“Global Supply Chain Visibility, Control & Collaboration; Regulatory Necessity, Business Imperative“
The dynamics of the Global Supply Chain are driving the Life Science ecosystem to seek innovative approaches which improve product safety while at the same time reducing costs and risks. To attain the sustained benefits of globalization, the Life Science ecosystem must implement a new paradigm to manage Global Supply Chains. This was a key finding of a major study of Pharmaceutical Drug, Medical Device and Bio-Pharmaceutical Industry Executives conducted by Axendia, Inc.
Life Science Stakeholders must implement strategies which capitalize on the benefits of globalization, while proactively reducing and controlling risks. This calls for changing the business, technology and regulatory models traditionally used by the Industry.
To this end, the research report recommends the Life Science ecosystem implement:
On-Demand Visibility
“On-Demand-Visibility” strategies and systems provide the ability to obtain relevant information about the product at the appropriate time to enable decisions with a high degree of confidence based on the analysis of contemporary data.
Control Over the Global Supply Network
Life Science Organizations must gain tighter control over the complete Supply and Value Chains, from ingredient to patient. Control over the Supply Chain extends well past ingredient and components coming into the corporate manufacturing facility. Brand Owners are faced with the necessity to maintain control over their product(s) once it leaves the shipping dock. Counterfeiting, product diversion and thefts are on the rise and Brand Owners must deploy systems and technologies to provide visibility and control not only in the Supply Chain, but also in the entire Value Chain, from components and ingredients to the consumer.
Collaboration Strategies
Life Science Organizations must gain tighter control over the complete Supply and Value Chains, from ingredient to patient. Control over the Supply Chain extends well past ingredient and components coming into the corporate manufacturing facility. Brand Owners are faced with the necessity to maintain control over their product(s) once it leaves the shipping dock. Counterfeiting, product diversion and thefts are on the rise and Brand Owners must deploy systems and technologies to provide visibility and control not only in the Supply Chain, but also in the entire Value Chain, from components and ingredients to the consumer.
The complete findings of this research study are available in a report entitled, “Global Supply Chain Visibility, Control & Collaboration: Business Imperative, Regulatory Necessity”.
To request a copy of this report, please Email Axendia
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The opinions and analysis expressed in this post reflect the judgment of Axendia at the time of publication and are subject to change without notice. Information contained in this post is current as of publication date. Information cited is not warranted by Axendia but has been obtained through a valid research methodology. This post is not intended to endorse any company or product and should not be attributed as such.