The top 10 pharma supply chain trends in 2023: May news roundup

Creating Industry 4.0 for pharmaceutical manufacturing

First up in our May news roundup is an excellent article from Forbes on 'The new risk mitigations imperative for the pharmaceutical industry'. Industry 3.0 is no longer sufficient, with the pharmaceutical supply chain being heavily scrutinised over the past few years. A recent report in the International Journal of Pharmaceutics entitled "Industry 4.0 for pharmaceutical manufacturing: Preparing for the smart factories of the future" argues that pharmaceutical organisations must evolve to stay competitive. In particular, focus must be placed on data digitalisation and end-to-end traceability which facilitates the adherence to looming regulations and helps meet critical ESG targets.

On the topic of complying with regulations, the Drug Supply Chain Security Act (DSCSA) is mentioned as one such regulation, but it is noted that this is just the beginning. The importance of achieving supply chain digital maturity is emphasised as a means to mitigate risks faced by pharmaceutical companies. Additionally, various organizations such as GS1, the World Economic Forum (WEF), and the World Health Organisation (WHO) are providing guidance on developing traceability best practices in the healthcare sector. Non-compliance with these regulations can result in costly penalties and litigation, negatively impacting trust from healthcare providers, patients, watchdog groups, the media, financial institutions, and investors.

From reducing counterfeit products and drugs, to the rise of ESG and transparency expectations increasing globally, the Forbes article details what it will take to make the supply chain of the future. To learn more, read the full article here.

The top challenges facing the pharma supply chain in 2023

The next piece is an article from PM Live on the top challenges facing the supply chain in 2023. Many of the risks we saw in 2022 continue to be challenging in 2023. From continued pandemic-induced complexities to labour strikes and geopolitical tensions, heads of supply chain must be aware of the challenges that they face if they hope to create a resilient supply chain. In the PM Live article, they discuss the five key challenges facing the supply chain this year.

1. Ongoing economic instability could de-stabilise supply chain.

2. Geopolitical risk continues to subvert previously reliable supply networks.

3. Adopting a 'zero trust' cybersecurity model to better prepare organisations for threats in 2023.

4. The 'China plus one' strategy reshaping supply chains through regionalisation.

5. Climate risk represents a sustained danger to supply chains.

To read the full article, click here.

The top 10 trends in the pharma supply chain in 2023

We are almost halfway through 2023 already, and Forbes has put together a great article on the top 10 pharma supply chain trends in 2023 so far. The landscape in the industry is ever-changing, and the trends that we will see this year will go a long way to shaping the pharmaceutical supply chain in the coming years.

The first trend discussed is the increased adoption of 'Industry cloud' solutions built specifically for the pharmaceutical supply chain. These solutions are designed to speed up the migration of on-premises cloud solutions, which are at this moment in time preventing growth.

Unsurprisingly, enhanced digital ecosystem adoption is expected to continue, with the World Economic Forum stating that pharma organisations have the opportunity to tap into the 70% of the new value being created over the next decade by digital ecosystems.

As with most industries, AI is expected to transform the pharma supply chain. The technology is already impacting the industry from drug discovery to clinical trials. New generative AI platforms like ChatGPT are lowering the barriers of entry to using AI more many, and early signs are showing that adopting the use of these platforms is improving productivity, reducing costs, and enhancing prediction capabilities.

The article goes into detail on the above trends and more, so please feel free to check out the full piece by clicking here.