The Rising Importance of Pharma Supply Chain Visibility 🌍 In 2022, over 6,600 cases of counterfeit drugs were reported at hospitals, highlighting a growing threat. Ensuring high-quality standards and regulatory compliance in the pharma supply chain is not just a legal obligation but a moral imperative. The improper handling or storage of pharmaceuticals, many of which are temperature-sensitive, can directly impact patient safety. 💡 Harnessing AI and Machine Learning for Predictive Analytics AI and machine learning have revolutionised supply chain management, offering enhanced predictive analytics and risk management capabilities. 🔹 Precise Predictive Analytics: AI tools provide real-time data insights, enabling more effective predictive analytics. They can identify potential disruptions and suggest measures to avoid delays. 🔹 Disruption Forecasting: Machine learning models assess supplier risks, forecasting events that may hinder supplier obligations. This foresight allows pharma companies to prepare and strategise against potential disruptions. 🔹 Optimisation Suggestions: AI processes real-time data to suggest improved logistics routes. For example, AI-driven route planning helped Walmart avoid emitting over 94 million pounds of CO2 in 2023. As the digital age advances, pharma supply chain operators must: 🚀 Embrace Emerging Technologies: Leveraging AI, IoT, and ML can create a more transparent, agile, and effective supply chain. Embedding predictive analytics reduces risk and streamlines operations. 🤝 Prioritise Collaboration: Building strong relationships with suppliers enhances visibility and trust, laying the foundation for reliable business partnerships. Advanced collaboration also helps suppliers reduce risk, improving overall supply chain links. 🔍 Engage in Risk Management: Conducting thorough risk assessments and diversifying supplier links minimises risk, reducing potential disruptions in the supply chain. Want to dive deeper into how you can enhance your pharma supply chain visibility? 🔗 Read our latest blog post to explore more insights and strategies: https://lnkd.in/dGPRHQTs #PharmaSupplyChain #SupplyChainVisibility #AI #MachineLearning #RiskManagement #Prewave
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How can pharma companies optimize their operations? The potential of real-time visibility, AI and automation can be realized for operational leaders and LSPs thanks to a range of new platforms and apps. One example is Controlant’s Aurora Platform. “Synthesizing all the imperatives of “industry 4.0” into a logistical, pharma-validated solution, Aurora offers operations leaders unparalleled visibility and efficiency in supply chain management.” https://lnkd.in/gDWkPdjE #supplychain #pharmasupplychain #digitaltransformation
Optimisation in operations: from theory to practice - Pharmaceutical Technology
pharmaceutical-technology.com
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Supply Chain Head - Novartis Lifelong Learner,Optimist and Industry Enthusiast| Passionate about Reimagining Future of Supply Chain. Last Mile Delivery|Supply Chain Security|Supply Chain Digitalization
In a Discussion with Tech visionaries Today and Last few weeks on How AI Revolutionizes Pharma Supply Chain Demand Planning ? How the newly introduced software can practically help us to Ensure consistent availability of medications while optimizing costs and minimizing waste? What AI can help us for ? * Uncover hidden patterns: AI analyzes vast datasets to identify trends missed by traditional methods . * Account for external factors: Real-time data on weather, disease outbreaks, geopolitical tensions etc., is incorporated for dynamic adjustments. * Predict demand fluctuations: Proactive adjustments to production, procurement, and logistics are enabled . Other benefits like : * Reduced stockouts and overstocking: Optimal inventory levels minimize disruptions and unnecessary costs avoiding WO due to over stock or OOS due to sandbagging conventional methods. * Enhanced forecasting accuracy: Better planning leads to efficient resource allocation. * Proactive risk management for Potential disruptions * Personalized medicine like Cell and Gene and orphan drugs for rare diseases where AI factors in individual needs and disease prevalence in specific markets for targeted demand planning. * Reduces carbon footprint and improves operational sustainability and our commitment to mother earth and future generations. Yet I believe The Future will be in Integration of HUMAN INTELLIGENCE WITH ARTIFICIAL INTELLIGENCE in solutions holds promise for further streamlining supply chains in way that improving patient lives / Experience ! I am waiting for your insights and Views 🫡 #ai #supplychain #supplychaininnovation #supplychainresilience #machinelearning #sustainability #sustainablebusinessstrategies
Inefficiencies in Pharmaceutical Supply Chain Cost. Leveraging AI in Drug Supply Chain Management - nexocode
nexocode.com
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Transformative Leadership I Sales Strategy & Growth I Diversity, Equity, Inclusion and Belonging I Thought Leader
