Realizing the promises of life sciences 4.0 will be the market differentiator for businesses competing in today’s environment.
FREMONT, CA: There is increasing interest among the leaders and decision-makers in the life sciences industry around the world. Life sciences manufacturers face an ever-present need to remain competitive in a marketplace where product portfolios are diversifying, innovative companies challenging the status-quo, supply chain partners becoming more integrated and patients more involved in care decisions. Realizing the promises of life sciences 4.0 will be the market differentiator for businesses competing in this environment. Taking a strategic approach to determining an organization’s maturity in digital manufacturing operations can be vital in moving forward. Read on to know more.
Current trends and the increasingly accelerating rate of change in the industry, make it vital for life sciences organizations to insert practical innovation into their manufacturing processes and leverage the tremendous volume of data generated within their value chains. For this, companies must utilize advanced technologies to digitize end-to-end processes or risk competitive disadvantage in a world of collaboration within and across industry verticals.
Life sciences companies with in-house manufacturing maintain their manufacturing operations on outdated platforms, with a reluctance to change to more advanced technology due to perceived product quality, safety hurdles and costs associated with revalidating a working, licensed manufacturing process. Life sciences manufacturing leaders know that safely and efficiently manufacturing drugs or medical devices relies on collecting and storing the required data and leveraging it in ways previously not possible. Stakeholders can utilize Industry 4.0 capabilities to sense, predict and automate functions on the shop floor.
With data and connected devices, manufacturers can enhance overall equipment efficiency and productivity by proactively sensing equipment failure based on run-time data and invoking a predictive maintenance activity. This can contribute to improving production processes by reducing planned downtime and breakdowns. In conclusion, the life science industry is mitigating risk with the life sciences 4.0 revolution. Also, with this revolution, the new products, processes and services will be cheaper, faster, safer and of higher quality than their predecessors.