In the course of our research for IBM’s inaugural Global Chief Supply Chain Officer Study, we conducted face-to-face interviews with nearly 400 senior supply chain executives from 25 countries and 29 different industries.
Here, we focus on the responses of the 23 supply chain executives from the Life Sciences industry (see sidebar, Survey sample).
Endüstri Mühendisliği - Yöneylem teknikleriyle Sağlık Tedarik Zinciri Modellemesidir. Maalesef dünya bu yöntemleri taşıyacak kadar deterministik değildir. Zaten sonraki aşamada fiili model denemesi planlanmış.
This document discusses how hospital supply chains can transform from basic models focused on operations to more advanced models that balance costs, efficiency, and quality of care. It identifies three key enablers of transformation: collaborative governance structures involving clinicians, streamlined supply chain processes, and integrated IT systems. A case study highlights how one healthcare system achieved cost savings through strategic sourcing, a distribution center, and technology like barcoding medications.
This document summarizes challenges in managing component obsolescence for aerospace and defense products with long lifecycles. It discusses how constant innovation driven by Moore's Law leads to frequent component discontinuations. It outlines options for dealing with obsolescence like buying excess components, redesigning, or qualifying alternate sources. It also discusses how original component manufacturers closely guard lifecycle information and outlines the tiered system of component suppliers from franchised distributors with direct OCM relationships to open market sellers. The document advocates an enterprise risk management approach and collaboration with trusted suppliers to better understand and mitigate obsolescence risks.
The document discusses research conducted by UPS and IDC on operational transformation in the manufacturing industry. The research found that while most companies use Lean/Six Sigma approaches, the increasing demands of customers have tested the limits of these methods. To achieve higher levels of operational excellence, companies must leverage new technologies like IoT and analytics (smart operations) to gain greater insights from data in real-time. The research showed that companies aggressively pursuing smart operations investments were better positioned for success and had made more progress in areas like connected products/assets and supply chain decision-making. Those lagging risk falling further behind industry leaders in competitiveness.
Reliability, quality and a competitive price are table stakes in
the business of maintaining and repairing industrial facilities
and equipment, commonly known as Maintenance, Repair
and Operations (MRO). Given the nature of MRO, urgency can
often catapult to the top of the list of requirements. Sellers
who cannot consistently come through will almost certainly
be dropped from future consideration.
Digital transformation of supply chain in pharmaNeeraj Shah
Digital transformation of the bio-pharmaceutical supply chain is critical due to rising costs, regulatory scrutiny, and a complex product portfolio. This presentation outlines a 7-step roadmap for digital transformation: 1) establish urgency, 2) form a change coalition, 3) establish a vision, 4) engage change champions, 5) communicate the vision, 6) identify capabilities and enablers, and 7) develop an execution roadmap. The roadmap involves assessing the current state, envisioning the future state, prioritizing gaps, and planning initiatives to address gaps through a multi-year roadmap. The goal is to create an integrated, data-driven, scalable supply chain to support growth and cost optimization.
Complaints Management: Integrating and Automating the ProcessCognizant
Manufacturers of medical devices are highly regulated and serve various types of customers. Today, these companies can take advantage of a cloud-based, integrated platform, Cognizant's MedVantage(TM), to manage and resolve customer complaints and connect with them throughout the complaints-management life cycle.
Endüstri Mühendisliği - Yöneylem teknikleriyle Sağlık Tedarik Zinciri Modellemesidir. Maalesef dünya bu yöntemleri taşıyacak kadar deterministik değildir. Zaten sonraki aşamada fiili model denemesi planlanmış.
This document discusses how hospital supply chains can transform from basic models focused on operations to more advanced models that balance costs, efficiency, and quality of care. It identifies three key enablers of transformation: collaborative governance structures involving clinicians, streamlined supply chain processes, and integrated IT systems. A case study highlights how one healthcare system achieved cost savings through strategic sourcing, a distribution center, and technology like barcoding medications.
This document summarizes challenges in managing component obsolescence for aerospace and defense products with long lifecycles. It discusses how constant innovation driven by Moore's Law leads to frequent component discontinuations. It outlines options for dealing with obsolescence like buying excess components, redesigning, or qualifying alternate sources. It also discusses how original component manufacturers closely guard lifecycle information and outlines the tiered system of component suppliers from franchised distributors with direct OCM relationships to open market sellers. The document advocates an enterprise risk management approach and collaboration with trusted suppliers to better understand and mitigate obsolescence risks.
The document discusses research conducted by UPS and IDC on operational transformation in the manufacturing industry. The research found that while most companies use Lean/Six Sigma approaches, the increasing demands of customers have tested the limits of these methods. To achieve higher levels of operational excellence, companies must leverage new technologies like IoT and analytics (smart operations) to gain greater insights from data in real-time. The research showed that companies aggressively pursuing smart operations investments were better positioned for success and had made more progress in areas like connected products/assets and supply chain decision-making. Those lagging risk falling further behind industry leaders in competitiveness.
Reliability, quality and a competitive price are table stakes in
the business of maintaining and repairing industrial facilities
and equipment, commonly known as Maintenance, Repair
and Operations (MRO). Given the nature of MRO, urgency can
often catapult to the top of the list of requirements. Sellers
who cannot consistently come through will almost certainly
be dropped from future consideration.
Digital transformation of supply chain in pharmaNeeraj Shah
Digital transformation of the bio-pharmaceutical supply chain is critical due to rising costs, regulatory scrutiny, and a complex product portfolio. This presentation outlines a 7-step roadmap for digital transformation: 1) establish urgency, 2) form a change coalition, 3) establish a vision, 4) engage change champions, 5) communicate the vision, 6) identify capabilities and enablers, and 7) develop an execution roadmap. The roadmap involves assessing the current state, envisioning the future state, prioritizing gaps, and planning initiatives to address gaps through a multi-year roadmap. The goal is to create an integrated, data-driven, scalable supply chain to support growth and cost optimization.
Complaints Management: Integrating and Automating the ProcessCognizant
Manufacturers of medical devices are highly regulated and serve various types of customers. Today, these companies can take advantage of a cloud-based, integrated platform, Cognizant's MedVantage(TM), to manage and resolve customer complaints and connect with them throughout the complaints-management life cycle.
Effective Complaint Management: The Key to a Competitive Edge for Medical Dev...Cognizant
By establishing strong complaint management processes, medical device firms can make continuous improvements in patient safety, regulatory compliance and customer satisfaction.
Is your company ready to meet today’s challenges?Lidia Gasparotto
Visit us online at:
www.ibm.com/electronics/medicaldevices
Is your company ready to meet today’s challenges?
Ask yourself the following questions:
Are your products linked to clinical information systems? •
Is your supply chain optimized to track inventory, handle complaints and •
recalls and manage assets?
Can you comply efficiently with divergent security and privacy regula- •
tions?
Does your company get new products to market as quickly as your •
competitors?
Are your operations efficient and profitable? •
Does your company’s IT environment facilitate the formation of strategic •
alliances with insurance companies, HMOs, hospital buying groups and
supply chain logistics companies?
Can you reduce your tax liabilities through the use of commissionaires?
IBM has developed and refined the tools you need.
Compliance With Udi Labeling Mandates A Proven MethodologyLoftware
There has never been a better or more urgent time for manufacturers of healthcare products to make a close examination of their product labeling systems. Why? Because in most cases, existing solutions were developed over time, usually organically and often departmentally, individually and separately by each manufacturing entity to a labeling standard of their own choice. This approach has mostly worked, albeit at great expense, with much inefficiency, and at the tremendous risk of error, manufacturing interruptions, counterfeit labels and a host of other problems. But in addition to these well-known limitations, there is one additional major reason why now is a good time to explore labeling solution alternatives. New labeling mandates from the FDA – now expected to be imposed no later than September, 2013 – are going to require all healthcare products manufacturers in the United States to adhere to a uniform set of Unique Device Identification (UDI) labeling standards. This means that proprietary labels and any labels that are not part of a universally-accessible database for common use by all other manufacturers and at all checkpoints in any supply chain will, virtually overnight, be a thing of the past in the United States. In fact, it is likely the FDA initiative will further drive the global effort occurring at this time to effect this same kind of UDI solution worldwide.
How to Add Agility and Customer Focus to the Healthcare Supply ChainUPS Longitudes
The global pharmaceutical and healthcare industry has
experienced a number of severe shocks to the system in
recent decades. What was once a sector where profits flowed
from ‘blockbuster’ drugs and a customer base willing to
pay premium prices has transformed into a quite different
world as a consequence of competition from generics along
with reduced budgets available to healthcare providers.
Compounding these problems are increasing regulatory
constraints and more challenging logistics requirements as
bio-pharmaceuticals and related products increase the need
for stricter control of temperature and shelf-life as they move
through the supply chain.
As a result there is now a significantly greater focus across
the sector on supply chain management. Previously, when
margins were higher and logistics costs were a relatively
small proportion of total costs, supply chain issues tended
to take a back seat. Now things have changed. Recent
research by UPS® has highlighted that many companies are
finding it difficult to develop supply chain capabilities that
can simultaneously take out costs whilst ensuring regulatory
compliance, track and trace, product security and stricter
temperature and shelf-life control.
Because of these pressures, a new approach to the design
and management of supply/demand networks in the industry
becomes imperative. In today’s marketplace, there is a need
for supply chains that are cost-effective, efficient and agile.
