Global Supply Chain Visibility, Control & Collaboration;
Regulatory Necessity, Business Imperative
The globalization of Pharmaceutical, Medical Device, Diagnostic and Biotechnology (Life Science) Products has created unique opportunities and demanding challenges for Industry and Regulators alike. To identify key initiatives Industry and Regulators are undertaking to address Life Science Global Supply Chains, Analyst and Strategic Advisory firm Axendia, Inc. conducted a research study.
The research team polled over 110 Industry Executives representing 75 companies from 12 countries around the globe. The Research Report detailing findings and recommendations is available now.
Why is this important?
In recent years supply chain issues such as Heparin, melamine and diethylene glycol contamination have brought the challenges of Life Science Global Supply Chains to the forefront. According to a recent FDA report, “The growth in imports during the last decade has been staggering.” Over the last five years, the import of Life Science Products has grown by nearly 50% and at last reported represented 81.5 Billion US Dollars according to US government sources.
What Did the Research Find?
This research identified key trends, requirements, and initiatives Life Science stakeholders should implement to transition to a new paradigm for operating in an increasingly Global and outsourced reality. To attain the sustained benefits of globalization, the researchers call for the Life Science Ecosystem to implement a new model to manage global supply chains. Life Science Stakeholders must implement strategies, which capitalize of the benefits of globalization, while proactively reduce and control risks.
The complete findings of this research study are available in a new report entitled, “Global Supply Chain Visibility, Control & Collaboration: Business Imperative, Regulatory Necessity”.