Accelerate Innovation and Resilient Supply Chains in the Life Science Industry
The life science industry is constantly evolving, and companies are always looking for ways to improve their agility and productivity across all aspects of their business. Engineering, manufacturing, and supply chain are three critical areas that can make a significant impact on the success of a life science company, and there are several strategies that…
The life science industry is constantly evolving, and companies are always looking for ways to improve their agility and productivity across all aspects of their business. Engineering, manufacturing, and supply chain are three critical areas that can make a significant impact on the success of a life science company, and there are several strategies that can be implemented to improve these areas.
Key Challenges within the Life Sciences Industry
The concept of “supply chain management” has been known for decades, but the ability to effectively implement a strategy that meets business goals has been continually challenged, especially since the start of the global pandemic. The unprecedented disruption has shone a spotlight on critical weaknesses that need to be addressed.
- SUPPLY CHAIN RESILIENCE: Even mature organizations were caught off guard. Shortages of material, people and demand led to a complete breakdown of the supply chain in many cases.
- SUPPLY NETWORKS IN LIFE SCIENCES: Very few companies have truly vertically-integrated supply chains. Global organizations need to ensure an optimized supply chain to deal with disruption across a global network of raw material suppliers, contract manufacturers and quality testing service providers.
- DISRUPTION AS A CONSTANT: Although minor disruption is perpetual, potential “compounding” disruption was not anticipated. The pandemic impact was historic, but additional events like the blockage in the Suez Canal and Brexit had exaggerated the challenges, and others will follow.
- LACK OF VISIBILITY: Knowing where you are and what is happening across the supply chain in real time is needed to know how to try and course correct. For example, reduction in batch volumes per product due to the personalization of medicines requires easier access to information to monitor quality and to balance complex supply networks under a high degree of regulatory control. Very few companies have the visibility to the overall operational status in order to effectively develop a contingency plan with any confidence.
The Importance of Supply Chain Management
Organizations must not only survive disruption— they must also thrive and innovate. Here are four fundamental competencies that all future life science supply chains need to achieve.
- Visibility to the overall operational status of the supply chain will drastically help manufacturers in the pharma industry to effectively develop contingency plans with confidence Traceability for each step of the production and its processes will help companies achieve regulatory compliance and meet the quality expectations for customers.
- Agility applies to production processes, workforce and equipment utilization and the decision-making process. It depends upon an understanding of what is happening and evaluating possible plans to determine the best course of action moving forward.
- Resiliency adds an ability to endure disruption and then recover quickly. It also requires understanding and the knowledge to create longer term strategies so that viable options are available when challenges occur.
How can Life Science Organizations before Agile and Resilient?
These competencies need to be developed through effective application and implementation of people, process and technology. When all three are considered together, organizations can not only provide a foundation for the new normal but also unlock new levels of innovation and develop a truly sustainable business environment.
One of the most effective ways to improve agility and productivity in engineering is to embrace new technologies. Automation, robotics, and advanced software solutions can help streamline processes and reduce the risk of errors. Companies are also integrating Internet of Things (IoT) devices and sensors into manufacturing processes which allows for real-time monitoring of production lines, equipment performance, and product quality. This data-driven approach not only enhances productivity but also helps in identifying potential issues early, reducing downtime and waste.
Within the supply chain, collaboration and communication are key. By working closely with suppliers and customers, life science companies can improve their responsiveness and ensure that they are meeting the needs of all stakeholders. Implementing supply chain visibility solutions can also help improve agility by providing real-time visibility into inventory levels, shipping status, and other critical information. This is where the DELMIA steps in.
Driving Supply Chain Resilience and Agility with DELMIA
The path to supply chain innovation and integrated business planning is available now for organizations that are seeking new answers and solutions to today’s challenges and disruptions. With DELMIA, it is possible to start taking steps to build foundational processes and infrastructure within critical areas of business, from high-level supply chain strategy to manufacturing, logistics and for workforce planning.
DELMIA can support organizations with their major supply chain initiatives:
- Enabling sustainable business operations by optimizing critical resources, people and energy
- Building resilient supply chains by empowering companies to confidently plan for the future and react instantly to disruptions
- Achieving business-based outcomes by enabling integrated business planning that optimizes financial and corporate goals
Improving agility and productivity across engineering, manufacturing, and supply chain is critical for success in the life science industry. By embracing new technologies, focusing on lean principles, and prioritizing collaboration and communication, companies can position themselves for long-term success and growth.
Read our E-book to learn more about Accelerate Innovation and Resilient Supply Chains for Life Science