Companies operating in every industrial sector and in
every market around the world have been confronted in
recent years with significant challenges. These challenges
have come from numerous sources – economic recession,
demographic changes, geo-political upheavals to name but
a few. The healthcare and pharmaceutical industry has been
no exception and has been impacted by major changes in the
competitive and market environment.
Original article from the Flevy business blog can be found here:
http://flevy.com/blog/building-resilience-into-supply-chains/
The supply chains of most companies, large and small, exploit a world of opportunities. But, increasing global exposure comes with an increasing range of risks. These companies’ complex networks of suppliers and customers are as diverse as the goods and resources they manage. Within the same supply chain, giant multinational companies can sit side-by side with small to medium enterprises (SMEs). Yet, among companies large and small, there is growing awareness that extreme weather and a changing climate pose new risks and opportunities to old ways of doing business.
Smart businesses know how to manage uncertainty. As their exposure to extreme weather increases, informed businesses are incorporating the risk of extreme weather into existing risk management. Meanwhile, business continuity planning is growing to embrace the need to think about how a changing climate impacts on business.
Worldwide companies are increasingly aware that their supply chains are exposed to greater weather extremes. International competition and cheap transportation have led to expansive supply chains linked by complex logistics, multiplying risks to business continuity. The Business Continuity Institute’s latest Horizon Scanning Survey, with results from 700 organizations in 62 countries, found 53% of the survey respondents were either ‘extremely concerned’ or ‘concerned’ about the impacts of adverse weather on their businesses (BCI 2013). Business leaders are now urging companies to think about climate change (Business Green, 2013).
This document discusses eight strategies for implementing concept-to-customer supply chain management. The concept-to-customer approach views a company's supply chain across three dimensions: internal, external, and customer. The eight strategies are: 1) dynamically adjusting networks, 2) taking a global view of demand, 3) working the supply network, 4) boosting asset productivity, 5) collaborating across the supply chain, 6) gaining end-to-end visibility, 7) responding in real-time, and 8) measuring performance across the entire chain. Implementing these strategies helps companies establish resilient supply chains that can adapt to business dynamics and focus on customers.
Medical device companies struggle with CAPA compliance due to fragmented and manual systems. An effective CAPA system requires planning, integrated data sources, risk-based prioritization of issues, and trend analysis. It also needs employee training and management processes to monitor performance and drive accountability. A comprehensive electronic CAPA management system can help companies achieve compliance by connecting people, procedures, and data across the organization.
This document discusses how companies can transform their supply chains to be more agile, adaptable and aligned. It emphasizes that the best supply chains are not just fast and efficient, but can also quickly respond to unexpected changes in demand or supply. It outlines strategies for companies to achieve the characteristics of a "Triple-A Supply Chain" through agility, adaptability and alignment. This includes closely monitoring markets, outsourcing where possible, understanding how product design impacts supply chains, and building collaboration and shared responsibility among partners. The document also introduces the BeLean approach which uses Lean and Six Sigma practices to help companies optimize supply chain transformation through reducing complexity.
RFID Based Warehouse Management of Perishable ProductsIOSR Journals
Abstract: The changing global market scenario, high level of competition, and faster obsolescence of
perishable products due to short self life and changing customer demand are among the key challenges faced by
perishable supply chains. Supply chains need to compete with growing variety of products, short delivery time,
higher cycle service level, high quality and lower cost. Perishability imposes an intense pressure on managers
as it adds an additional cost of disposal of outdated items, leading to out-of-stock situations and also loss of
company faith. These problems are arising mostly due to the lack of information at every stage of the supply
chains. The inadequate information about product quality, quantity, demand variability, product availability
and lead times creates the bullwhip effect (BWE) at all stages and chains leads to the mismanagement.
RFID technologies, with the appropriate IT infrastructure, would help major distributors and manufacturers, as
well as health-care system, defence industries, and global supply chains in which products and product
shipments must be traced and identified in a non-contact, wireless fashion using a computer network. This
paper presents the impact of RFID in warehouse management of perishable products. It provides mathematical
framework to asses the benefits of RFID in warehouse management. It helps management in the variety of ways
including improvement in receiving and shipping processes, reduction in cycle counting efforts, reduction in
stock outs/excess inventory, decreased counterfeiting, decreased returns, and reduction in inventory loss due to
shrinkage and obsolescence. A sensitivity analysis has been presented at the end of paper which shows the
compound effect of RFID, reduction in lead time and lead time variability. In all scenarios inventory level is
reduced by certain percentage by incorporating RFID.
Keywords— Supply chain management, Perishable product, Inventory, RFID, Warehouse.
Enterprise Labeling for the Medical Device IndustryLoftware
IT’S TIME FOR POWERFUL NEW SOLUTIONS IN MEDICAL
DEVICE LABELING. For medical device manufacturers, labeling is growing in importance, and there are a number of reasons why.
The report finds that China's export manufacturing sector continues to slow as headwinds both domestically and abroad intensify. Competition is expected to further increase this year while customer loyalty remains low. A lower price is the least important factor for customers considering new suppliers, suggesting manufacturers need to focus on quality over cost reduction. To survive in this challenging environment, the report argues exporters must strengthen knowledge of customer needs, develop more collaborative partnerships, and deliver tailored logistics solutions, as outlined in UPS's Made in China 2.0 reform agenda.
The document discusses lean supply chains and some of the key considerations for organizations. It defines lean as doing more with less and supply chain as connecting suppliers, manufacturers, delivery services and customers. Implementing lean principles within a supply chain allows organizations to more efficiently respond to customer needs. However, a lack of cooperation among participating companies can result in a supply chain that is not truly lean. The document outlines some important aspects of lean supply chains such as customer value, demand volatility management, system thinking, and using metrics from a systems perspective.
Batch Manufacturers Require More Robust, Dock-to-Dock Control SystemsARC Advisory Group
Aware of the many choices in products and services, the consumer is conscious
of product price to value and demanding increased product quality,
safety, variety, and convenience. Most industries with batch manufacturing
processes are consolidating, requiring fewer plants to produce an
increased variety of products.
To survive, businesses that employ batch control processes must maximize
return on their assets while satisfying constantly changing consumer demands.
New government regulations continue to increase business costs.
Business and manufacturing process automation and integration have become
critical to business success.
While the functionality and standardization of commercial
off-the-shelf batch control systems has
increased dramatically in the last few years, they still
lack functionality needed to meet current and future
business requirements in the fine chemical, pharmaceutical,
food, and beverage industries. Standards
have been rapidly evolving and suppliers continue to
increase functionality needed to meet user business
requirements. Manufacturers in these industries can now develop an
automation strategy to meet current and future business needs using standard
products based on standards and not limited by technology.
Dell's direct sales model allows it to gather customer requirements directly and build customized computer configurations based on available components. This reduces costs for Dell and customers by eliminating intermediaries. Dell is able to better manage its supply chain and plan for the future based on direct customer feedback. Supply chain management provides benefits like increased demand accuracy, reduced inventory levels, and greater profitability when companies adopt successful strategies. Leading companies involve suppliers in environmental initiatives to generate benefits and satisfy stakeholders. ABC analysis is an inventory technique that categorizes items into A, B, and C classes based on value to help managers prioritize resources.
This document provides an overview of supply chain management (SCM). It defines SCM as coordinating and integrating all activities from sourcing to consumption to deliver enhanced customer value through synchronized management of physical goods and information flow. The importance of SCM is described as enabling companies to get products to customers faster than competitors to gain a competitive advantage. An example is given of how analyzing and improving processes throughout the supply chain can reduce order to delivery cycle times.
Given the stringent regulatory requirements in the health care industry, it is important for bio-pharmal companies to develop innovative Risk Evaluation and Mitigation Strategies (REMS) plans during the commercialization of certain products to ensure an acceptable risk-to-benefit ratio.
This benchmark study published by Best Practices, LLC examines how companies develop and execute successful Risk Evaluation and Mitigation Strategies (REMS) plans for newly-approved drugs in the U.S. market. This study can help bio-pharma companies in creating successful REMS programs.
Download Full Report: http://bit.ly/2aOt5Id
This document provides information on managing a hospital's charge description master (CDM), which is the hospital's pricing catalog for billing procedures, services, and supplies. It discusses the definition and uses of the CDM, maintenance and review processes, integration with other systems, performing charge capture reviews, and regulatory expectations. The speaker is from Navigant Consulting and provides consulting services to help hospitals improve revenue cycle performance and billing compliance.
The document discusses using inventory modeling to develop a holistic inventory strategy. It describes how companies aim to improve service levels while reducing inventory levels, but it is difficult to do both simultaneously without modeling. The document outlines factors like demand variability, supply chain complexity, different types of inventory levels, and demand patterns that must be considered in developing an effective inventory strategy. It provides an example of how modeling helped a manufacturer optimize inventory levels at dealers and distribution centers.
McKinsey Sağlık Tedarik Zinciriyle, FMCG Tedarik Zinciri karşılaştırıyor. Sağlık Tedarik Zincirindeki iyileştirme fırsatına ve toplumsal boyutuna dikkat çekiyor.
Effective Complaint Management: The Key to a Competitive Edge for Medical Dev...Cognizant
By establishing strong complaint management processes, medical device firms can make continuous improvements in patient safety, regulatory compliance and customer satisfaction.
Is your company ready to meet today’s challenges?Lidia Gasparotto
Visit us online at:
www.ibm.com/electronics/medicaldevices
Is your company ready to meet today’s challenges?
Ask yourself the following questions:
Are your products linked to clinical information systems? •
Is your supply chain optimized to track inventory, handle complaints and •
recalls and manage assets?
Can you comply efficiently with divergent security and privacy regula- •
tions?
