Value chain transformation is one of the most noticeable activity identified in the pharmaceutical industry due to increasing global expansion & penetration of companies, dynamic regulatory policies, and pricing competition. The three major components of the pharmaceutical value chain are discovery, drug manufacturing, distribution, and dispensing to the patient. Since last decade pharmaceutical industry has observed various changes and significant challenges such as rise of generics has ignited the intensity of competition, complex & niche product portfolios, large drugstore chains imposing high standards for OTC products, and downward pressure on prices by healthcare providers and government bodies. In addition to this, the increasing crisis of counterfeit drugs has forced pharmaceutical companies to transform robust and efficiently traceable value chains. The outsourcing model is most preferred model recently by all pharmaceutical companies operating globally with their R&D partners, suppliers, logistics partner, and contract manufacturing organizations Thus, Credence Research provides end to end assistance for our clients to enhance the performance of value chain and achieve swift, effective, and cost-efficient value chain.
There are key steps that can help any pharmaceutical company to enhance its value chain such as:
· Implementation of tailored supply chains for each product group different for off-patent and patent drugs
· Providing flexibility to packaging and product design functions by managing product demand volatility
· Manufacturing plants designed on the basis of inter-related products and therapeutic areas
· Creating a robust network of third-party suppliers across the regions
· Significant improvement in planning of product launches and high demand volatility along with SKU proliferation has high importance due to large scale shifts in the competitive environment
