Digital Transformation in the European Life Sciences Supply Chain: Enabling Efficiency, Safety, and Transparency

Digital Transformation in the European Life Sciences Supply Chain: Enabling Efficiency, Safety, and Transparency

This IDC Perspective examines the role of technology in supply chain transformation, discussing the potential of 3rd Platform technologies and Innovation Accelerators (e.g., cloud, mobile, Big Data analytics, and IoT) to support the critical aspects of supply chain performance, leading to improved safety and reliability, transparency, and efficiency. This study also provides essential guidance for life sciences manufacturers and their supply chain partners that wish to embark on a digital journey for their supply chain transformation in European markets. "European life sciences companies need to invest in traceability and information management solutions to avoid delays and penalties related to upcoming regulations such as FMD and IDMP. However, they should also make sure these investments are part of a wider supply chain digital transformation, looking beyond pure compliance and prioritizing initiatives that consider the transition toward new outcome-based business models," said Silvia Piai, senior research manager, IDC Health Insights. "Never before has the pharmaceutical industry had an opportunity to gain a holistic, 360-degree view of and control over their supply chains through 3rd Platform technologies.""European life sciences companies should capitalize on this opportunity to turn their supply chains into a source of competitive advantage," added Nino Giguashvili, senior research analyst, IDC Health Insights.

Executive Snapshot
Situation Overview
Life Sciences Supply Chain Transformation in Europe: A Call for Action
Life Sciences Supply Chain Transformation: The Pressure Is Real
Evolving Regulations Call for Improved Safety and Transparency of Supply Chains
Innovative Products in the R&D Pipeline Call for New Manufacturing and Distribution Models
Value-Based Healthcare Models Call for Agile and Efficient Supply Chains
Neglecting Supply Chain Optimization Already Affects the Whole Company
The New Digital Platform for Life Sciences Supply Chains
Three Areas of Impact and Performance Dimensions
An Intelligent Core for Life Sciences Digital Transformation
The Next Generation Life Sciences Supply Chain Platform is Cloud Native
Transparency, Automation at the Asset Level Through IoT
Cold Chain Management
Building Trust: Next-Generation Security as a Competitive Advantage
Transforming Information into Action, Mitigating Risks: The Role of Big Data and Analytics, Artificial Intelligence
Advice for the Technology Buyer
Beyond Compliance: Challenge Becomes an Opportunity
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