Pharmaceutical Supply Chain Management Market: Leading SCM Solutions (1)

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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
ensures that pharmaceutical 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 million by 2032.
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Supply Chain Management Market
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ical-supply-chain-management- market/request-free
-sample 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 occur.
By streamlining supply chain
processes and increasing visibility,
pharmaceutical businesses can diagnose problems
and find
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• suitable solutions more swiftly. According to
  Inkwood Research, the solution segment within
  pharma supply chains is set to grow with a CAGR
  of 8.67 between 2023 to 2032.
• An effective and streamlined pharmaceutical
  supply chain includes the implementation of
  various strategies and technologies 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 supply chains for the
  pharmaceutical industry globally
• Infor Cloverleaf Integration Suite This 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, it
  enables healthcare organizations to securely
  resolve complex interoperability difficulties at
  scale using the latest 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 PIMS. This system
  allows Parkview Health to source the best drug
  pricing advantages while ensuring regulatory
  compliance, auto-generate replenishment orders,
  and manage vendor and purchasing invoice matching
  via EDI data exchange.
• Vizient Supply Chain Operations Services In
  2021, Vizient (United States) launched a set of
  solutions aimed at improving healthcare supply
  chain resiliency through greater predictability
  and transparency across trading partners. These
  solutions provide risk management services for a
  providers critical supply list and improved
  visibility into supplier distribution and
  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. This facility distributes
  over-the-counter (OTC) pharmaceutical and home
  healthcare products, as well as consumer-packaged
  goods (CPG), to customers across several states.
  Equipped with automated putaway, replenishment,
  and order- filling processes, it also includes a
  robotic palletizer and tote washer to handle
  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, this hub is the
  first public-cloud, industry-specific business
  network utilized by over 45 pharmaceutical firms.
  It is implemented across 1,500 trading partners
  and 80 of COVID-19 vaccine manufacturers,
  showcasing the future of the pharmaceutical
  supply chain.
• TotalVue Analytics OptiFreight Logistics, a
  Cardinal Health (United States)

company, launched TotalVue Analytics in January
2021. This tool enables healthcare
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supply chain leaders to use predictive technology
and data to detect logistics savings and
benchmarking. TotalVue Analytics provides health
systems with visibility into shipping trends,
helping identify opportunities to reduce freight
costs and optimize transportation expenditures
through real-time shipment tracking. To mitigate
future risks and minimize dependence on foreign
suppliers, various pharmaceutical manufacturers
are diversifying their supply chains and
establishing local production facilities with the
latest technologies. Stay Up-to-Date with the
Latest Pharmaceutical Supply Chain Management
Market 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, and artificial
intelligence (AI) in supply chain management. AI
is a disruptive, cutting-edge technology that,
when integrated with predictive analytics and
machine learning, can significantly enhance the
digital pharmaceutical supply chain management,
contributing to improved efficiency and patient
safety. AI-enabled decision support systems
facilitate patient safety by improving error
detection, drug management, and patient
stratification. These advancements play a pivotal
role in strengthening pharmaceutical supply chain
functions, addressing some of the greatest
challenges in managing the drug supply chain. For
example, an AI-based pharmaceutical supply chain
can help validate product legitimacy,
authenticate medical devices, and track
counterfeit products, contributing to effective
patient care. In conclusion, the future of the
pharmaceutical supply chain is increasingly
reliant on advanced technologies and strategic
innovations. By embracing these developments,
Pharma Supply Chain Leaders can ensure greater
supply chain transparency, enhance supply chain
operations, and support the fundamentals of the
pharmaceutical supply chain to meet the evolving
needs of the healthcare industry. Frequently
Asked Questions (FAQs) 1. What are cold
supply chain pharmaceutical products? A 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. 2. What are some of the key challenges
addressed by pharmaceutical supply chain
management? A 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.