Grupo Fleury Improves Demand Planning with FICO Analytics, Saving Millions Annually
Brazil's leading diagnostic medical company wins FICO® Decisions Award for AI, machine learning and optimization using FICO® Advisory and Analytics
SÃO PAULO, June 16, 2020 Highlights:
- Grupo Fleury is using mathematical optimization to save millions annually.
- Grupo Fleury has reduced the time taken to create sales forecasts from one month to half an hour.
- Grupo Fleury has built a platform that integrates business knowledge into dynamic demand planning calculations.
- Grupo Fleury won a 2019 FICO® Decisions Award for AI, Machine Learning and Optimization.
Grupo Fleury, one of Brazil's largest diagnostic medical companies, has further refined its demand planning management tool known as the Fleury Forecaster built on the FICO® Xpress Platform to optimize its operations and reduce the time taken to create sales forecasts from one month to half an hour. The optimization improves resource allocation and planning across multiple time horizons and identifies opportunities to generate value.
For its achievements, Grupo Fleury won a 2019 FICO® Decisions Award for AI, Machine Learning and Optimization.
More information: https://www.fico.com/en/products/fico-xpress-optimization
A robust demand planning process is critical to effective resource and offers allocation at different detail levels to ensure operations are fulfilling the company's business plan.
To achieve this, a joint team of Grupo Fleury and FICO experts further improved on the existing Fleury Forecaster to manage continuous growth in demand and to improve the level of automation, detail, reporting and user-friendliness of the platform.
"With over 3,500 tests being performed across 300 sites, FICO had already helped us design a robust platform which could handle the complex dynamics of demand management," said Eduardo Bianchetti, pricing, intelligence and commercial planning manager at Grupo Fleury. "The biggest challenge this year was to further adapt it to the business peculiarities of diagnostic medicine and to capture the deep industry knowledge of our analysts. Between our teams and FICO, we managed to balance a wealth of detail with performance speed to create a high-performance solution capable of 'Augmented Intelligence', the ability to integrate AI with the business knowledge of our specialists."
Another important aspect of the solution is the ability to analyze the performance of past forecasts to help improve future forecasts. Users can view this in intuitive dashboards that help them understand forecast accuracy and how each stage of the forecasts construction process adds value to the result.
A further enhancement was estimating potential demand – essentially the sales possible, if it weren't for offer restrictions – which was important in finding opportunities for increasing revenue. The solution created an automated, more accurate sales forecast which made the entire demand planning process faster and more reliable. As a result, the company is more confident about the forecast which forms the basis of the revenue budget.
"Grupo Fleury has built a business intelligence engine that significantly enable gains in profitability," said Alexandre Graff, FICO's president for Latin America and the Caribbean. "This solution is a great example of how we can apply artificial intelligence and machine learning techniques on a platform to optimize the company's performance and processes."
"FICO is really proud to be working with Grupo Fleury," said Nikhil Behl, FICO's chief marketing officer. "Helping to optimize the work of Brazil's largest diagnostic medical companies takes on special meaning this year as they work on faster and more accurate tests for COVID-19."
"Grupo Fleury had continued to build on its analytic platform to achieve exceptional results," said Les Yeamans, RT Insights founder and one of the FICO® Decisions Awards judges. "Analytic projects like this can be like writing a great novel, each chapter completed leads you to the next idea. They have definitely capitalized by authoring their own success."
About Grupo Fleury
With more than 90 years of history, Grupo Fleury is one of the largest and most respected medical and health organizations in Brazil, known to the medical community and public for its excellence in customer service, innovation and technical quality. The company has a complete portfolio in diagnostic medicine, conducting around 3,500 tests in 37 different areas. Grupo Fleury has 10 thousand employees and 2,400 physicians and conducts 75 million clinical analysis exams and 5 million diagnostic imaging test each year.
About the FICO® Decisions Awards
The FICO Decisions Awards recognize organizations that are achieving remarkable success using FICO solutions. A panel of independent judges with deep industry expertise evaluates nominations based upon measurable improvement in key metrics; demonstrated use of best practices; project scale, depth and breadth; and innovative uses of technology. The 2019 judges are:
- Sharon Kimathi, editor at FinTech Futures
- Leslie Parrish, analyst – retail banking at Aite
- Denise Sleem, functional specialist at Medscheme/Helios (2018 winner)
- Alex Woodie, managing editor at Datanami
- Les Yeamans, founder at RT Insights
The winners of the FICO Decisions Awards will be spotlighted at various FICO events in 2020 and win tickets to FICO® World 2021, the Decisions Conference, April 2021 in Orlando, Florida.
About FICO
FICO (NYSE: FICO) powers decisions that help people and businesses around the world prosper. Founded in 1956 and based in Silicon Valley, the company is a pioneer in the use of predictive analytics and data science to improve operational decisions. FICO holds more than 195 US and foreign patents on technologies that increase profitability, customer satisfaction and growth for businesses in financial services, manufacturing, telecommunications, health care, retail and many other industries. Using FICO solutions, businesses in more than 100 countries do everything from protecting 2.6 billion payment cards from fraud, to helping people get credit, to ensuring that millions of airplanes and rental cars are in the right place at the right time.
Learn more at www.fico.com.
Join the conversation on Twitter @FICO
FICO is a registered trademark of Fair Isaac Corporation in the US and other countries.
SOURCE FICO
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