Pharmaceutical Supply Chain Management Market: Leading SCM Solutions

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Pharmaceutical Supply Chain Management Market
Leading SCM Solutions
Supply chain management (SCM) entails the
successful administration of supply chain
operations designed to increase profits and
provide a better customer experience.
The process also ensures that products are
manufactured as planned and become available in
hospitals, pharmacies, and other health
services on time. According to Inkwood
Research, the global pharmaceutical supply chain
management market is projected to progress with a
CAGR of 8.84 between 2023 to 2032, capturing a
revenue share of 5289.53 by 2032.
The success of a manufacturing organization
depends greatly on the efficacy of
the supply chain as a whole. If a certain
link in the chain is disrupted or weak,
it could jeopardize the entire chain. Supply
chain management, in this regard, is
essential to
help organizations remain agile, while handling
unexpected issues or variability that may
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• occur. By streamlining supply chain processes
  and increasing visibility, pharmaceutical
  businesses can diagnose problems and find
  suitable solutions more swiftly. According to
• Inkwood Research, the solution segment is set to g
  row with a CAGR of 8.67 between 2023 to 2032.
• An effective and streamlined pharmaceutical
  supply chain includes the implementation of
  various strategies as well as technologies in
  order to provide customers with unique added
  value.
• Aligning with this, this blog explores how
  leading companies are focusing on the development
  of advanced technologies to enhance
  pharmaceutical supply chains globally
• Infor Cloverleaf Integration Suite
  The Infor Cloverleaf Integration Suite
  streamlines clinical data exchange to
  enhance business operations and medical
  outcomes. Utilized by more than 1/3 of
  hospitals in the United States and deployed in
  36 nations, the software enables healthcare
  organizations to securely resolve complex
  interoperability difficulties. It does so at
  a scale using the latest, state-of-the-art
  standards, including Fast
  Healthcare Interoperability Resources
  (HL7 FHIR).
• Tecsys Elite Pharmacy Inventory Management
  System (PIMS) In August 2021, Tecsys Inc
  (Canada), a leading supply chain
  management software company, announced its
  collaboration with Indiana-based Parkview Health
  to fortify its pharmacy operations with Elite
  Pharmacy Inventory Management System (PIMS).
  Through this implementation, Parkview Health
  will be able to source the best drug pricing
  advantages while ensuring regulatory compliance,
  auto-generate replenishment orders, and
  managing vendor and purchasing invoice
  matching via EDI data exchange.
• Vizient Supply Chain Operations
  Services In 2021, Vizient (United States)
  announced the launch of its set of solutions
  aimed at improving healthcare supply chain
  resiliency through greater predictability
  and transparency across trading partners.
  These solutions will provide risk management
  services for a providers critical supply list
  and improved visibility into supplier
  distribution as well as manufacturing sites.
• McKessons Healthcare Distribution Center
  In October 2022, McKesson Corporation
  (United States) established a new
  state-of-the-art pharmaceutical distribution
  center in Jeffersonville, Ohio. The new
  facility is set to distribute over-
  the-counter (OTC), pharmaceutical, and home
  healthcare products, in addition to
  consumer-packaged goods (CPG), to customers
  across Kentucky, Ohio, Indiana, Michigan,
  Pennsylvania, and West Virginia.
  Strategically located to cater to

customers across the region, the
distribution center is equipped with
automated
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• putaway, replenishment, and order-filling
  processes. Moreover, it also entails a
  robotic palletizer and tote washer for handling
  significant volume growth over time.
• SAP Information Collaboration Hub for Life
  Sciences Operating on the SAP Business
  Technology Platform (SAP BTP) and
  leveraging SAP Blockchain Business Services,
  SAP Information Collaboration Hub for Life
  Sciences is the first public-cloud,
  industry-specific business network utilized
  by over 45 pharmaceutical firms. Moreover, it
  is also implemented across 1,500 trading
  partners as well as 80 of COVID-19 vaccine
  manufacturers.
• TotalVue Analytics OptiFreight Logistics, a
  Cardinal Health (United States) company,
  announced the launch of TotalVue Analytics in
  January 2021. The tool primarily caters to
  healthcare supply chain leaders, enabling them to
  use predictive technology as well as data in
  order to detect logistics savings and
  benchmarking. TotalVue Analytics also
  provides health systems with visibility into
  shipping trends. Subsequently, this helps in
  identifying opportunities to reduce freight
  costs, including outbound shipments from
  sites and inbound shipments from suppliers.
  The companys technology platform allows
  customers to track shipments in real- time
  and optimize their transportation expenditures,
  as well.
• Additionally, in order to mitigate future
  risks and minimize dependence on foreign
• suppliers, various pharmaceutical companies
  are also diversifying their supply chains
  and establishing local production facilities with
  the latest technologies.
• Improving Patient Safety AIs Role in Optimizing
  Pharmaceutical Supply Chains
• The novel coronavirus pandemic has expedited
  the adoption of digital solutions such as
  blockchain, cloud computing, the Internet of
  Things, as well as artificial intelligence in
  supply chain management. Artificial intelligence
  is a remarkable example of a disruptive,
  cutting-edge technology incorporated
  into supply chain management systems,
  subsequently contributing to the
  healthcare industrys rapid expansion,
  improved efficiency, and increased patient
  safety.
• When integrated with predictive analytics and
  machine learning, the artificial intelligence
  (AI) transformation in supply chain management
  delves deeper than smarter functions
• in essence, it holds the potential to
  address some of the greatest challenges
  in
• pharmaceutical supply chain management. For
  example, an AI-based pharmaceutical

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supply chain can help validate product
legitimacy, authenticate medical devices, and
track counterfeit products, thus contributing to
effective patient care. As per the article, Role
of Artificial Intelligence in Patient Safety
Outcomes, AI-enabled decision support systems,
when correctly implemented, can help facilitate
patient safety by improving error detection, drug
management, and patient stratification. These
factors, in turn, are set to play a
pivotal role in strengthening the global
pharmaceutical supply chain management market
growth during the forecasting years. FAQs What
are cold supply chain pharmaceutical
products? Cold chain pharmaceutical products are
characterized as goods that must be stored at
a certain temperature in order to maintain
optimum safety and quality. These products
include vaccines, gene therapies, biologics, and
components of cells. What are some of the key
challenges addressed by pharmaceutical supply
chain management? Drug counterfeiting,
compliance-related issues, risk of OTIF (a
measurement of logistics or delivery performance
within a supply chain) failures, and problems in
the collection and analysis of large volumes of
data are some of the key challenges addressed by
pharmaceutical supply chain management.