Supply Chain: The role of technology for Bio Pharma
– Part II
The second article about the role of technology for Bio Pharma outlines how change management, timescales and alternate partners can help to address shortages within the supply chain.
The platform for improvement requires change management with a tech-positive mindset
Ensuring an understanding of responsibilities across the supply chain ecosystem is imperative. Until recently, Bio Pharma companies have struggled to effectively communicate and be transparent with partners. Post pandemic, organisations must ensure the supply chain is involved in the end-to-end process, right up until the drug reaches the patient, all understanding their respective roles and responsibilities.
Implementing user friendly technologies is key; technologies that everyone across the supply chain can easily access. Making sure partners are aligned, with the same mindset and roadmap to take ideas forward, is also crucial. If the Bio Pharma sector is only looking to achieve maximum benefit at the lowest costs, ultimately margins will be too stretched. Small steps, such as focusing on a certain segment of the supply chain, to make inroads into a process that generates value, may well provide the company with the ability to move an idea forward.
Above all, the industry needs to manage any resistance to change, ensure senior management support and buy-in, and where possible they should share examples of where supply partners have had success.
Coping with shorter timescales for clinical trials
When asked whether supply chain shortages in pharma production could impact supply chain issues in relation to clinical trials and, if so, how such impacts can be mitigated, all agreed that with clinical supply it is often hard to know what raw materials are needed to supply the study. In fact, the time frame for the whole process has shrunk from years to months.
Additionally, where tests were once only extended to local populations, now they must scale to global populations. This makes it hard to predict requirements. However, those in charge of production should implement and adapt their raw material strategy to acquire similar materials as back up. By doing so, they will always have raw materials to hand and an ability to react quickly and mitigate risk. It was noted that if there is a contract manufacturing organisation (CMO) undertaking drug development through to drug manufacturing on behalf of the Bio Pharma company, this can be more challenging to achieve.
One participant said, “we have a production plan only for drugs substances, we rely on CMOs who want a forecast from us six months ahead of time. It is very hard to request additional material.” This is why it is important to build a partnership with the CMO with umbrella contracts that are not product specific, but focus on capacity reservation. As long as products are similar; this provides a fallback. Ultimately, if you want to mitigate the risk of a lack of inventory you must have a strong relationship with the CMO.
Agree alternate supply sources
Likewise, it has become more important to have alternate partners in the pipeline in case there is an issue, so the Bio Pharma company can avoid any potential risk in the supply chain. Often the company is susceptible to the partners’ supply chain issues and, in some instances, it will manage the partner’s supply chain for them to de-risk any supply shortages or other challenges in their chain. To actively address this issue, Bio Pharma companies should explore alternative supply sources over a period of time.
Part III is about to follow.
Read more insights…
blog
Navigating the Future of European Business: 5 game-changing strategies for growth
In an article for Management Today, Hiroyuki Nishiuma, CEO of Panasonic Connect Europe reflects on the challenges facing businesses and key focus areas amidst a dynamic and evolving European economic outlook.
blog
Discovering Innovation: An updated Journey Through Panasonic's Experience Center
In the heart of cutting-edge technology and customer engagement lies the Panasonic Campus Munich. The corporate brand and experience center in Europe is supposed to be figurately spoken a beacon of innovation and a hub for immersive, hands-on experiences. Our goal: The Campus Munich stands out as a pivotal space where technology meets innovation, and ideas transform into tangible solutions.
blog
Three Lessons Learned: What grocery stores can learn from petrol stations
Forecourt operators face considerable changes from the impacts of sustainability, as mobility continues to shift towards hybrid and electric charging, and possible future use of Hydrogen vehicles. – the future forecourt may never look the same again. However, even tough, increased investment is required to implement new forms of charging, petrol stations can be profitable. But for what reason? Because the real profit is made IN the retail store.
blog
Navigating Together Towards a Brighter Future: Our Commitment to Recognition2024
As businesses embark on a new financial year, now is a great time to reflect on the resilience and innovation that European organisations have shown over the past 12 months - in the face of unparalleled challenges - and to move forward with optimism.
Sorry there was an error...
The files you selected could not be downloaded as they do not exist.
You selected items.
Continue to select additional items or download selected items together as a zip file.
You selected 1 item.
Continue to select additional items or download the selected item directly.
Share page
Share this link via:
Twitter
LinkedIn
Xing
Facebook
Or copy link: