Allen Jacques, industry thought leader at Kinaxis, shares that by using technology to improve supply chain visibility and transparency, companies can plan for volatility and identify potential disruption before it occurs, thereby restoring consumer wellbeing and trust.
Key insights:
- 54% of UK pharmacists surveyed fear that patients have been put at risk in the past six months due to shortages.
- Pharma companies often prioritise patent protected drugs, where profit margins are high, over drugs with generic competition, where profit margins are much lower.
- The pharma supply chains that are in the best current shape are those that can see and assess events quickly and drive actions to mitigate any ensuing disruption.
The pharmaceutical industry fared relatively well through the pandemic, with few manufacturing sites being closed due to infections. Therefore, it may come as some surprise that the sector has recently hit rockier ground. A supply chain shortage has come to light, leaving many patients struggling to access pain relief, oncology medication, anticlotting agents, and other important drugs.