Supply chain & logistics


Steady supply in a turbulent economy


The pharmaceutical industry pulled through during the height of the pandemic, despite increased lead times and delays to shipping. But given that these shocks to the supply chain are still being felt, some say the industry is now in the midst of a perfect storm. Andrea Valentino speaks to Maxine


Fritz of NSF International, and Tacy Foster of McKinsey, to fi nd out how the current economic and geopolitical landscape is impacting supply chains, how new technology is helping improve things and whether a transformation away from globalised networks is necessary.


T


he last few years have not been good for the global economy. Since March 2020, lockdowns and travel bans saw worldwide GDP slump by 3.9% – the worst dip since the Great Depression. It had been hoped, as vaccines made their mark and borders reopened, that confidence and growth would return. But then came Ukraine. With Vladimir Putin holding much of Europe’s energy supply hostage,


recession stalks the continent’s boardrooms once more. Nor is the impact of the crisis visible simply in share prices – the gas shortages risk shuttering factories from Lombardy to the Rhine, even as millions of workers risk shivering through the winter ahead. An integral part of international markets, pharmaceuticals are not immune from these convulsions. The numbers, as so often, speak for


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World Pharmaceutical Frontiers / www.worldpharmaceuticals.net


DigitalPen/www.shutterstock.com


DigitalPen/www.shutterstock.com


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