Does your company get new products to market as quickly as your •
competitors?
Are your operations efficient and profitable? •
Does your company’s IT environment facilitate the formation of strategic •
alliances with insurance companies, HMOs, hospital buying groups and
supply chain logistics companies?
Can you reduce your tax liabilities through the use of commissionaires?
IBM has developed and refined the tools you need.
Compliance With Udi Labeling Mandates A Proven MethodologyLoftware
There has never been a better or more urgent time for manufacturers of healthcare products to make a close examination of their product labeling systems. Why? Because in most cases, existing solutions were developed over time, usually organically and often departmentally, individually and separately by each manufacturing entity to a labeling standard of their own choice. This approach has mostly worked, albeit at great expense, with much inefficiency, and at the tremendous risk of error, manufacturing interruptions, counterfeit labels and a host of other problems. But in addition to these well-known limitations, there is one additional major reason why now is a good time to explore labeling solution alternatives. New labeling mandates from the FDA – now expected to be imposed no later than September, 2013 – are going to require all healthcare products manufacturers in the United States to adhere to a uniform set of Unique Device Identification (UDI) labeling standards. This means that proprietary labels and any labels that are not part of a universally-accessible database for common use by all other manufacturers and at all checkpoints in any supply chain will, virtually overnight, be a thing of the past in the United States. In fact, it is likely the FDA initiative will further drive the global effort occurring at this time to effect this same kind of UDI solution worldwide.
How to Add Agility and Customer Focus to the Healthcare Supply ChainUPS Longitudes
The global pharmaceutical and healthcare industry has
experienced a number of severe shocks to the system in
recent decades. What was once a sector where profits flowed
from ‘blockbuster’ drugs and a customer base willing to
pay premium prices has transformed into a quite different
world as a consequence of competition from generics along
with reduced budgets available to healthcare providers.
Compounding these problems are increasing regulatory
constraints and more challenging logistics requirements as
bio-pharmaceuticals and related products increase the need
for stricter control of temperature and shelf-life as they move
through the supply chain.
As a result there is now a significantly greater focus across
the sector on supply chain management. Previously, when
margins were higher and logistics costs were a relatively
small proportion of total costs, supply chain issues tended
to take a back seat. Now things have changed. Recent
research by UPS® has highlighted that many companies are
finding it difficult to develop supply chain capabilities that
can simultaneously take out costs whilst ensuring regulatory
compliance, track and trace, product security and stricter
temperature and shelf-life control.
Because of these pressures, a new approach to the design
and management of supply/demand networks in the industry
becomes imperative. In today’s marketplace, there is a need
for supply chains that are cost-effective, efficient and agile.
Companies operating in every industrial sector and in
every market around the world have been confronted in
recent years with significant challenges. These challenges
have come from numerous sources – economic recession,
demographic changes, geo-political upheavals to name but
a few. The healthcare and pharmaceutical industry has been
no exception and has been impacted by major changes in the
competitive and market environment.
Original article from the Flevy business blog can be found here:
http://flevy.com/blog/building-resilience-into-supply-chains/
The supply chains of most companies, large and small, exploit a world of opportunities. But, increasing global exposure comes with an increasing range of risks. These companies’ complex networks of suppliers and customers are as diverse as the goods and resources they manage. Within the same supply chain, giant multinational companies can sit side-by side with small to medium enterprises (SMEs). Yet, among companies large and small, there is growing awareness that extreme weather and a changing climate pose new risks and opportunities to old ways of doing business.
Smart businesses know how to manage uncertainty. As their exposure to extreme weather increases, informed businesses are incorporating the risk of extreme weather into existing risk management. Meanwhile, business continuity planning is growing to embrace the need to think about how a changing climate impacts on business.
Worldwide companies are increasingly aware that their supply chains are exposed to greater weather extremes. International competition and cheap transportation have led to expansive supply chains linked by complex logistics, multiplying risks to business continuity. The Business Continuity Institute’s latest Horizon Scanning Survey, with results from 700 organizations in 62 countries, found 53% of the survey respondents were either ‘extremely concerned’ or ‘concerned’ about the impacts of adverse weather on their businesses (BCI 2013). Business leaders are now urging companies to think about climate change (Business Green, 2013).
This document discusses eight strategies for implementing concept-to-customer supply chain management. The concept-to-customer approach views a company's supply chain across three dimensions: internal, external, and customer. The eight strategies are: 1) dynamically adjusting networks, 2) taking a global view of demand, 3) working the supply network, 4) boosting asset productivity, 5) collaborating across the supply chain, 6) gaining end-to-end visibility, 7) responding in real-time, and 8) measuring performance across the entire chain. Implementing these strategies helps companies establish resilient supply chains that can adapt to business dynamics and focus on customers.
Medical device companies struggle with CAPA compliance due to fragmented and manual systems. An effective CAPA system requires planning, integrated data sources, risk-based prioritization of issues, and trend analysis. It also needs employee training and management processes to monitor performance and drive accountability. A comprehensive electronic CAPA management system can help companies achieve compliance by connecting people, procedures, and data across the organization.
This document discusses how companies can transform their supply chains to be more agile, adaptable and aligned. It emphasizes that the best supply chains are not just fast and efficient, but can also quickly respond to unexpected changes in demand or supply. It outlines strategies for companies to achieve the characteristics of a "Triple-A Supply Chain" through agility, adaptability and alignment. This includes closely monitoring markets, outsourcing where possible, understanding how product design impacts supply chains, and building collaboration and shared responsibility among partners. The document also introduces the BeLean approach which uses Lean and Six Sigma practices to help companies optimize supply chain transformation through reducing complexity.
RFID Based Warehouse Management of Perishable ProductsIOSR Journals
Abstract: The changing global market scenario, high level of competition, and faster obsolescence of
perishable products due to short self life and changing customer demand are among the key challenges faced by
perishable supply chains. Supply chains need to compete with growing variety of products, short delivery time,
higher cycle service level, high quality and lower cost. Perishability imposes an intense pressure on managers
as it adds an additional cost of disposal of outdated items, leading to out-of-stock situations and also loss of
company faith. These problems are arising mostly due to the lack of information at every stage of the supply
chains. The inadequate information about product quality, quantity, demand variability, product availability
and lead times creates the bullwhip effect (BWE) at all stages and chains leads to the mismanagement.
RFID technologies, with the appropriate IT infrastructure, would help major distributors and manufacturers, as
well as health-care system, defence industries, and global supply chains in which products and product
shipments must be traced and identified in a non-contact, wireless fashion using a computer network. This
paper presents the impact of RFID in warehouse management of perishable products. It provides mathematical
framework to asses the benefits of RFID in warehouse management. It helps management in the variety of ways
including improvement in receiving and shipping processes, reduction in cycle counting efforts, reduction in
stock outs/excess inventory, decreased counterfeiting, decreased returns, and reduction in inventory loss due to
shrinkage and obsolescence. A sensitivity analysis has been presented at the end of paper which shows the
compound effect of RFID, reduction in lead time and lead time variability. In all scenarios inventory level is
reduced by certain percentage by incorporating RFID.
Keywords— Supply chain management, Perishable product, Inventory, RFID, Warehouse.
Enterprise Labeling for the Medical Device IndustryLoftware
IT’S TIME FOR POWERFUL NEW SOLUTIONS IN MEDICAL
DEVICE LABELING. For medical device manufacturers, labeling is growing in importance, and there are a number of reasons why.
The report finds that China's export manufacturing sector continues to slow as headwinds both domestically and abroad intensify. Competition is expected to further increase this year while customer loyalty remains low. A lower price is the least important factor for customers considering new suppliers, suggesting manufacturers need to focus on quality over cost reduction. To survive in this challenging environment, the report argues exporters must strengthen knowledge of customer needs, develop more collaborative partnerships, and deliver tailored logistics solutions, as outlined in UPS's Made in China 2.0 reform agenda.
The document discusses lean supply chains and some of the key considerations for organizations. It defines lean as doing more with less and supply chain as connecting suppliers, manufacturers, delivery services and customers. Implementing lean principles within a supply chain allows organizations to more efficiently respond to customer needs. However, a lack of cooperation among participating companies can result in a supply chain that is not truly lean. The document outlines some important aspects of lean supply chains such as customer value, demand volatility management, system thinking, and using metrics from a systems perspective.
Batch Manufacturers Require More Robust, Dock-to-Dock Control SystemsARC Advisory Group
Aware of the many choices in products and services, the consumer is conscious
of product price to value and demanding increased product quality,
safety, variety, and convenience. Most industries with batch manufacturing
processes are consolidating, requiring fewer plants to produce an
increased variety of products.
To survive, businesses that employ batch control processes must maximize
return on their assets while satisfying constantly changing consumer demands.
New government regulations continue to increase business costs.
Business and manufacturing process automation and integration have become
critical to business success.
While the functionality and standardization of commercial
off-the-shelf batch control systems has
increased dramatically in the last few years, they still
lack functionality needed to meet current and future
business requirements in the fine chemical, pharmaceutical,
food, and beverage industries. Standards
have been rapidly evolving and suppliers continue to
increase functionality needed to meet user business
requirements. Manufacturers in these industries can now develop an
automation strategy to meet current and future business needs using standard
products based on standards and not limited by technology.
