How are leading CPG companies accelerating their innovation efforts?
Read this white paper by IDC Analysts to discover industry insights and recommendations for building a collaborative platform for successful innovation.
Scientists throughout the development process focus on finely tuning the various concentrations of ingredients to optimize their effect – the foaminess of a shampoo, the viscosity of a polymer, or the release time of a drug. The success or failure of a product often relies on this key step of formulations development.
The complexity of the formulations development workflow includes the data streams flowing between the multitudes of teams supporting the product commercialization process. Its efficiency strongly affects the ability of the organization as a whole to respond to shifting external pressures.
Overcoming Disconnected Data
Formulations development often suffers from serious operational inefficiencies, which can be magnified by the globalization of markets and R&D networks. As a result the overall product release can be significantly delayed, preventing it from capitalizing on potential markets.
Up to 90% of all product tests are avoidable
Up to 85% of data is used once and once only
1 Billion new middle class consumers projected by 2020
Up to 35% of a company´s turnover is spent on cost of poor quality
When most data is stored in paper lab notebooks or scattered in disconnected repositories, knowledge created by R&D usually only persists for about 6 months. Many projects are forced to rely on empiricism and the experience of their senior team. As a result, scientists cannot easily learn from previous projects and experiments, to the point where it is easier to repeat an experiment rather than look for its data. This hinders the collaboration and innovation of Formulations teams. BIOVIA’s solutions for Formulations development provide a way to overcome these barriers to keep up with the accelerating cycle of innovation in today’s markets.
The Push toward a Unified Data Environment
Implementing a unified data environment across an organization allows teams to better communicate and collaborate across departmental and geographic barriers. The modern Formulations laboratory will maximize the utility of all its varied data resources, providing organizations with the innovation and agility it needs to compete and thrive.
BIOVIA’s Unified Laboratory Management solutions provide the application framework and digital infrastructure to enable organizations of any size or scope to better manage and leverage their data streams. It enables Formulation teams to transform the way they work, allowing new and more effective formulations to be designed faster and at a fraction of the cost.
Benefits of the BIOVIA Solution
Up to 30% reduction in unnecessary work with traceability
¼ experiments needed to identify superior formulations enabled by in silico modeling
20% product improvements from broader exploration of solutions
50% reduction in scientist time aggregating data from multiple sources and locations