The dynamics of the Global Supply Chain are driving Pharmaceutical, Medical Device and Bio-Pharmaceutical Executives to seek innovative approaches which improve product safety while at the same time reduce costs and risks.
Yardley, PA (PRWEB) October 27, 2010
The dynamics of the Global Supply Chain are driving the Life Science ecosystem to seek innovative approaches which improve product safety while at the same time reducing costs and risks. To attain the sustained benefits of globalization, the Life Science ecosystem must implement a new paradigm to manage Global Supply Chains. This was a key finding of a major study of Pharmaceutical Drug, Medical Device and Bio-Pharmaceutical Industry Executives released today by the analyst and strategic advisory firm Axendia, Inc.
Life Science Stakeholders must implement strategies which capitalize on the benefits of globalization, while proactively reducing and controlling risks. This calls for changing the business, technology and regulatory models traditionally used by the Industry.
To this end, the research report recommends the Life Science ecosystem implement:
“On-Demand-Visibility” strategies and systems provide the ability to obtain relevant information about the product at the appropriate time to enable decisions with a high degree of confidence based on the analysis of contemporary data.
Control Over the Global Supply Network:
Life Science Organizations must gain tighter control over the complete Supply and Value Chains, from ingredient to patient. Control over the Supply Chain extends well past ingredient and components coming into the corporate manufacturing facility. Brand Owners are faced with the necessity to maintain control over their product(s) once it leaves the shipping dock. Counterfeiting, product diversion and thefts are on the rise and Brand Owners must deploy systems and technologies to provide visibility and control not only in the Supply Chain, but also in the entire Value Chain, from components and ingredients to the consumer.
The Life Science ecosystem must work collaboratively to shape strategies and practices to attain “On-Demand-Visibility” and control over Global Supply Networks. The extent of this global reality makes it nearly impossible for any individual organization or agency to accomplish this in a vacuum given the resource constraints in place today. To succeed, collaboration strategies must embrace reasonable and common sense approaches that can be broadly leveraged by all stakeholders.
The complete findings of this research study are available today in a new report entitled, “Global Supply Chain Visibility, Control & Collaboration: Business Imperative, Regulatory Necessity”.
To request a copy of this report, please visit http://www.axendia.com/2010_LS_GSC.html
This research study is co-sponsored by leading companies active in the Life-Sciences sector. They are (in alphabetical order): Camstar Systems Inc. (http://www.camstar.com), IBM (http://www.ibm.com), and PricewaterhouseCoopers (http://www.pwc.com). These companies are supporting this research to increase the understanding of processes and systems that enable global visibility and transparency across the Life-Sciences Value Chain.
NOTE TO EDITORS: The report, as well as specific charts and graphs of key findings from the research are available for your use with proper attribution. Please contact Lisa George at the email listed below.
About Axendia, Inc.
Axendia is a leading analyst and strategic advisory firm focused on the Life-Sciences and Healthcare markets. We provide trusted advice to industry Executives on Business, Regulatory, and Technology issues. Axendia professionals offer a unique combination of deep hands-on industry experience coupled with strategic vision.
Axendia serves the complete Life-Science ecosystem including Life-Science Organizations, Technology & Service Providers and the Investment community. Our clients range from startups to Fortune 100 companies. We contribute to our client’s success by providing long-range visibility and helping them navigate the ever-changing landscape in the Life-Sciences and Healthcare markets.
For more information, visit http://www.axendia.com or contact us at info(at)axendia(dot)com, read Axendia’s blog: Life-Science Panorama at http://LSP.axendia.com or follow us on Twitter at twitter.com/axendia.