Dell's direct sales model allows it to gather customer requirements directly and build customized computer configurations based on available components. This reduces costs for Dell and customers by eliminating intermediaries. Dell is able to better manage its supply chain and plan for the future based on direct customer feedback. Supply chain management provides benefits like increased demand accuracy, reduced inventory levels, and greater profitability when companies adopt successful strategies. Leading companies involve suppliers in environmental initiatives to generate benefits and satisfy stakeholders. ABC analysis is an inventory technique that categorizes items into A, B, and C classes based on value to help managers prioritize resources.
This document provides an overview of supply chain management (SCM). It defines SCM as coordinating and integrating all activities from sourcing to consumption to deliver enhanced customer value through synchronized management of physical goods and information flow. The importance of SCM is described as enabling companies to get products to customers faster than competitors to gain a competitive advantage. An example is given of how analyzing and improving processes throughout the supply chain can reduce order to delivery cycle times.
Given the stringent regulatory requirements in the health care industry, it is important for bio-pharmal companies to develop innovative Risk Evaluation and Mitigation Strategies (REMS) plans during the commercialization of certain products to ensure an acceptable risk-to-benefit ratio.
This benchmark study published by Best Practices, LLC examines how companies develop and execute successful Risk Evaluation and Mitigation Strategies (REMS) plans for newly-approved drugs in the U.S. market. This study can help bio-pharma companies in creating successful REMS programs.
Download Full Report: http://bit.ly/2aOt5Id
This document provides information on managing a hospital's charge description master (CDM), which is the hospital's pricing catalog for billing procedures, services, and supplies. It discusses the definition and uses of the CDM, maintenance and review processes, integration with other systems, performing charge capture reviews, and regulatory expectations. The speaker is from Navigant Consulting and provides consulting services to help hospitals improve revenue cycle performance and billing compliance.
The document discusses using inventory modeling to develop a holistic inventory strategy. It describes how companies aim to improve service levels while reducing inventory levels, but it is difficult to do both simultaneously without modeling. The document outlines factors like demand variability, supply chain complexity, different types of inventory levels, and demand patterns that must be considered in developing an effective inventory strategy. It provides an example of how modeling helped a manufacturer optimize inventory levels at dealers and distribution centers.
McKinsey Sağlık Tedarik Zinciriyle, FMCG Tedarik Zinciri karşılaştırıyor. Sağlık Tedarik Zincirindeki iyileştirme fırsatına ve toplumsal boyutuna dikkat çekiyor.
Pharmaceutical Supply Chains Require New Operational and Technology Models to...Cognizant
The pharmaceutical supply chain requires new operational and technology models to enable collaboration and efficiency. Pharmaceutical companies face slowed growth, industry pressures, and declining margins. They must embrace demand-chain thinking and cloud solutions to share real-time data with partners. This will help manage unpredictable demand, gain inventory visibility, and serve diverse markets. Cloud platforms can provide a common space for stakeholders to connect and share data, fostering transparency and accountability.
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Supply Chain Management: Life Sciences EditionIBM HealthCare
Read responses from 23 supply chain executives from the Life Sciences industry as part of IBM's Global Chief Supply Chain Officer Study that focused on 400 face-to-face interviews with senior executives from 25 countries and 29 different industries.
Supply Chain Metrics That Matter: Improving Supply Chain Resiliency - 18 MAR ...Lora Cecere
Executive Overview
Ask any supply chain leader which metrics are the most important to deliver, and the most common answers are operating margin, inventory turns, and revenue growth. In our plotting of industry results for the Supply Chain Metrics That Matter reports, we could see that certain industries had greater variation at the intersection of operating margin and inventory turns than others. We wanted to know why.
The supply chain is a complex system. It is growing even more so. Supply chain leaders are charged to deliver reliable results on The Effective Frontier for costs and inventory cycles. Failure to do so can result in termination. The Effective Frontier is depicted in Figure 1.
It is a juggling act. There are finite trade-offs and the metrics are interrelated. Each company is operating at a different potential. A new technology can elevate the frontier and improve the company’s ability to operate at a higher level of performance. Often when companies attempt to drive down costs they will elevate inventory. When complexity increases, it can have an adverse effect on both operating margin and inventory turns. It is a continuous balancing act which has been made easier through the evolution of Advanced Planning Systems (APS).
Progress happens in small increments. It happens over the period of many years (three to five). We believe that reliability of results at the intersection of operating margin and inventory turns is a characteristic of supply chain excellence.
We are trying to understand who’s done it best. It is for this reason that we have been studying these patterns for the last two years. What can we see? Over the last decade, industry progress has been quite different. In Table 1, we list the performance of five industries (The industries are listed from the most to the least profitable as measured by operating margin). Companies have become more efficient, but not necessarily more effective. Note in this table that all manufacturing industries have significantly improved revenue per employee, but only one of the industries has improved both operating margins and inventory turns.
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Survey Details: The research for this report was conducted from February 12 - October 8, 2015. Surveys were conducted among Manufacturers, Retailers, and Wholesalers/Distributors/Co-operatives with $250M+ in revenue and who use (and are familiar with) inventory optimization software (n=64). Respondents were evenly split between those using basic (ERP or ERP+APS) and advanced (software in addition to ERP/APS) software. All surveys were conducted by Supply Chain Insights.
Objective: To understand the impact of inventory optimization software on supply chain excellence. NOTE: inventory optimization software was defined as "any form of ERP (Enterprise Resource Planning), APS (Advanced Planned Software), or sophisticated inventory planning tools."
Highlight: Companies who use advanced software are more likely to be satisfied with their software, to be effective at making inventory decisions and to drive a return on investment for their software.
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1. Outline three different applications and explain the utilizatio.docxpaynetawnya
1. Outline three different applications and explain the utilization of information systems in the healthcare supply chain.
2. Discuss and give three examples of the different uses of information systems and technology of those systems in the operation of the supply chain.
3. Relate, discuss and provide two examples where information systems in the healthcare supply chain provide the availability of performance metrics and statistics to inform decision making for improved efficiency, effectiveness and efficacy of the supply operation in the healthcare organization.
4. Distinguish the functional areas two different aspects of information systems, such as sourcing, EDI, vendor management, warehousing/storage and dispensing to points of care with regard to the healthcare supply chain.
5. Relate one business operation such as warehousing or storing or dispensing to points of care, how work is accomplished, to the information systems, how information and data from operations flow, within the healthcare supply chain.
6. Evaluate three different benefits of improved information systems and utilization of at least three metrics for healthcare supply chain operations and management in terms of performance, health outcomes and stakeholders’ perceptions.
Chapter 5 – Informing: Information Systems in the Healthcare Supply Chain
Learning Objectives
Outline and explain the utilization of information systems in the healthcare supply chain.
Discuss and give examples of the different uses of information systems and technology of those systems in the operation of the supply chain.
Relate, discuss and provide examples where information systems in the healthcare supply chain provide the availability of performance metrics and statistics to inform decision making for improved efficiency, effectiveness and efficacy of the supply operation in the healthcare organization.
Distinguish the functional areas of information systems, such as sourcing, EDI, vendor management, warehousing/storage and dispensing to points of care with regard to the healthcare supply chain.
Relate the business operation, how work is accomplished, to the information systems, how information and data from operations flow, within the healthcare supply chain.
Evaluate the benefits of improved information systems and utilization of metrics for healthcare supply chain operations and management in terms of performance, health outcomes and stakeholders’ perceptions.
Introduction
Information systems are valuable assets to healthcare organizations.
Data in context, such as a healthcare supply chain context, is information; information that is ‘actionable’ or useable is knowledge.
Information systems foster knowledge for operators, managers, leaders and strategists.
Efficient, effective and most importantly, efficacious business practices are reinforced and complemented by well developed, built and deployed information systems for a trained team of professionals a ...
The document discusses strategies used by "Complexity Masters" - companies that have successfully managed increasing supply chain complexity. It identifies forces like cost pressures that drive complexity. It also analyzes paradoxes where company priorities don't align with actions. Complexity Masters resolve these through strategies like collaborating with customers, managing products, and advanced technology. They have mastered processes within their organization and across partners.
The top three supply chain/procurement risks according to the survey are:
1) Supply interruption risk
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The top three current key business priorities related to supply chain solutions are:
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This document provides an overview of supply chain management (SCM). It defines SCM as coordinating and integrating all activities from sourcing to consumption to deliver enhanced customer value through synchronized management of physical goods and information flow. The importance of SCM is described as enabling companies to get products to customers faster than competitors to gain a competitive advantage. An example is given of how analyzing and improving processes throughout the supply chain can reduce order-to-delivery cycle times.
The document provides an overview of supply chain management (SCM). It defines SCM as coordinating and integrating the flow of physical goods and information from raw materials to end users. The importance of SCM is discussed, including how faster delivery of products can increase sales and market share. Key aspects of SCM addressed include objectives, principles, methodology, benefits, and characteristics. Application examples are given for different organization types. Implementation procedures and related tools are also summarized.
This document provides an overview of supply chain management (SCM). It defines SCM as coordinating and integrating all activities from sourcing to consumption to deliver enhanced customer value through synchronized management of physical goods and information flow. The importance of SCM is described as enabling companies to get products to customers faster than competitors to gain a competitive advantage. An example is given of how analyzing and improving internal SCM processes can reduce order-to-delivery cycle times.
The document discusses the need for supply chain resilience in today's volatile global business environment. It outlines four major trends driving changes to supply chains: 1) consumerism and boundary bleed are spreading consumer expectations like instant service and personalization to all industries; 2) just-in-time practices create efficient but brittle supply chains; 3) emerging markets introduce new risks and opportunities; and 4) regionalism is on the rise as countries seek more local sources. To develop resilient supply chains, companies must understand these forces and continuously monitor risks beyond their borders rather than taking a reactive approach after disruptions occur.
