Warning: getimagesize(https://magazine.pharmamkt.net/wp-content/uploads/2020/09/logo-group.jpg): failed to open stream: HTTP request failed! HTTP/1.1 404 Not Found in /home/luciamun/public_html/magazine/wp-content/plugins/td-cloud-library/shortcodes/header/tdb_header_logo.php on line 792

The largest community of pharma leaders

Execution at the POS: Where the real magic happens

You’ve gone through it at least a hundred of times in multiple business books, magazines and podcasts. The formula for success is relatively straightforward: 1) You come up with solid well-thought strategic plan, 2) put together a great team in charge of it and 3) support them in driving flawless tactical execution. Easy enough right?

Most Fortune 500 corporations have in place a solid commercial planning process that somehow incorporates these three elements plus some of the newest buzz words we all have in the playbook: Disruptive innovation, Shopper insights, Customer-driven solutions, customized Value Proposition, etc. Most corporations also have a robust talent acquisition, development, retention and succession strategy that guarantee you a good team, so let’s focus for a second on the tactical execution.

I may be preaching the chorus as we all know that operational execution is the one element that takes a lot more of time and effort, but way too often I hear commercial leaders at all levels undermine the importance of execution planning; after all we’re too busy to spend time in ‘operational tactical details’, right? No matter your level in the organization, think again. We’re all responsible for the ultimate success of the strategies and if we neglect the ‘operational detail’, we are guilty of not being thorough enough and run the risk of having a great strategy failing due to poor implementation planning.

Every one of us that had been fortunate enough to be in a commercial customer facing role have war stories to share: Advertising is already running, but optimal distribution levels are not there yet; Top customers are tight on cash flow so won’t list the new product this cycle; the new initiative was not communicated to the point of sale…I know, I know ’operational details’, but they can make or break your strategy so it may be worth your precious time

Once the strategic plan is approved and key initiatives funded at the board room; you and your team should immediately go back to prepare a solid implementation plan, starting a process that goes beyond the internal walls and academic considerations where the street, customer and shopper reality hits. Planning for execution requires careful internal effort orchestration, clarity on roles & responsibilities, implementation timing and flow of activities, clear instructions to the customer facing team, agreements with key customers, impecable supply chain operation, training to the sales force, so on and so forth. The tactical execution is where the real magic happens. If you’re able to master its game and achieve long term consistency in front of the customer/shopper, you may be in your way to steal a few share points from your competition and get closer to the proverbial ‘success’.

https://www.linkedin.com/pulse/execution-planning-where-real-magic-happens-david-tellez/

0FansLike
0FollowersFollow
0FollowersFollow
0FollowersFollow

Recent Articles

Asana BioSciences to Present Positive Results from Phase 2b Study of Oral JAK/SYK Inhibitor Gusacitinib in Patients with Chronic Hand Eczema in the Late-Breaking...

LAWRENCEVILLE, N.J.--(BUSINESS WIRE)--Asana BioSciences’ Oral Gusacitinib (ASN002) demonstrates rapid and significant...

Aptinyx Announces Proposed Public Offering of Common Stock

EVANSTON, Ill.--(BUSINESS WIRE)--Aptinyx Inc. (Nasdaq: APTX), a clinical-stage biopharmaceutical company developing...

Xeris Pharmaceuticals Granted Fast Track Designation by the FDA for Its Novel Concentrated Diazepam Formulation (XP-0863) For Injection

CHICAGO--(BUSINESS WIRE)--Xeris Pharmaceuticals, Inc. (Nasdaq: XERS), a specialty pharmaceutical company leveraging...

AppliedVR Receives FDA Breakthrough Device Designation to Treat Pain with Digital Therapeutic

LOS ANGELES--(BUSINESS WIRE)-- #chronicpain--AppliedVR, a pioneer advancing the next generation of...

After Meeting with FDA, Guided Therapeutics to Start Study in Support of its Application for FDA Approval

PEACHTREE CORNERS, Ga.--(BUSINESS WIRE)-- #FDA--After Meeting with FDA, Guided Therapeutics to...
2020 Call for Writers

Are you looking to inspire others in the pharma industry through your writing? You’re invited to submit your articles to become a Featured Writer for The Pharmaceutical Marketing Group website.