The global lockdown presented a completely new set of challenges to the Pharma industry. It also proved to be the most crucial time in accelerating digital transformation. While supply chain in any industry is a challenge, in the life sciences sector it has an added complexity. A continuous and robust supply chain is pivotal in pharma, medical devices and healthcare, as breakage at any point can directly impact the safety and health outcomes of patients.
Resilience in supply chain was always the need of the hour, but the recent COVID pandemic has re-emphasized the point and forced the industry to rethink their priorities. Constantly changing regulatory and compliance guidelines keeps challenging the healthcare industry in newer ways. For example, ‘Drug Supply Chain Security Act’ has mandated the use of electronic, interoperable track & trace system including assigning unique digital IDs3 to product units (serialization) by 2023 by all pharmaceutical industry. Considering the challenges and being highly regulated, the pharma supply chain system needs to be highly adaptable, agile, interoperable, and smart to cater to the industry demands now, and in the future. Delve into the whitepaper to know how innovative technologies like blockchain, AI / ML and IoT can address the supply chain challenges in the Pharma industry.