DHL_Resiliency_Umbrella_White_Paper_-_Feb_2014Ian Moore
The document discusses the need for supply chain resilience in today's volatile global business environment. It outlines four major trends driving changes to supply chains: 1) consumerism and boundary bleed are increasing demands on all industries and blurring sector boundaries, 2) lean supply chain practices have made chains fast but risky, 3) emerging markets are altering global flows, and 4) regionalism is on the rise. The document advocates for a resilient supply chain model that can maintain operations through disruptions, restore functions if needed, and potentially gain advantage from disruptive events.
Beyond Supply Chains Empowering Responsible Value ChainsSustainable Brands
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Packaging can help create competitive advantage and product differentiation in industries where tangible differences are difficult. Bilcare provides innovative packaging solutions to help pharmaceutical brands address challenges like compliance, communication, convenience, and counterfeiting. Their solutions include child-resistant and compliance-enhancing packaging, as well as designs that build brand associations and identities. Bilcare's innovative approaches help improve medication adherence and safety while strengthening brands.
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Our solution is based on over five years of intensive research and development. Our research has allowed us to deploy technology to uniquely identify items of value.
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Brand Protection & Security of Engineering ComponentsBilcareltd
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Ibm The Supply Chain Of The Future Bilcare
1. THE SMARTER SUPPLY CHAIN
OF THE FUTURE
GLOBAL CHIEF SUPPLY CHAIN OFFICER STUDY
LIFE SCIENCES INDUSTRY EDITION
2. 2
Introduction
In the course of our research for IBM’s inaugural Global Chief Supply Chain
Officer Study, we conducted face-to-face interviews with nearly 400 senior
supply chain executives from 25 countries and 29 different industries.1
Here, we focus on the responses of the 23 supply chain executives from
the Life Sciences industry (see sidebar, Survey sample).
Across industries and geographies, supply chain executives told us they
struggle with five primary challenges: visibility, risk, cost containment, cus-
tomer demands and globalization. Though the priorities vary slightly, the
same five issues weigh on the minds of Life Sciences executives (see
Figure 1).
While studying these high-ranking agenda items, we couldn’t help but
notice a common thread: the indisputable impact of the industry’s migra-
tion away from the blockbuster model. Increasingly, Life Sciences compa-
nies are selling therapeutic offerings that target smaller patient segments
FIGURE 1 The top five challenges for the Life Sciences supply chain
Life Sciences executives’ priorities vary somewhat from the full cross-industry sample.
supply chain
visibility
70%
risk
management
60%
increasing
customer
demands
56%
cost
containment
55%
globalization
43%
All industries Life Sciences
70%
52%
64%
30%
52%
Survey sample
Our survey sample includes
supply chain executives from
pharmaceutical companies,
biotechnology firms, generic
pharmaceutical makers,
medical device and diagnos-
tics companies, consumer
healthcare product providers
and medical distributors.
Seventeen percent of
respondents are based in Asia
Pacific; 35 percent in the
Americas; and 48 percent in
Europe.
3. 3
– and comprise more than just drugs. These solutions include diagnostic
tests, monitoring mechanisms, sophisticated delivery devices and a wide
range of support services – all potentially supplied by different partners.
The implications for the supply chain are dramatic.
To address this massive industry shift, Life Sciences companies will need a
different kind of supply chain – one that is much smarter. By this, we mean
a supply chain that is far more:
Instrumented – Using sensors and “smart” devices to gain greater visibil-
ity across the supply chain, mitigate risk, reduce cost and manage rising
complexity.
Interconnected – Integrating the entire supply chain to share information,
make decisions collaboratively and manage in realtime; connecting with
suppliers and especially with customers; communicating not just between
people, but among the billions of products, medical devices and smart
objects across the supply chain network.
Intelligent – Relying more on advanced analytics, simulation and model-
ing tools to evaluate increasingly complex and dynamic risks and con-
straints and manage the supply chain more scientifically.
Although the decline of the blockbuster model involves a difficult transition
for the entire industry, the smarter supply chain presents Life Sciences
executives with a tremendous opportunity: a way to tailor their operations
to meet the needs of different markets, customer segments, even individ-
ual patients.
introduction
4. 4
Visibility is top challenge
Like their peers across industries, Life Sciences executives rank visibility as
their foremost challenge. One contributing factor is the constant flux cre-
ated by waves of merger and acquisition activity. Companies are struggling
with a cumbersome patchwork of systems and tools – and, as a result,
poor visibility.
At the same time, supply chain networks are becoming much more global
and complex. Increasing numbers of sourcing and outsourcing partners
scattered around the world make it more and more difficult to maintain
visibility.
A number of internal organizational barriers also limit collaboration and vis-
ibility. For example, 87 percent of Life Sciences executives say individuals
in their companies are too busy to assist others in the management of the
supply chain. That is a surprisingly high hurdle – even larger than the 75
percent total across industries. This is only made worse by inhibitive orga-
nizational silos and misaligned performance measures.
Arguably, the greatest visibility challenge for Life Sciences companies is
the view downstream. While Life Sciences is ahead of other industries in
terms of planning with suppliers, customer collaboration is less pervasive
(see Figure 2).
executive summary
The case for
a smarter
life sciences
supply chain
“One of our biggest
challenges is developing
the ability to work together
with supply chain partners,
sharing access to our
organizations. All have their
own agendas.”
Vice President of Supply Chain,
pharmaceutical company, Europe
5. 5the case for a smarter life sciences supply chain
For example, Life Sciences lags far behind other industries in implementing
collaborative demand planning, forecasting and replenishment (CPFR) pro-
grams with customers, with only one-third of executives noting any initia-
tives in this area. Even customer collaboration methods acknowledged as
highly effective are not broadly adopted. For example, 46 percent of Life
Sciences executives consider vendor-managed inventory for their custom-
ers to be an extremely effective practice; but only 4 percent have imple-
mented it extensively.
FIGURE 2 Planning with suppliers is twice as prevalent as planning with customers
Although they generally rate customer collaboration as more effective than supplier collaboration, fewer
Life Sciences supply chains are using those practices, with the exception of continuous replenishment.
31%
with
customers
65%
with
suppliers
Life SciencesAll industries
65%
Collaborative planning
with suppliers
62%
Continuous replenishment
programs for customers
79%
83%
Shared, realtime electronic
demand/inventory data
62%
61%
Customer inventory
planning and deployment
programs
54%
48%
Collaborative demand
planning, forecasting, and
replenishment programs
with customers
52%
31%
6. 6 the case for a smarter life sciences supply chain
Visibility in the smarter supply chain
The smarter Life Sciences supply chain keeps customers – wholesalers,
governments, hospitals and pharmacies – stocked with the products they
need to meet uncertain patient demand. It works to replace the inventory
management guessing game with facts and realtime adjustments.
It does so by connecting with suppliers, manufacturing and distribution
partners, and especially customers. With clear line of sight to the first pay-
ing customer, the smarter Life Sciences supply chain can better determine
where to locate inventory and in what amount. Upstream visibility allows it
to make realtime adjustments to production and distribution, optimizing
inventory around the world and avoiding costly stockpiles in markets with
little demand.
Interconnectivity also allows the smarter supply chain to synchronize pro-
duction schedules across sites to minimize idle periods and shorten end-
to-end cycle time. This is particularly important with increases in the
number of complex treatment solutions that involve multistep, multisite,
multipartner manufacturing and assembly processes.
7. 7the case for a smarter life sciences supply chain
In the smarter Life Sciences supply chain, sensors and other smart devices
– not just people – communicate and share information. This allows com-
panies to work around what Life Sciences executives cited as their top
obstacles to collaboration: employees that are too busy to assist, organi-
zational silos and misaligned performance measures. In some instances,
smarter systems can even make decisions and take action automatically
– increasing responsiveness and reducing the need for human
involvement.
Automating baseline activities also has the added benefit of freeing time for
employees to manage critical exceptions and focus on higher-value activi-
ties. For example, smart pallets could sense which products they are car-
rying, whether they contain the proper amount of that product and, if not,
automatically send a replenishment signal.
8. 8 the case for a smarter life sciences supply chain
Case study
Endo Pharmaceuticals: Tight connections
bring greater visibility
Although Life Sciences companies are starting to outsource parts of their
supply chains, executives still debate the potential risks – loss of control,
loss of intellectual property (IP), loss of visibility into what’s happening with
their operations. Perhaps because it is a relative newcomer to the industry,
pain management maker Endo Pharmaceuticals has not succumbed to
these fears. Sometimes referred to as a “virtual company,” Endo relies on
third-parties for all of its manufacturing and distribution.2
This approach allows Endo’s supply chain to expand or contract in line
with demand volumes, helping the company avoid obstacles and risks that
could have derailed its rapid growth. Together, Endo and its supply chain
provider (UPS Supply Chain Solutions) designed the two distribution cen-
ters UPS now runs for the company. They also collaborated on the 15
detailed performance metrics used to manage the operation.3
The two companies are interconnected not only in terms of facilities and
process, but also through information systems. UPS employees work
directly with Endo’s ERP system, which, in turn, is fed by the vendor’s
warehouse management system.4
Trusting an external provider to manage its supply chain does not mean
Endo has relinquished control or lost visibility. To the contrary, the extreme
interconnectivity between the companies provides Endo with a hands-on
view of its entire supply chain.5
9. 9the case for a smarter life sciences supply chain
Life Sciences lacks customer intimacy
It’s easy to understand why Life Sciences supply chain executives rank
customer demands as their second highest challenge. The industry serves
a diverse customer base – including wholesalers, governments, hospitals
and retail pharmacies, each with very different requirements and
expectations.
