Digitisation is transforming industries across different sectors and the pharmaceutical industry is not new to this anymore. The pandemic forced pharmaceutical companies to accept digitisation as a new reality and there’s no going back. The same holds true for the entire healthcare market.

According to Bain & Company, out of 75 per cent of doctors who preferred in-person visits from sales representatives before the pandemic, 47 per cent now prefer virtual interactions or fewer visits. With more virtual interactions and less face-to-face contact, pharmaceutical companies will be able to reassign a considerable part of their resources into more critical tasks like drug discovery, clinical trials, etc. As the pharmaceutical industry faces increasing challenges like globalization, supply chain complexity, price and cost pressure, digitization holds immense potential in helping pharma companies adapt. Through the application of digital technology, pharma companies will able to significantly gain insights into their supply chain processes and make informed and faster decisions.

Virtual Supply-Chain Processes

Digital tools provide collaborative, mobile and dynamic decision-making interfaces that allow supply chain managers to manage and oversee operations across the entire supply chain. With data from every node of the supply chain available, it is processed by the analytics tools to develop better insight on all aspects of operations and the supply chain like inventory levels; demand/supply orders; goods in transit; manufacturing performance etc. and allow managers to make real-time decisions. Similarly, managers can also analyse the risk exposure and devise ways to handle unplanned incidents or come up ideas to further improve the current processes.

Cloud-based IT Architecture

An architecture that is cloud-based can enable rapid computing of various types of data across all nodes of the supply chain. Such an architecture can provide flexibility in managing all the supply chain partners in the network as they can easily be added/integrated or deleted. Also, cloud computing is built over existing ERP systems at different nodes and this allows for easy scalability and integration. Furthermore, collecting, storing and translating the data in the cloud ensures that it is accessible to all via multiple databases.

Automation in Manufacturing

Pharmaceutical companies are using automation in the manufacture of medicine and other products. Robots are able to replace human tasks like mixing chemicals and packaging. This can not only reduce errors in the process but also lessen the risk of biohazard and contamination. The concept of smart factories is allowing humans, resources and machines to remain connected through cyber-physical systems that communicate as in a social network. Digitized production is helping pharmaceutical companies to improve overall equipment effectiveness, in turn, increasing throughput, quality and reducing downtime. In the near future, it is expected that new production techniques like additive manufacturing of drugs, continuous manufacturing and robotics will further break through the boundaries of traditional pharmaceutical manufacturing.

Digitally Enabled Warehousing and Distribution Facilities

In the current scenario of labour intensive and highly manual warehouse operations, digital solutions are bringing new possibilities and opportunities. Such innovations are already appearing in the logistics sector. In response to the growing issue of counterfeit drugs, track-and-trace regulations and product serialization will require pharma companies to develop new digital capabilities like RFID tagging, to ensure better material flow and patient safety. On top of that, additional steps can be taken using technology to improve supply chain performance. For instance, RFID tags implemented in the warehouse can facilitate automated picking systems, and the use of scanning drones can help provide inventory information. When it comes to distribution, RFID-tagged storage cabinets and pillboxes in hospitals can generate data that will enable automated re-stocking of drugs.

Final Thoughts

There are plenty of key factors on this journey. Pharma companies need to get a clear understanding of the ecosystem and the latest technologies. It is also important to have the right resources in place, which must include a team of experts and adequate capital to make required investments. Collaboration with partners is critical if industry players are to truly develop integrated end-to-end supply chain solutions. The companies that can seize this opportunity can operate with cost-efficiency, agility and control as well as transform their market engagement.

Source: https://timesofindia.indiatimes.com/blogs/voices/digitisation-is-key-for-pharmaceutical-companies-to-transform-market-engagement/