How pharmaceutical brands can be resilient
Let’s approach the components of supply chain resilience holistically, suggests HICX’s CEO, Costas Xyloyiannis
Although inflation and economic pressures force pharmaceutical brands to watch their pennies, they will do well to avoid tackling cost efficiency as a solo issue. Brands require resilience in an array of areas and, chief among these, is compliance.
Stringent regulations must be followed, although the supply chains from which they are navigated are incredibly complex. So, can brands manage resilience factors, such as costs and compliance, holistically?
Each factor has its own requirements. For example, if the supply chain is to be cost-efficient, then we must identify cost-cutting opportunities; if it is to remain compliant, then we must address supplier activities that pose risks.
However, beneath every resilience factor exists a common denominator. Directly impacting each factor is whether the key risks and opportunities are clear. It’s all about visibility.