On another level, the industry is struggling to better meet the needs of
individual patients, as it evolves from blockbuster drugs to include targeted
treatment solutions and eventually gene-based therapies. Understanding
patient needs can be even more challenging in markets where legislation
blocks direct access to consumers.
At the same time, globalization has introduced another layer of variability,
with demand constantly varying across markets and some regions requir-
ing market-specific solutions. To know how much product to make, when
and where – and, increasingly, to even know what product to make – the
Life Sciences supply chain needs greater customer insight.
However, despite Life Sciences executives’ serious concern about rising
customer demands – which far surpassed the cross-industry average –
the industry is not moving toward customer intimacy very quickly. In terms
of product development, the industry is still primarily R&D-driven, with
more Life Sciences executives worried about reducing time to market (70
percent) than identifying customer needs correctly (57 percent). In the area
of supply chain planning, 56 percent of the Life Sciences companies
acknowledge that they only collaborate with customers on demand plan-
ning to a very small extent – nearly one-third do not collaborate with cus-
tomers at all. When compared to top supply chains, Life Sciences
companies show significant gaps in their ability to effectively synchronize
supply and demand (see Figure 3).
“Our major challenge is
working with the business
to align goals and agree
on where we can be a
competitive advantage in
driving revenue, as opposed
to just reducing costs…
for example, in the design
of new packaging and
presentation options.”
President of Global Manufacturing,
pharmaceutical company, North
America
10. 10
FIGURE 3 Life Sciences lags in customer demand collaboration
In terms of supply chain planning, the largest gap between top supply chains and the industry is in
the area of customer collaboration.
the case for a smarter life sciences supply chain
Customer intimacy in the smarter supply
chain
Smarter supply chains help Life Sciences companies segment and serve a
diverse customer base, proactively gathering and analyzing information to
develop a deeper understanding of each segment’s specific needs. Close
collaboration with wholesalers, governments, hospitals and retail pharma-
cies is critical to serve those customers better. But it’s equally important
because these customers are important allies in understanding the end
consumer – the patient.
Internal meetings with sales,
marketing and supply chain
operations
External supply planning
collaboration with suppliers
External demand
collaboration with customers
20%
gap
Life Sciences Top supply chains
73%
57%
83%
96%
43%
63%
11. 11the case for a smarter life sciences supply chain
With greater interconnectivity and instrumentation, the smarter Life Sciences
supply chain can even tailor distribution systems to meet segment-specific
needs. For example, reliable 24-hour delivery might be more important to
hospitals since they tend to carry less inventory than wholesalers and large
retail pharmacies. Better insights help the company decide on the best dis-
tribution approach for each product – for example, when to go through a
wholesaler or directly to the patient.
While early adopters are using sensors and radio frequency identification
(RFID) tags primarily for track-and-trace capabilities, the smarter supply
chain uses them to understand customer needs as well. For example,
RFID-enabled promotional displays might report on customer enthusiasm
for a new over-the-counter product. Stents, pain pumps, pacemakers and
other implanted devices could advise of their condition so they are replaced
precisely when needed, rather than on a fixed schedule or, worse, upon
failure.
To help synchronize supply and demand, the smarter Life Sciences supply
chain uses sophisticated simulation models of customer behavior, buying
patterns and market penetration. And unexpected shifts in demand are
easily accommodated because of realtime connections and flexible rela-
tionships with suppliers.
12. 12 the case for a smarter life sciences supply chain
Case study
The Global Pandemic Initiative: Ready to
supply uncertain demand
What if a company had to develop and distribute a new medicine immedi-
ately, but its customers could not specify what kind of drug they need or
how much or where it needed to be shipped? Such is the case with a
pandemic.
Established to confront this intractable problem, the Global Pandemic
Initiative is a collaboration that spans private industry, academia, govern-
ments and public health agencies worldwide.6
More than 20 partners are
involved.
The Initiative aims to collect and analyze clinical data from hospitals and
health organizations around the globe to identify and track emerging dis-
ease outbreaks. Sophisticated data modeling and simulation – for exam-
ple, using travel patterns of humans, and in the case of avian flu, birds
– help researchers predict the spread of disease.
By connecting all of these sources of information and leveraging advanced
analytical tools, decision makers can more accurately assess risks and
prepare. This, in turn, helps shorten response time and allows more
informed decisions regarding patient isolation, school and business clo-
sures and travel bans.7
The Initiative also works closely with pharmaceuti-
cal companies to help ensure global manufacturing and supply chain
networks are prepared for rapid ramp-up and stockpiling of drugs. In a
pandemic, the ability to respond rapidly and globally is a life-or-death mat-
ter of enormous proportions.
13. 13the case for a smarter life sciences supply chain
Risk avoidance versus risk management
As part of what is perhaps society’s most heavily regulated industry, Life
Sciences companies take risk seriously. They do so not just for compliance
reasons, but because safety, quality and trustworthiness are integral to
their brands.
So, it’s not surprising that, when compared to other industries, more Life
Sciences supply chain executives (75 percent versus 69 percent) are mon-
itoring risk. Similarly, the IBM Global CFO Study found that twice as many
Life Sciences companies say they are prepared to handle a risk event.8
Clearly, Life Sciences executives understand risk. But are they more likely
to manage it or avoid it? In the past, the typical response to potential loss
of intellectual property was: don’t partner. To risk of counterfeit or theft: exit
that geographic market. To stock-outs: build a bigger buffer. For many
companies, the objective is still to entirely eliminate any chance of a risk
event occurring.
Risk avoidance, however, can be an expensive strategy. For example, con-
sider the cost of excess inventory. The Life Sciences industry has a median
inventory turnover of 3.4, which is significantly less than the market median
(5.5) and a small fraction of the ratio achieved by leaders like Dell Inc.
(47.1).10
Additionally, the nearly four months it takes to move inventory
through the Life Sciences supply chain consumes a substantial portion of
these pharmaceutical products’ limited shelf life.
“The trade-off between
partner collaboration and
risk management is one of
our largest challenges.”
Supply chain executive, medical
solution provider, Europe
14. 14
As margins become slimmer and supply chain complexity rises, Life
Sciences companies will not be able to insulate themselves from all risks.
Instead, Life Sciences supply chains must become more adept at manag-
ing risk.
the case for a smarter life sciences supply chain
FIGURE 4 Life Sciences companies trail top supply chains in implementing risk management
Although many companies are monitoring risk, the industry still has room to improve risk
management practices.
In next 3 yearsCurrently implemented
Compliance
programs with
suppliers/
providers
top supply chains
life sciences
Process controls
in logistics and
operations
Risk mitigation in
supply chain
planning
Event management
to monitor
disruptions
top supply chains
life sciences
top supply chains
life sciences
top supply chains
life sciences
92%
82%
80%
78%
72%
72%
82%
96%
9
15. 15the case for a smarter life sciences supply chain
Risk management in the smarter supply
chain
Smarter supply chains allow Life Sciences companies to adopt a much
more scientific approach to identifying and managing risk. Instrumentation
throughout the supply chain network provides realtime input for risk quan-
tification. And sophisticated simulations and data models help companies
calculate the probability of a particular risk occurring. Add revenue projec-
tions and it’s possible to determine revenue at risk over any given time
horizon.
Such intelligence also allows a more precise response. By modeling alter-
native mitigation strategies, the supply chain can prioritize, schedule and
cost the actions required to reduce risk and manage its overall risk profile.
Instead of avoiding risks at any cost, the smarter supply chain employs a
fact-based, quantitative risk management approach.
The smarter Life Sciences supply chain also combats risk by building intel-
ligence into its products and packaging. Barcodes, RFID tags and other
emerging smart devices provide realtime visibility to thwart diversion and
theft – and enable authentication to stem the flow of counterfeit drugs.
Combined with end-to-end supplier integration, these track-and-trace
capabilities help partners respond quickly and comprehensively in the
event of a recall situation.
16. 16
Case study
Bilcare Research: Managing the pedigree
of drugs
Counterfeiting is arguably the most ominous risk facing the Life Sciences
industry today. According to the World Health Organization, approximately
10 percent of the worldwide drug supply is counterfeit.11
This equates to
nearly US$74 billion in lost sales in 2008 alone – and the potential toll on
human life is far greater.12
Bilcare Research – through its research and technology division, Bilcare
Technologies – has developed a solution aimed at safeguarding the drug
supply. Each package or product flowing through its supply chain has a
tamper-evident, nonclonable tag made using nanotechnology. The tag’s
“fingerprint” is virtually impossible for counterfeiters – or even Bilcare itself
– to duplicate because of the random manner in which it is generated. To
confirm authenticity, customers – such as retail pharmacies, hospitals and
patients themselves – can simply swipe the packet across a scanner.13
Not only are the nanotechnology tags nearly impossible to clone, they are
also less expensive than solutions involving electronic components.14
In
addition, these tags can be leveraged throughout the supply chain to pro-
vide track and trace capabilities and help stem the US$1 billion lost each
year to theft and diversion.15
Even after delivery to the consumer, this solu-
tion can add value by helping monitor patient compliance.16
Applications of this technology extend well beyond pharmaceuticals. For
example, the automobile industry – which struggles against bogus compo-
nents – is another early adopter.17
the case for a smarter life sciences supply chain
17. 17the case for a smarter life sciences supply chain
The good and bad of globalization
Across the Life Sciences industry, global sourcing and relocation of manu-
facturing to lower-cost regions continues to grow at a rapid pace. Estimated
at US$39 billion in 2007, the global market for contract research and man-
ufacturing outsourcing is expected to reach US$52 billion by 2010.18
Our findings corroborate this trend. Three-quarters of the Life Sciences
supply chain executives indicate they currently source materials from
Western markets. But over the next three years, 60 percent plan to
decrease sourcing from Western Europe, and 45 percent plan to source
less from North America. Conversely, eight out of ten executives plan to
increase the percentage of materials sourced from Asia and Asia Pacific.
