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Transitioning toward a digital supply chain allows pharmaceutical businesses to cooperate with supply networks and efficiently produce value.
Fremont, CA: Since 2020, the development and dissemination of COVID-19 vaccinations have spotlighted the pharmaceutical supply chain. Companies have found new methods to collaborate to supply millions of doses, formed new alliances, and overcome new distribution hurdles.
Despite the vaccination deployment, the pharmaceutical sector has faced significant hurdles and changes, including greater regulation, mergers and acquisitions, and changing customer demands in a competitive industry.
As a result, the pharmaceutical sector is focusing on strengthening supply chain resilience while preserving lean flexibility to pivot in shifting market conditions.
To fulfill these objectives, pharmaceutical businesses must transition their supply chains from segregated networks to a more integrated and collaborative architecture that delivers centralized, real-time data transparency to link partners and allow operational efficiency. However, supply constraints add a new dimension of immediacy to this dilemma.
Here are three supply chain concerns where digital transformation may help enhance resilience:
• GxP-compliant solutions improve data transparency and quality management
Digital supply chain platforms that adhere to GxP rules for manufacturing processes can assist pharmaceutical manufacturers in more effectively collecting and tracking supply chain data to maintain consistent quality in their raw material and finished goods. A more precise track and trace reduce the likelihood of an expensive recall.
• Collaboration between pharmaceutical corporations and contract manufacturers is lacking
With that complexity, having a single, AI-powered platform to store and analyze data in real-time can produce savings while avoiding interruptions caused by forecast or capacity planning concerns.
• R&D and new product development delays and barriers
Due to supply constraints and the reallocation of medical resources to accelerate the response to COVID-19, clinical studies and critical research and development in the pharmaceutical supply chain got delayed.
A strong supply ecosystem is required in the pharmaceutical sector to support financing, infrastructure, and cooperation for the research and development of new products. In addition, supplier chain and procurement organizations can help make research and approval procedures more streamlined and efficient by bridging gaps in the supply network and centralizing data.