The key to building better resilience in pharmaceutical supply chains
By Costas Xyloyiannis, CEO of HICX
While inflation and economic pressures are forcing pharmaceutical brands to watch their pennies, they will do well to not tackle cost efficiency as a solo issue. Brands will also need to focus on resilience in various areas of their incredibly complex supply chain. Chief among these concerns is compliance as stringent regulations must be followed.
So, can brands manage resilience factors, such as costs and compliance, holistically?
Both factors have unique requirements, such as finding ways to cut costs or to stop risky activities. However, each factor stems from a common cause: murky supply chains. By fixing poor-quality supplier data, therefore, the pharmaceutical sector can be significantly more resilient at the same time as cutting costs.