Over the years, the biopharmaceutical industry has been facing increased pressure from the end-user segments to develop medicines to prevent and cure diseases effectively. Additionally, establishments across the biopharmaceutical industry have been forced to bridge the demand-supply gap owing to the rise in customer demands and expectations. Through a robust supply chain risk analysis, leading firms in the biopharmaceutical industry can reduce supply disruptions and longer lead times. Also, firms operating in this industry space can gain better visibility into their supply chain processes and increase their performance.
Moreover, SpendEdge’s supply chain risk analysis help leading procurement establishments in the biopharmaceutical space to comprehensively collect, analyze, and manage supplier information.
The Procurement Pain Point and Insights Offered
A global biopharmaceutical industry client was facing predicaments in understanding the supply structure and the typical risks associated with them. As a result, they wanted to understand the risks that are likely to impact the profitability of the business, supply trends, and forecasts across the supply chain. Additionally, the client wanted to ensure robust production and delivery competencies and cut down issues related to sales losses.
With years of proficiency in offering a wide range of procurement and sourcing solutions, SpendEdge’s supply chain analysts carried out a blended research methodology, which included primary and secondary research coupled with quantitative and qualitative data collection methodologies to address the client’s business issue.
During the course of this supply chain risk management study, the biopharmaceutical industry client was able to categorize and mitigate risks associated with supply chain functions. Furthermore, the client was able to comprehensively collect, analyze, and manage supplier information and gain insights into the potential financial issues in the industry space.
Fundamental questions answered in this supply chain risk analysis study include
The supply chain risk engagement helped the client identify potential threats and devise effective strategies to gain better visibility into the contract, spend, and compliance management. Additionally, the client was given real-time strategic insights into the risk factors affecting their growth.