The pharmaceutical business is in flux. Rising prices, advanced provide chains and affected person care issues are just some of the challenges protecting provide chain leaders up at evening. However worry not, as a result of the model new LogiPharma Playbook 2024 is right here to make clear the developments and options shaping the way forward for pharma.

In Q1 of 2024, we surveyed 150 provide chain leaders and comparable degree executives from throughout Europe to uncover the brilliant future on the horizon for the pharma business. We delved deeper into their challenges, aspirations and improvements, pushed by a shared willpower to make a distinction. Our sponsors, Kinaxis, OneNetwork, Tive and YuanTing Chilly Chain, seamlessly step into the function of thought leaders, producing transformative business insights.

The vital query being requested by provide chain leaders: How are you unlocking the potential of latest, progressive know-how and digital networks? Monetary stress is mounting, and the pharmaceutical business isn’t any exception. However as an alternative of panicking, provide chain leaders are getting tactical. We’re seeing a shift in the direction of back-to-basics optimisation, with a heavy emphasis on visibility and management.

The outdated methods of planning simply gained’t reduce it anymore. Our survey reveals a whopping 57% of provide chain leaders are prioritising a whole overhaul of their processes. This implies embracing progressive modalities, exploring outsourcing choices, and finally constructing stronger inside capabilities.

The important thing to success? Optimising scheduling and useful resource allocation. With environment friendly programs in place, organisations can react shortly and confidently when the surprising occurs. Consider it as weatherproofing your provide chain: ready for any storm.

Information is the lifeblood of the pharmaceutical business, powering every part from groundbreaking analysis to environment friendly provide chains. However with this reliance comes a serious problem: protecting that information secure.

Our current survey paints a transparent image – the pharma business is a chief goal for cyberattacks. Almost a 3rd (31%) of respondents recognized information breaches and safety as their greatest information administration concern. That is unsurprising, contemplating the dear belongings at stake: analysis investments, groundbreaking discoveries and delicate affected person info.

In a world more and more reliant on digitalisation, the stakes have by no means been larger. The stress to safe information goes hand-in-hand with the drive in the direction of larger effectivity. For pharma leaders, it’s a continuing balancing act – harnessing the ability of information whereas making certain its safety.

The world is a posh place proper now – geopolitical tensions are rising, and provide chains stay unpredictable. For the pharmaceutical business, this implies one factor: constructing resilience. Mitigating threat and discovering progressive methods to climate disruptions are extra vital than ever.

Our analysis revealed a worrying pattern: drug shortages are having a unfavourable impression on each sufferers and pharmaceutical corporations. Respondents reported disruptions in affected person care and entry to drugs. This interprets into income losses and elevated competitors for pharma leaders.

However there’s hope! Leaders are actively in search of options. The main target within the brief time period? Improved planning and elevated resilience. It will guarantee larger stability and assist organisations navigate the present challenges.

Nevertheless, the long-term imaginative and prescient goes past simply weathering the storm. Our survey additionally revealed a sturdy concentrate on sustainability. A big majority of respondents are dedicated to “making a optimistic ESG impression” and implementing “extra sustainable practices” of their provide chains.

This two-pronged strategy is essential. Whereas constructing resilience is essential within the brief time period, embracing sustainability gives a path to long-term development. By combining short-term options with a long-term imaginative and prescient for the setting, pharma corporations can chart a course for fulfillment in these unsure instances.

The LogiPharma Playbook is nearly be launched and our audiences are being given entry to the daring, progressive actions their friends are taking in the direction of change.

To be taught extra, obtain your free copy of the playbook for FREE right here!

Touch upon this text through X: @IoTNow_