled more informed decision-making and strategic planning, allowing the company to respond more effectively to market changes and opportunities.
Improved Focus on Core Business
The transformation allowed the company to focus employee resources on evaluating sourcing and process improvement opportunities. This shift in focus facilitated further reduction in company expenses and improved profit margins, enhancing overall business performance.
Scalable Operations
The new PtP system established a scalable operation capable of responding to evolving business needs. This scalability ensured that the company could adapt to growth and changes in the market without significant additional investment.
Operational Improvements and Business Impact
- Improved internal focus on core business and internal customers
- Implemented contractually committed service levels and savings, including future savings triggers
- Shifted delivery risk to the outsourced partner
- Enhanced quality user experience, including multi-level 'concierge' support
- Improved business continuity
- Positioned the company to absorb several related, non-process activities without additional cost
- Prepared the client to execute the selection of a full-fledged business outsourcing partner
- Enabled implementation of the future state PtP operation in less than one financial quarter
This strategically aligned PtP transformation addressed the initial challenges of inefficiency, lack of standardization, and missed opportunities in the company’s procurement processes. By leveraging a comprehensive approach that encompassed process improvement, resource consolidation, and strategic outsourcing, we delivered a solution that resonated with the organization’s global strategy. This approach not only streamlined operations but also fostered a culture of continuous improvement, positioning the pharmaceutical company for enhanced efficiency and competitiveness in the global healthcare market.
Rediscover the power of personalized consulting with alliantConsulting. Contact us today to schedule an initial consultation and begin your journey towards improved profitability and long-term value.
