Life Sciences Focus: Supply Chain Management
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Global pharmaceutical product supply disruption caused by the coronavirus pandemic can be
overcome through the adoption of new supply chain systems.
Managing the triple threat - how Life Sciences can build pandemic-ready supply chains
Bill DuBois, Director of Product and Marketing Content at Kinaxis, demonstrates how the normal supply chain management issues of working in a highly regulated environment with products that have limited lifespans and the consequent need to supply products to patients quickly have been exacerbated by the current COVID-19 crisis and explains how this ‘triple threat’ can be managed for successful product delivery through ‘pandemic-ready’ supply chains.
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upply chain planning in life sciences has always been complex. It is a highly regulated sector; pharmaceuticals products typically have limited life spans,
and supply chains are often based on functional silos. Planning cycles can sometimes extend over 5-10 years. Excess inventory can also be a problem but the overriding concern is getting products quickly out to end users to keep them well.
These issues are exacerbated by the current
crisis. This is no single demand spike. COVID-19 has been disrupting supply chains for months. In the US, as early as February, Senator Josh Hawley warned: “The coronavirus outbreak in China has highlighted severe and longstanding weaknesses in our medical supply chain. This
is more than unfortunate; it’s a danger to public health.” Certainly, the pandemic has raised serious questions of life sciences supply chains globally. Here are three main areas to consider as we navigate uncharted territory:
# 1 Demand is volatile
We have seen spikes in demand around key products such as ventilators, masks, gowns and test kits. There is also a need to hurry through therapeutics and vaccines as well as temporary testing and hospital facilities. At the same time, there are demand slides. At the outset of the pandemic we saw an initial run on medicines which has now subsided. Today, with travel limited and people self-isolating, the
items seeing demand cliffs are extensive. This, coupled with spikes in demand, make current plans and forecasting methods of little value. Businesses will need to have good visibility across the chain to see the real picture on the ground and they will need to have tools in place to enable them to adjust their approach accordingly.
#2 Supply shortages are inevitable
The life sciences supply chain is struggling to deliver medications to patients across the world. Moreover, panic buying of medicines directly related to the symptoms of COVID-19 has led to shortages in pharmacies. Supply from manufacturing facilities in China has been hit hard and is only now beginning to recover
Summer 2020
(Image from Pixabay)
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