Blockchain and its Implications for the Pharmaceutical Supply Chain

Shipchain

Blockchain in the pharma supply chain can dramatically affect the success and verifiability of pharmaceuticals. Unlike other industries, pharmaceuticals are subject to intense regulation. Tracking these pharmaceuticals is tantamount to keeping the burden of health care in check.

Are these the Top 10 Trends affecting Pharmaceutical Supply Chains?

The Network Effect

Note: this is the final is series of posts that explored the top 10 trends affecting pharmaceutical supply chains. . Inventory management a top priority. The post Are these the Top 10 Trends affecting Pharmaceutical Supply Chains? PharmaceuticalKiran Foster/Flickr.

Gaining Clarity on Inventory Effectiveness

Supply Chain Shaman

The impact of complexity on inventory is not quick. To help, today I want to share some of the insights from our recent Inventory Optimization study. Inventory management is a hot issue. Companies invest in project after project, yet inventory levels remain the same.

State of the Pharmaceutical Supply Chain: Key Takeaways from LogiPharma US 2016

Kinaxis

Earlier this week, I attended the LogiPharma conference, a wonderful event for supply chain professionals working in the pharmaceutical industry. In this blog, I want to share some key challenges faced by the pharma industry and pharmaceutical supply chains.

Patient-centric networks at the heart of pharmaceutical supply chain management: Lessons from LogiPharma Europe 2018

Kinaxis

Excellence in operations driven by end-to-end visibility into inventory levels will be important. Do I have the system-wide ability to support the demand in such situation and still manage my assets and inventory effectively?

Seven Misconceptions on Managing Inventory in a Market-Driven World

Supply Chain Shaman

When it comes to the management of inventory in value chains, frustration abounds. Executive, after executive, lament, “They have purchased many technologies and sponsored many projects to reduce inventories, but they are not seeing results.”

Inventory, inventory, inventory. They’ve all got it – inventory.

Enchange Supply Chain Consultancy

Amongst the many variables in running a Supply Chain, the one certainty in FMCG, Pharmaceutical and Agri businesses is that inventory is solely in the eye of the beholder. FMCG Forecasting & Demand Planning Inventory Management & Stock Control Supply Chain Analytics

Compliance in Pharmaceutical Supply Chains Through Integration

Veridian Solutions

The passage of the Drug Supply Chain Security Act (DSCSA) has re-energized the importance of compliance in pharmaceutical supply chains. Compliance Challenges in Pharmaceutical Supply Chains The top challenges of pharmaceutical supply chains exist due to problems throughout all supply chains, including: Poor coordination and collaboration between suppliers and supply chain networks. Inaccurate inventory management.

Major Trends Impacting the Pharmaceutical Supply Chain Ecosystem

Supply Chain View from the Field

One of the biggest recipients of this trend is the pharmaceutical environment. Several trends have shaped the pharmaceutical ecosystem in the last few years, and Obamacare is only one among many. But it isn’t the volume that is the challenge, but the nature of the pharmaceutical industry that has created the greater challenges. Companies respond to demand volatility in two ways: reducing inventories and trying to instill more agility in their supply chains.

How the cloud and counterfeiting are affecting the pharmaceutical supply chain

The Network Effect

Note: This is part of an ongoing series on the top ten trends affecting the pharmaceutical supply chain. Pharmaceuticals manufacturers now realize that integrating upwards of 100 contract manufacturers in different regions into their core ERP would take several years.

Segmenting Your Inventory by Gross Margin and Demand Variability

ToolsGroup

Gartner Research analyst Paul Lord has developed a thought-provoking approach (shown in the above diagram) for tailoring supply and inventory tactics to different inventory segments. As we showed in a previous blog, it’s not the only way to segment your inventory, nor nearly the best.

A Healthy Dose of Chips: Supply Chain Lessons for Life Sciences at the 2015 Pharmaceutical Innovation in Manufacturing Summit

Kinaxis

by Melissa Clow A quick post to let our readers know that we’ll be at the 2015 Pharmaceutical Innovation in Manufacturing Summit (PIMS). What can a lifelong Semiconductor Supply Chain expert have to say about Pharmaceuticals?

Inventory Obsolescence: It Can Get Complicated

ToolsGroup

The knack in today’s innovation economy is to understand how the value of a particular SKU deteriorates or its costs increase so that profit erosion can be factored into inventory optimization calculations. But correctly modeling inventory obsolescence is important.

Growing recognition within pharma that inventory management should be a top priority

The Network Effect

There is growing recognition within pharma that inventory management should be a top priority. Industry insiders are beginning to put increasing focus on improving their inventory management practices, which lag far behind those of other industries. Pharmaceutical

Preventing 3 Common Inventory Control Issues

Unleashed

For large corporations or SMEs, correctly managing your inventory stock is imperative to achieving an efficient, sustainable and profitable business. Inventory control , however, brings with it many issues but with the right tools, some of the common ones are easily managed. Problems include product stockouts that result in lost sales opportunities and unhappy customers and product spoilage or dead inventory stock which will incur unnecessary costs and tie up storage space.

Why Have We Not Reduced Inventory?

Supply Chain Shaman

This year supply chain leaders will celebrate thirty years of progress in supply chain management; but we have not made progress on one of the funamentals: inventory management. Have the early adopters of inventory optimization seen a reduction in inventory on their balance sheets?”

Medicine's Inventory Nightmare

Elementum

In the pharmaceutical industry, supply chain disruptions can mean the difference between life and death for patients whose survival depends on consistent, timely access to the right medications and medical supplies. However, many hospitals and medical institutions struggle to provide adequate care due to inventory issues resulting from a dependence on outdated and inefficient supply chain management systems. For more about flexible inventory management, read our recent blog.

