For companies in the biomanufacturing industry, an efficient supply chain is the best way to meet demand and reduce costs, according to The 21st Century Supply Chain. The site reports that the biomanufacturing industry saw a 632-percent increase in employment between 2006 and 2011, and job numbers are still growing.
As the the baby boomer population continues to grow, many new medicines are in the works for diseases such as Alzheimer's and cancer. New drugs are constantly awaiting approval by government oversight agencies, and demand is high when they hit the market, so pharmaceuticals will be a major contributor to growth in the biomanufacturing supply chain.
One reason that the industry needs a strong supply chain is because of the tight schedules, high demand and costly research and development needed to bring pharmaceuticals to market. Once the Food and Drug Administration's approvals are given, products must be manufactured and distributed effectively.
Some of the biomanufacturing industry's biggest pain points are keeping up with demand and accurate forecasting in order to achieve continual improvement.
The article identified three key takeaways to improve the biomanufacturing industry:
- Lowering costs while increasing speed
- Adjusting demand quickly based on more accurate forecasts
- Acquiring the ability to increase capacity when needed and using the same facility for multiple materials
Improving Data Collection For Pharmaceutical Manufacturing Organizations
All companies can benefit from data that is accurate and timely, and drug manufactures are no exception. Automated and mobile data collection provides tracking information, useful metrics about suppliers and distributors and improves production in the facility.
With data collection software that integrates with existing ERP systems, supply chain managers for pharmaceutical companies will have access to information in real time, allowing them to generate much more accurate forecasts. The ability to respond more quickly to changing demand for their drugs will save time and money.
Tracking Improves Recall Situations
Pharmaceutical companies can also be subject to a recall, should there be questions that a drug was tampered with, its potency is incorrect or its safety has come into question. Completing this recall effectively requires traceability that can only be achieved with advanced data collection solutions.
Avoiding a lawsuit, damage to brand loyalty and even bankruptcy requires a company to locate products within hours, not days or weeks. Following a paper trail to complete this task would be nearly impossible given the timelines most companies are allowed by government agencies to complete a recall.