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3 Ways To Prevent Supply Chain Risk In The Pharmaceutical Industry

Pinnacle Life Science is a 100% subsidiary of Indiau2019s most trusted pharmaceutical company Aarti Drugs Ltd (ADL) and forms part of $ 1.5 billion conglomerate of the esteemed Aarti Group of Industries. <br>

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3 Ways To Prevent Supply Chain Risk In The Pharmaceutical Industry

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  1. 3 Ways To Prevent Supply Chain Risk In The Pharmaceutical Industry

  2. About Pinnacle Lifescience • Pinnacle Life Science is a 100% subsidiary of India’s most trusted pharmaceutical company Aarti Drugs Ltd (ADL) and forms part of $ 1.5 billion conglomerate of the esteemed Aarti Group of Industries. • With 35 years of healthcare commitment through Aarti Drugs, Pinnacle has made its presence in nearly 90+ countries. Treading carefully on the path of efficient healthcare, the state-of-the-art manufacturing facility is designed to produce formulations that meet international quality standards and stringent regulatory compliances to trade beyond borders. • With significant expansion in R&D, Manufacturing & Marketing capabilities, we are poised for an accelerated growth.

  3. 3 Ways To Prevent Supply Chain Risk In The Pharmaceutical Industry – Pinnacle Life Science • Did you know the global value of pharmaceutical items traded has increased sixfold in the last two decades? From $113 billion in 2000 to $629 billion in 2019, supply chains have become increasingly global, complicated, and opaque due to this expansion. • Companies are exponentially using contract manufacturers for production, introducing new modalities, and experimenting with fresh ways to contact patients. Pharmaceutical supply chains could suffer significant losses if they do not examine and plan for these developments’ risks. • Supply-chain risk is a significant factor for pharma companies’ susceptibility to disruption. Knowledge of the nature of the supply chain’s risks is the first step in establishing supply-chain resilience.

  4. End-To-End Transparency • A lack of visibility into suppliers’ business activities can be a substantial risk for pharma businesses. For instance, exploitation of child labour by suppliers overseas can make brands inadvertently participate in unethical labour practices. • To have an end-to-end perspective of the supply chain and detect weaknesses, a corporation must map its suppliers by tier. It’s critical to understand exposures beyond supply, such as how items are manufactured, delivered, and kept. Each stage has its own set of issues. A minor transportation provider’s insolvency is a vital area; for example, it might bring an entire supply chain to a halt.

  5. End-To-End Transparency • It is vital to gather leading and lagging resilience metrics in seven areas from internal and external data sources to get a comprehensive picture of each stage’s ongoings: • Data Security • Finance • Operations • Organisational Maturity • Regulation • Reputation • Structure

  6. Routine Stress Testing And Re-Evaluation • Companies frequently employ scenario planning and simulation models to predict their vulnerabilities, evaluate the potential impact, and minimise the consequences. • During the COVID-19 pandemic, for example, a leading pharmaceutical business employed a digital-twin simulation to comprehend better the impact of production slowdowns and shutdowns on patient drug supplies. This allowed the corporation to recognise that it had more time than expected to create and implement safer working practices in its production plants. • Therefore, the best solutions were possible. Once a corporation has visibility into its supply chain, it can continuously assess the possibility of various hazards.

  7. Measures To Reduce Shock Exposure • Expanding the network of suppliers is one of the most prevalent ways for robustness. Depending on a single source for vital components or raw materials or several suppliers located in the exact location can be a weakness. • However, multi-sourcing isn’t the sole solution. A corporation can take measures to balance inventory levels better. It can fortify physical assets to withstand hurricanes and storm surges and provide financial support to troubled but critical suppliers. • More information : https://www.pinnaclelifescience.com/2022/01/10/3-ways-to-prevent-supply-chain-risk-in-the-pharmaceutical-industry/

  8. Contact Us Address: Mahendra Industrial Estate, Ground Floor, Plot No. 109D, Road No 29, Sion(E) Mumbai-400022, India. Phone No: +91 (22) – 24019025 Email: export.pinnacle@aartidrugs.com Site: www.pinnaclelifescience.com

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