shuklamojumder02
Dołączył: 06 Mar 2024
Posty: 1
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 Pharmaceutical Supply Chain |
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The pharmaceutical supply chain has been in trouble this year, as COVID-19 has tested healthcare systems around the world. There is no doubt that the pandemic revolutionized the pharmaceutical industry. In the following Slimstock Knowledge article we will provide information on how to optimize the pharmaceutical supply chain. Pharmaceutical Supply Chain Challenges One of the challenges of the pharmaceutical supply chain is inventory management. During this period, many items like surgical masks, sanitizers, thermometers, and essential medicines are flying off the shelves. Consequently, bankruptcies cannot be replenished quickly enough to keep up with growing demand. In the world of the pharmaceutical supply chain , the impact of stockouts is much greater compared to other industries. Revenue and profits are definitely affected.
However, for pharmaceuticals, inventory problems put lives at risk. The COVID-19 pandemic forced both businesses and governments to open their eyes to the importance of supply chain strategies and inventory management processes. As How Ti Hwei, president of the Pharmaceutical Industries Japan Telegram Number Data Association of Singapore, highlights: “Companies and governments around the world are creating large active pharmaceutical inventories (APIs) and medicines to ensure that supply is not interrupted.” However, building large inventories to achieve and maintain high service levels is one thing. On the other hand, generating high levels of inventories as a result of a lack of control or fear of lack of existence is a completely different situation.
Get Actions Appropriately Offering the right level of service has always been one of the main objectives of the pharmaceutical supply chain . Stock shortages can lead to life or death situations. Although they expect 100% availability, supply chain leaders understand that this is neither an achievable nor a beneficial goal to aim for. We invite you to delve deeper into the topic in one of our articles especially focused on the level of service in pharmaceutical distribution >> . Given the risk of obsolescence and the cost of holding inventory, holding excess stock can have a hugely adverse impact on profit margins and unnecessarily tie up valuable working capital. As a result, there is a need to balance service with working capital and operating inventory cost. To provide the desired level of service while protecting against fluctuations in demand, the correct safety stock must be calculated for each product.
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