Accelerate Chemical R&D Timelines with AI Solutions

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Problem statement

Rising costs: As costs for raw materials and energy continue to increase, chemical companies are under pressure to find ways to reduce costs and improve efficiency.

Inaccurate inventory tracking: Without digital technologies, it can be difficult to accurately track inventory levels and ensure that materials are available when needed. This can lead to stockouts, excess inventory, and wasted resources.

Difficulty in maintaining compliance: Traditional methods of inventory and task management may make it difficult for chemical companies to comply with regulations related to safety and environmental impact, which can be a major challenge for companies.

Inefficient task management: Traditional methods of task management, such as manual paperwork, can be time-consuming and error-prone. This can lead to delays and added costs.

Difficulty in identifying bottlenecks: Without digital tools for data analysis, it can be difficult for chemical companies to identify bottlenecks in production processes, which can lead to inefficiencies and decreased productivity.

Solution overview

Utilizing AI for sales forecasting can provide a competitive edge for companies in any industry.

Predictive solutions assist businesses in planning for future growth and implementing effective risk management strategies to improve sales.

Many successful companies, such as McDonalds, Colgate, Amazon, and Netflix, have implemented predictive analytics to optimize sales and cater to customer demands.

We have collaborated with a pharmaceutical company to develop an AI-based forecasting solution that accounts for seasonal patterns in sales and generates monthly and quarterly predictions for analysis.

Several models such as ARIMA, SARIMA, and Facebook Prophet were tested and the best performing model was chosen for implementation.

Business impact

Improved decision-making: Provides insight into historical sales patterns and trends, which can be used to make informed decisions about product development, resource allocation, and future growth.

Increased efficiency and cost savings: Provides visibility into future performance, which can help a company to identify potential risks or challenges and take proactive measures to address them, leading to increased efficiency and cost savings.

Better understanding of key drivers of sales: Identifies key drivers of sales, such as seasonality, promotions, or external factors like economic conditions, which can help a company to make data-driven decisions and fine-tune the sales and marketing strategy.

Better forecasting in new markets: Ability to forecast sales in new markets, which can be beneficial for pharmaceutical companies that are planning to expand their product offerings.

Better tracking of performance over time : Monitor performance trends over time and pinpoint areas for improvement, enabling data-driven decisions and strategic adjustments to sales and marketing efforts.

What our Clients say

"They are very responsive and able to shift focus quickly as we have needed it for business reasons."

"They [OptiSol Business Solutions] have been very friendly and they kept up with the work. They did the job as we had discussed and as everything was arranged."

“I can't speak enough about how pleased I am with their process; it was seamless and efficient.”

"What impressed me the most was their willingness to go above and beyond what was asked."

"We're constantly impressed with their speed and quality of the development that they achieve on a consistent basis."

The best part about working with OptiSol Business Solutions is their commitment to being readily available to their partners. They’re even willing to work into late hours of the night depending on time differences. The solution they produced has already doubled efficiency levels.