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Life Science – A road to profitable growth

20 April, 2018

Life Science in Sweden is currently growing rapidly. It is exciting to follow small and mid-sized companies in biotech as well as medtech and pharma and observe how they are managing their growth. Many of the companies in these industries expand very rapidly, but this expansion is oftentimes associated with growing pains.

During the last few years, we at Anchor, have had the benefit of working with several Life Science companies, and helping them manage to grow in their desired pace. The situations for the different companies have been different in many ways, but it is interesting to note that there have been quite a few least common denominators for these companies, despite the fact that they have been active in very different areas of business.

In rapidly growing companies, there is no shortage of finding things to do. Many projects can be justified to make the business more efficient, to increase revenue, or both. But since the resources in terms of available personnel and money are limited, the organizations cannot do everything they want. The question becomes what should be done and in what order to optimize the use of available resources.

In addition, in a rapidly growing corporation there is oftentimes a need to manage a constantly increasing amount of information. Locally self-developed systems, which previously easily could manage the initial volumes of information, soon encounter problems as volumes increase. The main question becomes how long the old system can be used before it breaks down.

At several occasions, Anchor has performed analyses of Life Science business during short intense periods of time. These Quick Scans have answered these questions. The result is a clear, coherent and common view of how the company should use its limited resources to optimize the return on invested time and money. As an example, we have postponed time and energy consuming discussions around a CRM-system to the benefit of a common focus on optimizing production and order fulfillment in the entire corporation.

A common conclusion in a Quick Scan in these types of corporations, is that the business does not think they are getting sufficient system support to perform their job efficiently. Oftentimes, this is a result of the fact that the business (i.e. research, product development or production) and IT work separately, rather than together. This creates frustration and tension between the different parts of the organization. Anchor, with support from our method Anchor Insight, assists corporations to tie the core of the business together with required system support to create a common platform for profitable growth.

By structuring and creating a model for the information that is created, refined and managed in the business, a common language is created, which in turn is a prerequisite for getting appropriate system support. In addition, this is required if the knowledge that is generated in the corporation shall be reused in an efficient manner.

Today, there are no doubts whatsoever that the access to information is the key to an efficient business and profitable growth. By structuring information around, for instance hypotheses, assays, and associated assay results, and how these tie together, we have been able to help customers with creating a platform to make use of knowledge generated in research and development projects in an efficient manner. This, in turn, gives opportunities to use available research and development resources even more efficiently.

Are you expanding rapidly? Are you not certain whether your current way of working is sustainable, if you continue to grow at the current pace? Do you have thousands of hypotheses, product, compounds, assay results or other information elements, but are experiencing difficulties in reusing knowledge from previous experiences in your development of new ideas and products?

Anchor can help you analyze and find answers to these questions, give and indication of the most efficient path forward, and eventually create a solid platform for your continued profitable growth. Our previous experiences from other Life Science customers is a great asset. Contact us, and we will tell you more.