The Evolution of Supply Chain is Becoming Patient-Centric

DynaSys

Industries such as pharmaceuticals and medical device are becoming increasingly more patient-centric. The face of life sciences has undergone a change.

Medicine's Inventory Nightmare

Elementum

In the pharmaceutical industry, supply chain disruptions can mean the difference between life and death for patients whose survival depends on consistent, timely access to the right medications and medical supplies. However, many hospitals and medical institutions struggle to provide adequate care due to inventory issues resulting from a dependence on outdated and inefficient supply chain management systems. For more about flexible inventory management, read our recent blog.

Life Sciences Industry Inventory Optimization Health Check

Logility

One potential way to reduce costs without lowering the quality of healthcare is to optimize how much inventory is required and where that inventory is positioned. Pharmaceuticals usually have a short shelf life. How much excess inventory do we have and where is it?

Not up to Promethean Standards: Greece’s Pharmaceutical Supply Chain is Worryingly Weak

Elementum

While food and oil are readily available, certain supply chains – most worryingly, pharmaceuticals – are in danger of being disrupted at various levels. In fact, Greek hospitals owe pharmaceutical companies a combined $1.2 source: It Makes Sense Blog.

Italian Pharmaceutical Group Unifarm Manages Replenishment Orders of Customer Pharmacies with RELEX

RELEX Solutions

a pharmaceutical products wholesaler which supplies 1900 pharmacies across Northern Italy and Sardinia, has implemented and fully rolled out RELEX’s system to improve the pharmacies’ inventory turnover and further increase the level of service they offer their customers. Unifarm is pioneering an innovative vendor managed inventory (VMI) service named SARA (Advanced Automatic Replenishment System, Sistema Avanzato di Riordino Automatico in Italian). Read PDF. Unifarm S.p.A.,

Italy 28

Pharmaceutical customer significantly improves inventory - The 21st.

Kinaxis

What is Web Based Inventory Management Software?

EMERGE App

You run a lean business model with minimal overheads and using web-based inventory management software plays a big part in this. And you expect the same standard for inventory management software. What to Expect from Web-Based Inventory Management Software. Introduction.

Four Inventory Optimization Questions Every Life Sciences Supply Chain Team Should Ask Itself

Logility

How do you know if meaningful inventory optimization is possible for your life sciences organization? Supply chains in all branches of the industry involve high-value, high-margin items that tend to trap large amounts of working capital in excess inventory, so the potential benefit is real.

Four Inventory Optimization Questions Every Life Sciences Supply Chain Team Should Ask Itself

Logility

How do you know if meaningful inventory optimization is possible for your life sciences organization? Supply chains in all branches of the industry involve high-value, high-margin items that tend to trap large amounts of working capital in excess inventory, so the potential benefit is real.

How AI Solves the Riddles of Inventory Management

Aera Technology

by Kaushal Dave, Vice President of Cognitive (AI) Solutions, Aera Technology The problems that pervade inventory management are well known: Excess inventory languished in warehouses, tying up millions of dollars in working capital. How can we best manage expiring inventory?

Pharma companies will increasingly take cues from retail and consumer goods….why?

The Network Effect

Thus, using retail and consumer goods as a guide, we can expect that companies will tailor the mode of transportation, warehousing and depth of distribution in each country for different pharmaceuticals and medical devices. Pharmaceutical Visibility supply chain technology visibility

Changing Mental Models

Supply Chain Shaman

While hospital supply chain organizations have made progress in the last decade, the gap has widened between the supplier sectors of pharmaceuticals and medical device manufacturers and other manufacturing industries. Pharmaceutical products are growing more complex.

How Do We Heal the Healthcare Value Network?

Supply Chain Shaman

Pharmaceutical companies are struggling with falling margins and rising inventories. Over the last decade, neither the pharmaceutical nor medical device manufacturer has been able to drive the revenue/employee productivity gains of their comparative peer groups.

Vendor Managed Inventory? Think twice and consider the risks!

Supply Chain View from the Field

Historically, businesses have used one of two extremes for inventory management: push-based or pull-based. Push-based inventory management uses demand forecast to manage inventory and replenish from the supply base. Pull-based inventory management, on the other hand, uses consumption to replenish from the supply base and manage inventory. Inventory levels actually increased at downstream (buyer) facilities.

Walgreen’s Acquisition of Amerisource Bergen is based on the need for integration to survive

NC State SCRC

Those days of hefty prices using “Next Best Alternative are gone – and pharmaceutical distribution is a cut-throat business with very tight margins. As a result, pharmaceutical distribution companies had to adopt a different model, one identifying a Fee For Service model.

Healthcare: A Call For Action

Supply Chain Shaman

For example, for the period of 2010-2016, pharmaceutical company margins averaged 22%. However, we can start with inventory management and the tracking of materials in the hospital more efficiently. In those days, it was impossible to track inventory in the warehouse.

Measuring Up?

Supply Chain Shaman

In our analysis, only one out of ten companies successfully improves operating margins and inventory turns at the same time. In the month of April, we will publish an analysis of the pharmaceutical industry. Growth is slowing in all industries, but pharmaceuticals.

How Do I Know If I Am Ready?

Supply Chain Shaman

” A Demand Planner for a Large Multinational Pharmaceutical Company. The average client that has implemented demand sensing technologies has reduced inventory by 11%. Yes, it may decrease short-term sales, but in the longer-term it will increase customer service, reduce inventory and improve the execution of new product launch and trade promotions. Demand demand planning demand sensing inventory management inventory reduction