🚀 Transforming Pharma Operations with AI! In the ever-evolving landscape of pharma, AI is not just redefining #drugdevelopment but is also unlocking colossal value in procurement and supply chain management. 🤖 🎯 Streamlining Sourcing and Procurement: AI tools are reshaping the game, simplifying supplier sourcing and procurement processes. From swift supplier searches based on specific criteria to inviting vendors to bid, AI is #revolutionizing these traditionally laborious tasks. Efficiency and cost savings take centre stage in this AI-powered transformation. ⚖️ Minimizing Risk and Costly Mistakes: Supply chain risks, from quality issues to counterfeit medicines, are constantly challenging. Enter AI solutions—fraud detection, risk assessment, predictive analytics, and contract review. AI swiftly navigates vast datasets, providing procurement professionals with crucial information, and #empowering proactive risk management. 🌿 Greener Procurement for a Healthier Planet: Climate change concerns demand sustainable practices. AI plays a pivotal role by offering visibility into suppliers' #sustainability goals. This transparency empowers fact-informed decisions, driving positive change in green logistics from the sourcing stage. AI-supported strategic sourcing aligns with ESG goals, ensuring a greener pharma future.💚 🚀 Efficiency and Agility Unleashed: AI isn't just a buzzword; it's a potential $100 billion annual game-changer for the #pharmaceuticalindustry. Overhauling archaic procurement processes, AI brings digitization, real-time visibility, and centralization. The result? Operating #efficiencies and #agility that propel pharma into a future of competitiveness, intelligence, and resilience. As AI continues its stride, pharma embraces a new era of #innovation, efficiency, and environmental responsibility. 📊 #PharmaAI #innovationinhealthcare #futureofpharma #aisolutions #pharmainnovation #riskmitigation #supplychainresilience #sustainableprocurement #AIforClimate #AIDigitization #SymmetricTraining
Taking stock: AI beyond drug development
pharmamanufacturing.com
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According to Swiss Re's AI report, the pharmaceutical industry is expected to be the most adversely affected by AI in the next decade. While IT services currently bear the brunt, pharmaceuticals will take the top spot by 2032. RSM UK, Partner Clive Makombera (FCCA) warns that the opportunities must be balanced with the risk as the healthcare and health sector wades into further AI usage. #AI #healthcare #pharmaceuticals
Swiss Re: Pharma, Not IT, to See Most Adverse Effects of AI
aimagazine.com
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https://lnkd.in/dV8e9vqC Here are key links that can assist enterprises with their data and AI journey as part of the regulatory and management reporting cycles: Biotech / Pharma - https://lnkd.in/gtxD_672 Are you ready for the new Global ESG reporting Standards? - https://lnkd.in/gnms3fy7 Close, consolidate, and reporting - https://lnkd.in/gARHRXB4 Blog – Ways that Scenario Planning is Essential for your Business Plan - https://lnkd.in/g2M6Rka4 Blog - How is AI and Machine Learning Changing the Way We Manage the Supply Chain - https://lnkd.in/g7MUPUca
Global Pharmaceutical industry to reach $1.5 Trillion by 2023
https://www.reogma.com
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Ready to enter the next era of pharmaceutical innovation? Whether you’re leading supply chain efficiency or driving digital transformation, learn how Intelligent Automation is shaping success. It’s time for the #pharmaceuticalindustry to evolve from buzzwords to breakthroughs and achieve zero waste in its #pharmasupplychain
Artificial intelligence vs. intelligent automation in the pharma supply chain
controlant.com
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DXC and AWS are helping organizations build and scale Generative AI to accelerate growth, boost revenue, and increase productivity across industry. Generative AI represents a tectonic shift for business of all sizes and specialties. The technology can be leveraged to accelerate pharmaceutical drug approvals, optimize quality controls in manufacturing, deploy self-service intelligent contact centers, create highly customized content for retailers, and much more. #dxctechnology DXC Technology BENELUX #aws #genai
Video: the tectonic impact of generative AI
genaiaccelerator.cio.com
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Excellent report highlighting the chapter on Accelerating speed of time to value in R&D. Drug development's pace and cost pose challenges, yet AI technologies present promising solutions for expediting the process. Stakeholders are urged to prioritize adopting AI for enhanced efficiency, refining data management, nurturing talent, prioritizing time-to-market for treatments, and fostering inter-organizational collaborations. #AI #R&D #Innovation #ClinicalLogistics
2024 Global Life Sciences Sector Outlook
deloitte.com
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Is Digital Transformation the Key to Pharma's Operational Excellence? Are we ready to embrace the digital revolution in the pharmaceutical industry? It's a world of data-driven decisions, optimized #supplychains, and accelerated #researchanddevelopment via #AI. But what about #challenges like #datasecurity, integration complexities, and workforce upskilling? Is the industry prepared to meet and beat these challenges for improved healthcare outcomes? Dive in for more! https://lnkd.in/gvQj4xWm #pharmaceuticalindustry #pharmainnovation #digitaltransformation #healthcarerevolution #pharmatech
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Channels & Alliances Director
3wIndeed, the visibility in Pharma Supply Chain is very important. To be sure to have the full visibility you need to be connected with all your customers, suppliers, 3PLs etc. This is what TraceLink offering to the industry. Happy to discuss that further with you Alexis Hartmann and Tom Hiller