And 38 percent plan to source more from Eastern Europe.
Increased global sourcing, manufacturing and operations are not without
challenges, however (see Figure 5). Life Sciences executives are particu-
larly concerned about capacity and quality issues. Inconsistent quality –
especially for the active pharmaceutical ingredients (APIs) that convey a
drug’s medicinal effect – can lead to serious adverse effects, even death.
For example, in 2008, Heparin manufactured in China was linked to four
deaths and hundreds of allergic reactions.19
That same year, the U.S. Food
and Drug Administration issued import alerts for any APIs or finished prod-
ucts made at two Indian plants owned by Ranbaxy Laboratories, impact-
ing 30 different generic drugs.20
“Global supply chains face
fundamental discontinuity
around the world – we still
don’t have a global standard
for RFID and customer
sophistication and adoption
of advanced technologies
varies widely.”
President of Supply Chain, healthcare
services provider, North America
18. 18 the case for a smarter life sciences supply chain
With so many issues, why are Life Sciences companies going global?
Obviously, they are hoping to lower costs in the face of rapidly declining
blockbuster revenues. However, 25 percent of our Life Sciences respon-
dents say their costs have actually increased as a result of global
sourcing.
Perhaps an even stronger reason for expanding globally is to reach the
growing population of consumers in these rapidly developing markets.
Among Life Sciences supply chain executives, nearly half report increased
sales from their globalization efforts.
And in the IBM Global CEO Study, Life Sciences CEOs indicated plans to
increase investment in newly affluent customers in developing countries by
43 percent – more than double the global average – over the next three
years.21
FIGURE 5 Quality issues are a major challenge to global sourcing
Many Life Sciences executives have already experienced quality issues as a result of global sourcing and
operations; even more are anticipating capacity issues in the near future.
Expect in 3 yearsHave experienced
Delivery issues and reliability of
commitments
81%62%
Lead times are greater than
expectations
81%62%
Quality issues
81%76%
Capacity issues for new/unproven
sources or operations supply
86%52%
Difficulty evaluating/managing
new sources
62%52%
Regulatory/legal issues in
sourcing or manufacturing
country contract
71%43%
76%
experiencing
quality issues
19. 19the case for a smarter life sciences supply chain
Globalization in the smarter supply chain
Typically, global sourcing and outsourcing are focused on off-patent,
mature product areas – where risk is deemed lower. But with a smarter
supply chain, Life Sciences companies can better address the current
challenges and risks that are impeding globalization and hindering expected
cost savings.
Perhaps more importantly, smarter supply chains help companies capital-
ize on the tremendous revenue opportunity found in emerging markets.
Through greater supply chain visibility, companies can synchronize supply
with varying levels of demand around the world. And more advanced cus-
tomer insight allows firms to tailor their products and distribution channels
to meet market-specific needs.
The smarter Life Sciences supply chain establishes global “centers of
excellence” in optimal locations – close to affordable talent, but also where
local demand is high. These centers might be owned by the Life Sciences
company, but could just as easily belong to one of its many outsourcing
partners. Seamless integration blurs company delineations.
Through its highly instrumented network, the smarter supply chain con-
stantly tracks and shares location information among partners to ensure
product pedigrees and protect the world’s drug supply. This heightened
degree of instrumentation and interconnectedness also provides the visi-
bility needed to optimize and cooperatively manage its increasingly global
supply chain network.
20. 20 the case for a smarter life sciences supply chain
Case study
Pfizer Global Manufacturing: Optimizing
its global footprint
Pfizer Inc. has experienced a decade of explosive growth through both
market development and acquisitions – most notably, Warner-Lambert in
2000 and Pharmacia in 2003. By 2008, rapid expansion had elevated rev-
enues to more than $US48 billion – but it also added tremendous opera-
tional complexity. Worldwide, the company’s production network grew to
over 100 facilities. And each acquisition brought different products, pro-
cesses and technologies that needed to be integrated in order to deliver
anticipated value.
In response, Pfizer Global Manufacturing (PGM) launched a focused strat-
egy aimed at reducing both cost and complexity – without jeopardizing
quality. The plan included simplifying its manufacturing network and stan-
dardizing processes and technologies globally. PGM also assigned vice-
presidents to each Pfizer unit to better understand customer demand and
avoid any adverse impacts to service levels.
This initiative put in motion a crucial shift in philosophy: instead of requiring
that all products and materials be produced internally, Pfizer would now
consider all viable alternatives. This included not just sourcing of raw and
semi-finished materials, but also contract manufacturing.
Although its transformation is not yet complete, PGM is already realizing
benefits. More than 20 percent of its production volume is now managed
by partners, and plans are underway to increase this further. To date, the
organization has reduced costs by 25 percent – more than half way to its
aggressive target of 40 percent.
21. 21the case for a smarter life sciences supply chain
Time to cut cost
Compared to other industries, considerably fewer Life Sciences executives
rank cost among their top challenges (30 percent versus 55 percent across
industries). However, it’s important to put this in context; a few years ago,
cost containment probably would not have figured in the top five at all.
Historically, Life Sciences supply chain managers worried about two imper-
atives: complying with regulatory mandates and keeping products in stock.
They did whatever it took to avoid these two issues – essentially at any
cost.
However, even before the arrival of the new economic environment, the
Life Sciences industry was already in transition – with the era of double-
digit growth giving way to a decade of expiring patents, dry pipelines,
generic-driven price erosion and high-profile safety withdrawals. As a
result, Life Sciences executives have begun making drastic – arguably
overdue – changes to their cost structures. For example, companies are
shrinking their manufacturing footprints by eliminating plants, some of
which operate at just 20 percent of their capacity.
In terms of cost reduction, though, most Life Sciences companies are still
in the early stages. As obvious streamlining is accomplished, and global
sourcing and outsourcing become routine, executives will need higher-
precision methods for controlling costs (see Figure 6).
While cost dominates supplier relationships in other industries, cost and
quality share equally as the top focus among Life Sciences executives. In
many ways, the two are linked. Meeting the public’s high expectations for
quality – not to mention regulatory requirements – can be costly. This is
especially true when products that fail to meet standards have to be fil-
tered out at the end of the manufacturing process after so much expense
has been incurred.
“Thirty percent of our SKUs
give us 95 percent of our
sales; the other 70 percent
of our SKUs contribute
only 5 percent. SKUs that
have low sales and margins
must be justified, withdrawn
or consolidated. Retained
product variants with
low sales will have their
standard costs adjusted to
reflect more accurately the
true cost of supply.”
Vice President Global Supply Chain
Operations, pharmaceutical company,
Europe
22. 22
Cost containment in the smarter supply
chain
To control costs, the smarter Life Sciences supply chain focuses on con-
tinuous process improvement through programs such as Six Sigma or
Lean Manufacturing. Advanced analytics – applied against the wealth of
information collected from sensors and other smart devices – help it iden-
tify opportunities to improve operational efficiency.
When making difficult decisions, such as which manufacturing facilities to
retain or divest, the smarter supply chain has the ability to simulate the full
effect of cost-cutting alternatives. By analyzing the impact on customer
service levels, supplier pricing, logistics costs and more, the supply chain
can make more intelligent trade-offs.
the case for a smarter life sciences supply chain
FIGURE 6 Executives are capturing easy savings first
Third-party logistics collaboration is a relatively pervasive method of reducing cost, but more complex
opportunities – like network optimization and simulation – are less penetrated.
Some implementationExtensive implementation
Differentiated logistics services
for distinct customer segments
Network optimization and
simulation tools
Formal distribution strategy
Collaboration & integration among
third-party logistics providers
Supply chain visibility for
managing exceptions
96%30%
91%35%
83%30%
74%22%
48%9%
23. 23the case for a smarter life sciences supply chain
During manufacturing, greater instrumentation allows the smarter Life
Sciences supply chain to use online process controls to make realtime
adjustments that reduce impurity levels and increase yield. Instead of los-
ing billions trying to inspect its way to Six Sigma levels post production, the
smarter supply chain lowers the cost of quality by monitoring on a continu-
ous basis, eliminating defects as soon as they appear or, even better, pre-
venting them.
One of the most significant opportunities available to smarter supply chains
is the chance to replace batch-based production with continuous manu-
facturing. For years, regulatory requirements for traceability compelled Life
Sciences companies to stick with batch processing while other industries
were rapidly switching to more efficient continuous manufacturing
approaches.
But, with a smarter supply chain, that obstacle is gone. Extensive instru-
mentation provides the necessary visibility to track materials and products
throughout the supply chain, enabling Life Sciences companies to finally
take advantage of continuous manufacturing. Engineering principles sug-
gest that by switching to continuous manufacturing processes, Life
Sciences companies will be able to produce the same volume but with a
much smaller manufacturing footprint, drastically reducing capital invest-
ments. Operations should be more efficient as well, with less waste, lower
energy consumption and less time and expense involved in changeover.
