Patient data and analytics, improved supply strategies and cloud technology can help companies keep up with emerging industry challenges and opportunities.
As technologies enable rapid advancements and patients’ needs change, the traditional life sciences supply chain can no longer keep up with the emerging challenges and opportunities of the industry. Costs and inventory levels are up, regulatory controls are broadening, competition has increased and the pressure to expand into emerging markets is building.
On the pharma side of the house, it’s not the same old, small-molecule kind of chemically-based industry anymore. Patient therapies have grown increasingly complex, involving a convergence between products and services, and between different players within the healthcare value chain. Patient-centric therapies and personalized medicine are on the rise.
Add it all up and it means that the traditional supply chain model must evolve.
In contrast to traditional supply chain models, a patient-centric model senses and shapes demand across the healthcare ecosystem at a granular level—translating patient and treatment data into insights, patterns and signals that indicate what supply-side products and services are needed, when and where. This kind of network requires new levels of integration between the supply chain organization and commercial and financial processes.
To create a patient-centric value network, companies must design end-to-end fulfillment strategies and processes to ensure that products and services are delivered in a timely, safe and compliant manner into different markets. In order to achieve overall fulfillment strategies that ensure improved patient outcomes and business profitability, companies must use: appropriate network designs and inventory management strategies, flow path analyses, forecasting methods and analytics, replenishment processes, Big Data and predictive analytics, and transportation services.
Life sciences companies looking to implement a patient-centric value network should focus on several key factors and activities:
Along with these activities, life sciences companies will also need to:
Building a patient-centric supply chain will not be easy. But for companies willing to make the effort, a focus on patients’ needs and wants can spark new kinds of products, devices and treatments and ultimately lead to improved patient outcomes.
To learn more, download the report: Push to Pull: From Supply Chains to Patient-Centric Value Networks