The pharmaceutical industry is undergoing significant changes, including new drugs, manufacturing techniques, technologies, regulations, and priorities. The industry's procurement, logistics, and distribution networks need to adapt and evolve to add value and give the business a competitive edge. A key priority is to create an agile supply chain that is connected, real-time, traceable, and responsive to fluctuating demand. The paper outlines five strategies to help reinvent the life sciences and pharma supply chain, including changing fundamentals in the industry, optimizing costs, ensuring product safety and integrity, reducing stockouts and wastage, and making the supply chain a true business partner.
