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IBM Study Reveals Drug Companies Struggle to Improve Supply Chain to Battle Counterfeiting, Safety Concerns and Global Complexity
Date:9/9/2009

  • Monitoring risk to prevent counterfeiting, drug and device recalls, or even the loss of intellectual property, is a priority for 75 percent of executives, as margins become slimmer and supply chain complexity rises. Three-quarters have risk and performance initiatives such as surveillance programs, anti-tamper devices and specialized labeling, but with mixed results.
  • 46 percent consider vendor-managed inventory for their customers extremely effective but only 4 percent use it to ensure they are precisely meeting customer demands for products
  • 65 percent collaborate with suppliers on demand planning but only 31 percent do so with customers, often resulting in an overstock of supplies or missed sales targets
  • Compared to 18 other key industries, the life sciences business is one of the most highly globalized, particularly in the area of Research and Development. From a supply chain perspective, the industry is not as advanced. In general, global sourcing brings with it challenges including daunting capacity, quality, lead times and delivery issues. For the life sciences industry, seventy-six percent of respondents suffer quality issues linked to global sourcing while nearly fifty percent reported increased sales from their globalization efforts due to the growing population of consumers in rapidly developing markets.

    More pharmaceutical companies are selling drugs, devices, therapies and services supplied by different partners. They are also serving smaller patient segments, rather than relying on major new drug discoveries that drive revenue over many years. The IBM study underscores the fact that drug manufacturer supply chains need to be more interconnected and intelligent, equipped with sensors and smart devices that share data so they can rapidly change their business models to address new market opportunities.

    "As the industry faces a time of tr
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    SOURCE IBM
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