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Market Research, Analytics and Forecasting » Process Excellence and Productivity Management
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42 Best Practices
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However, delays in the launch and execution of critical market research projects can slow down the decision-making process, resulting in missed opportunities and increased costs. Therefore, companies must develop a tactical approach to expedite the market research approval process for quicker and meaningful insights.
Best Practices, LLC undertook a study to evaluate how biopharmaceutical companies involved in specialty therapeutic areas and rare diseases manage the market research approval process. The study provides insights and metrics around the management of roles and responsibilities, cycle times, honoraria requirements, non-conforming requests and vendors.
Watch the Report's Overview:
Pharmaceutical; Biotech; Manufacturing; Consumer Products; Diagnostic; Medical Device; Chemical; Health Care; Technology; Biopharmaceutical; Clinical Research; Laboratories
Abbvie; actavis; Amgen; AstraZeneca; Bayer; Biogen; Boehringer Ingelheim; CSL Behring; Fresenius Kabi; Genentech; Grifols; Jazz Pharmaceuticals; Lilly; NeedleTech Products Inc.; Novartis; Novo Nordisk; Philips Healthcare; Roche; Sanofi; Teva Pharmaceutical Industries Ltd; UCB Pharma
This study engaged 22 executives from 21 leading pharmaceutical, biotech, and life sciences companies. Eleven companies responded on behalf of rare disease markets. 40% of companies participated in deep-dive interviews about the drivers of operational excellence. Three-fourths of respondents are directors or heads of market research.
§ Cycle Time Review Key Metric for Assessing MR Approval Process: Nearly three-quarters of participants use review cycle time as a metric for determining if the market research approval process is functioning at an acceptable level. Study cost and recruiting failure rates are metrics used by 43% of the benchmark class.
· Participating Companies pg. 5
II. Key Findings & Insights pg. 8
III. Best Practices of High-Performing Companies pg. 16
IV. Managing Cycle Times & Fast Response pg. 36
V. Managing Roles & Responsibilities pg. 50
VI. Managing Honoraria Services pg. 57
VII. Managing Non-conforming Requests pg. 69
VIII. Approval Process Excellence pg. 72
IX. Best Practice Case Study: How One Company Evolved Fast & Efficient Approval Systems pg. 80
X. Lessons Learned & Pitfalls to Avoid pg. 93
XI. Field Interviews & Executive Verbatims pg. 98
XII. Path Forward Recommendations pg. 104
XIII. Benchmark Class Demographics pg. 108
XIV. About Best Practices, LLC pg. 112