ValueCentric introduces market insight service powered by Walgreens data
ORCHARD PARK, N.Y. — ValueCentric on Wednesday announced it has reached an agreement with Walgreens that will allow ValueCentric to deliver channel- and store-level data services that provide pharmaceutical market insights based on retail data.
“I am extremely pleased that Walgreens has selected ValueCentric and our ValueTrak platform to bring innovative marketing and data programs to its manufacturer community,” stated Dave Janca, CEO ValueCentric. “Walgreens has a clear understanding of the value of working closer with manufacturers and providing them with unprecedented views into their distribution network in near real-time. Together, we are meeting the growing need for better and timelier information that manufacturers can easily access through ValueTrak to drive improved decision-making and business results.”
The new data services already have been delivered to several manufacturers, enabling them to more effectively execute product launches, analyze the performance of their product portfolios, and improve the accuracy of forecasts and financial projections, ValueCentric stated. The initial program offering provides for the reporting of data, such as daily inventory at Walgreens distribution centers, sales through both Walgreens and wholesaler distribution centers into all Walgreens stores, pharmacy decile reports and daily store-level inventory.
"The importance of maximizing brand potential across the product life cycle and providing better customer service at all levels of the supply chain has never been greater," the company stated. "Actual data, which is trusted by all parties and delivered in near real-time, now makes it possible for manufacturers to immediately understand and respond to market events and to gauge the effectiveness of various marketing programs they may be running."