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Life Sciences companies can achieve compliance mastery by managing supply chains with stringent key performance indicators and metrics-guided processes to ensure timely delivery of high-quality and compliant products.
Effective governance can help Life Sciences companies control compliance costs, reduce the risk of fines and penalties for compliance missteps, reduce outbound and inbound customs clearance delays, and protect brand and image.
Accenture recommends that companies can achieve mastery in compliance by:
Creating a chief compliance officer position to help raise performance in compliance, increase process standardization, and maximize the consistency and dissemination of information.
Emphasizing end-to-end supply chain integration to confirm product integrity, reduce security risks and raise adherence to mandatory data storage requirements.
Automating trade compliance activities and compliance-related interfaces with authorities.
Developing a continuous monitoring and interpretation capability for regulations that affect product licensing, authorization, labeling and distribution practices.
Increasing security controls and efforts associated with cold chain tracking, tracing and monitoring.
Find out about the other pillars of logistics mastery for Life Sciences:
Inventory and order management
Read the full point of view—How Excellence in Logistics Can Change the Fortunes of Pharmaceutical and Medical Device Companies
April 8, 2013
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