While the challenges facing pharmaceutical and medical device supply chains can seem overwhelming, new technologies like multiparty network platforms and intelligent agents, have enabled new solutions that enable pharmaceutical and medical device companies to rapidly digitize and secure their supply chains, gaining better visibility, improved optimization and collaboration, better accountability, traceability, compliance and security.
Companies can now become demand-driven, using a real-time multiparty platform, powered by machine learning, to help synchronize supply to demand to improve customer service levels and optimize the flow of ingredients, drugs, parts and devices. And they can do it while lowering inventory levels, and reducing costs and waste throughout the supply chain.
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“We are better able to implement transformative changes. By that I mean five- or ten time improvements instead of 5% or 10% improvements.”
CIO, PARTNERSHIP FOR SUPPLY CHAIN MANAGEMENT