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How to achieve resilience for a Pharmaceutical supply chain management

 


Pharmaceutical supply chain management is no longer the simplest process on earth. The renewed outsourcing and modalities introduced to the industry has brought it closer to the patients but at the same time, the industry needs to make sure that their customers are protected against any kinds of inevitable shocks.


The much-needed resilience and tolerance in Supply-chain require four aspects to its service. These four magical stones are end-to-end transparency, routine stress-testing and reassessment, reduced vulnerability, and supply-chain tolerance towards the executive agenda.


  1. End-to-end transparency:


One thing that shakes the successfully running business model is the lack of transparency between the business conducted between suppliers and suppliers’ suppliers. A brand or a pharmaceutical can be accused of conducting unfair business if it fails to maintain transparency in its business and commerce.

 

  1. Routine stress-testing and reassessment:


A company needs to be good enough at assessing itself. When the self-assessment is sharp, a brand has a good idea about its weaknesses and therefore can gain an idea about its potential roadblocks. Once the potential challenges are known, one can work better to eliminate them.


  1. Reduced vulnerability of the Pharmaceutical supply chain management:


Vulnerability is not a very beneficial trait to have when it comes to business. Pharmaceutical supply chain management should make sure that a brand does not have just one supplier to depend on. The lack of options makes a business more and more vulnerable.


  1. Supply-chain tolerance towards the executive agenda:


To improve the resilience of pharmaceutical supply chain management, the strategic planning and execution of the plan are what need to be worked on. The two most popular ways to do so are to either incorporate supply-chain resilience in existing forums or to come up with a chartered risk committee.


Conclusion:


The resilience required in a pharmaceutical supply chain management can be achieved by conquering four aspects of the business, which are end-to-end transparency, routine stress-testing and reassessment, reduced vulnerability, and supply-chain tolerance towards the executive agenda.


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