24. 24 the smarter supply chain
a mandate for change
Regardless of actual title – Supply Chain Director, Vice President of
Strategic Supply or Chief Supply Chain Officer, as we’ve called them – the
executives in charge of supply chains are emerging as strategic cross-line-
of-business leaders. Across industries, 46 percent of our respondents
report directly to the CEO; within Life Sciences, even more (55 percent) are
direct reports.
On balance, the role of Chief Supply Chain Officer seems to be more
advanced among Life Sciences companies. More Life Sciences executives
have assumed responsibility for strategic functions beyond the traditional
scope of supply chain management (see Figure 7). In contrast to the over-
all sample, the leaders of Life Sciences supply chains are far more involved
in risk management, customer relationships and new product
introductions.
Perhaps this is out of necessity. As compared to other industries, the Life
Sciences supply chain carries an inordinate amount of business risk – and
a commensurate level of regulatory oversight. Safety recalls are devastat-
ing for any industry. But in Life Sciences, insufficient capacity, out-of-stocks
or even late delivery can have fatal consequences.
top five supply chain challengesexecutive summary
The evolving
role of the
Chief Supply
Chain Officer
“We struggle against the
belief that the supply chain
is an execution function
versus a strategic capability.”
Vice President Supply Chain
Management, biotech company,
North America
25. 25
The very nature of the Life Sciences supply chain demands a more strate-
gic role for its leader. That said, Life Sciences Chief Supply Chain Officers
still have room to expand their leadership roles. Their companies are count-
ing on them to provide the means to obtain deeper customer insights – to
help them develop differentiated products and tailor their businesses to
meet segment-specific needs. Through deeper involvement in new
the evolving role of the chief supply chain officer
Planning (demand/supply)
Distribution/Logistics
Sourcing & procurement
Performance measurement
& analytics
Supply chain strategy
development
Manufacturing
FIGURE 7 Chief Supply Chain Officers play a broad, complex role
In Life Sciences, the position involves even more strategic responsibilities.
Technology enablement
Customer management
Returns management, post
sales support
Risk management
New product design,
development, launch
Merger/acquisition operations
integration
Life SciencesAll industries
77%
81%
72%
95%
63%
57%
45%
48%
38%
33%
28%
48%
27%
33%
26%
43%
26%
24%
23%
43%
15%
29%
13%
14%
Traditional
functions
emerging
strategic
functions
17%
more
20%
more
14%
more
26. 26
product design, supply chain executives can interject manufacturing and
distribution considerations. This allows them to influence the estimated 80
percent of product cost that is locked in during development, impervious
to supply chain cost control.22
The success of Life Sciences companies has historically been based on
the strength of their pipelines. However, this industry’s Chief Supply Chain
Officers now have the mandate to infuse their supply chains with just as
much intelligence as their R&D functions. Supply chain visibility, risk man-
agement, global sourcing, cost control and customer insights demand a
similar scientific rigor – and actions that are based on facts. In short, Life
Sciences Chief Supply Chain Officers must team with their C-suite peers
to build not just smarter supply chains, but smarter businesses.
Conclusion
As their industry undergoes fundamental change – from a blockbuster-
based business to one focused on targeted treatment solutions – Life
Sciences supply chain executives are confronting many new challenges.
The development and distribution of drugs is becoming just one part of a
much larger and more elaborate supply chain.
Increasingly, customer insights and segmentation are driving operations.
And targeted treatment solutions are bringing more partners, more and
different kinds of manufacturing, more SKUs – and undoubtedly more risk.
The question is: can a conventional supply chain adequately support such
a dramatically different business?
the evolving role of the chief supply chain officer
27. 27
Life Sciences supply chain executives already see signs of wear and tear.
They are concerned about inadequate visibility across an increasingly com-
plex global supply chain. Customer collaboration is still in nascent stages.
Although executives agree global sourcing is necessary, and beneficial in
most cases, it brings concerns about quality and capacity. Despite above-
average risk management capabilities, Life Sciences companies are strug-
gling against a rising tide. And after decades of comfortable margins and
negligible cost pressure, Life Sciences supply chains must now get lean
very quickly.
Yet, hidden in what may feel like forced change, there is a choice. Will Life
Sciences executives answer this challenge by simply adding supply chain
speed and capacity? Or will they use this time of transition to make their
supply chains smarter?
We look forward to learning more about how your supply chain is adapting
to these changing times – and working with you, as you build the Smarter
Supply Chain of the Future.
conclusion
28. 28
Acknowledgments
We would like to thank the Life Sciences supply chain executives from
around the world who generously shared their time and insights with us.
We’d also like to acknowledge the contributions of the IBM team who
worked on the Life Sciences edition of the Global Chief Supply Chain
Officer Study: Tiffany Yu, Romas Pencyla, Heather Fraser and Philippe
Cini.
About IBM Global Business Services
With business experts in more than 170 countries, IBM Global Business
Services provides clients with deep business process and industry exper-
tise across 17 industries, using innovation to identify, create and deliver
value faster. We draw on the full breadth of IBM capabilities, standing
behind our advice to help clients implement solutions designed to deliver
business outcomes with far-reaching impact and sustainable results.
29. 29
IBM Global Business Services Life Sciences
Consulting Practice
The IBM Life Sciences team has extensive industry knowledge and innova-
tive solutions to assist clients with specific strategic and operational chal-
lenges facing the industry. Our expertise extends from strategy consulting
to business transformation to technology platform implementation. For the
supply chain function, our consultants combine business process and
technology insights to help organizations across areas such as supply
chain strategy, planning, product lifecycle management, sourcing and pro-
curement, operations, asset management, logistics and enterprise
applications.
The IBM Institute for Business Value
The IBM Institute for Business Value, part of IBM Global Business Services,
develops fact-based strategic insights for senior business executives
around critical industry-specific and cross-industry issues.
For further information
To find out more about this study, please send an e-mail to the IBM Institute
for Business Value at iibv@us.ibm.com, or contact Philippe Cini, IBM Global
Life Sciences Supply Chain Management Partner, at pcini@us.ibm.com.
30. 30
Notes and sources
1 “The Smarter Supply Chain of the Future: IBM Global Chief Supply Chain Officer Study.” IBM Institute for
Business Value. January 2009. http://www.ibm.com/supplychainstudy. As part of our study, we spoke at length
with 393 supply chain executives across North America, Western Europe and Asia Pacific. These leaders head
supply chains that serve a variety of industries, including Retail, Industrial Products, Food and Beverage, Life
Sciences, Telecom, Electronics and Government.
2 Bowman, Robert. “Young Pharmaceuticals Offshoot Breaks the Mold With Outsourcing.” Global Logistics &
Supply Chain Strategies. March 1, 2007. http://www.supplychainbrain.com/content/headline-news/single-
article/article/young-pharmaceuticals-offshoot-breaks-the-mold-with-outsourcing/
3 Ibid.
4 Ibid.
5 Ibid.
6 “IBM, Public Health Groups Form Global Pandemic Initiative.” IBM Press Release. May 15, 2006.
7 “Epidemic and Pandemic Alert and Response.” World Health Organization. http://www.who.int/csr/disease/
avian_influenza/avian_faqs/en/
8 “Balancing risk and performance with an Integrated Finance Organization: The IBM Global CFO Study 2008.”
IBM Global Business Services. October 2007. This comparison is based on our analysis of the subset of responses
from Life Sciences CFOs.
9 The term, top supply chains, refers to the subset of our overall survey population that was featured in: Friscia,
Tony, Kevin O’Marah, Debra Hofman and Joe Souza. “The AMR Research Supply Chain Top 25 for 2008.”
AMR Research. 2008.
10 Company data, industry median and market median obtained from Hoover’s, Inc.
11 “Partnership for Safe Medicines Arms Public Against Counterfeit Drugs.” Partnership for Safe Medicines. http://
www.safemedicines.org/2008/12/partnership-for-safe-medicines-arms-public-against-counterfeit-drugs-1.html
12 IBM Institute for Business Value analysis based on 10 percent of IMS 2008 Global Pharmaceutical Market
Forecast, accessed April 1, 2009 at http://www1.imshealth.com/web/con-
tent/0,3148,64576068_63872702_70260998_82829532,00.html
31. 31
13 Somasekhar, M. “Bilcare develops nano fingerprint to check fake drugs.” The Hindu Business Line. September 18,
2008.
14 Bilcare Technologies. http://www.bilcare.com/products_and_services/bilcare_technologies.htm
15 Megget, Katrina. “Drug theft costs industry up to $1bn a year.” Outsourcing-Pharma.com. October 2, 2007.
16 Bilcare Technologies. http://www.bilcare.com/products_and_services/bilcare_technologies.htm
17 “Bilcare bets on anti-counterfeit technology.” Business Standard. September 4, 2008.
18 “Indian Contract Research Manufacturing and Services.” Research and Markets. http://www.researchandmar-
kets.com/reportinfo.asp?report_id=595563&t=d&cat_id=
19 “Heparin Chinese Supplier Was Never Checked By Chinese Drug Regulators.” Medical News Today. February 16,
2008.
20 “FDA Issues Warning Letters to Ranbaxy Laboratories Ltd., and an Import Alert for Drugs from Two Ranbaxy
Plants in India.” U.S. Food and Drug Administration Press Release. September 16, 2008.
21 “The Enterprise of the Future: IBM Global CEO Study – Life Sciences Industry Edition.” IBM Institute for
Business Value. August 2008. http://www.ibm.com/ceostudy
22 Pisano, Gary P. The Development Factory. Boston, MA: Harvard Business Press, 1997.
notes and sources