Five Steps to improving your pharma supply chain
In the past, pharmaceutical companies needed to focus their skills on R&D, sales and marketing. But as the competitive landscape heats up, so have the required operational capabilities. Today, operational capabilities are critical, and these five strategic steps will help improve your pharma supply chain.
1. Tailored business streams- Implement a series of individual supply chains, each tailored toward its own product, market, and customer groups.
2. Flexible product design and packaging- Manage product demand volatility in low-margin drugs by implementing pack-to-order strategies.
3. Reconfigure the supply chain footprint- Consider a complete overhaul of your factory footprint based on carefully constructed forecasts of regional and local customer demand and product requirements, as well as production and logistics cost and lead time trade-offs
4. Create a network of third-party suppliers- To be prepared for market dips, a thoughtful make-versus-buy strategy is essential.
5. Significantly improve planning capabilities- Large-scale shifts in the competitive landscape have escalated the importance of successful product launches, which require strong planning capabilities to properly navigate these shifts.
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