Importance of Supply Chain Management One of the key factors driving an organization’s operational value is the presence of an efficient and consistent supply source. Supply chain management has become indispensable for organizations to survive in today’s competitive market and ensure minimal production downtime. Supply management helps organizations to streamline their operational structure starting from […]
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Importance of Supply Chain Management
One of the key factors driving an organization’s operational value is the presence of an efficient and consistent supply source. Supply chain management has become indispensable for organizations to survive in today’s competitive market and ensure minimal production downtime. Supply management helps organizations to streamline their operational structure starting from inventory management to dealing with any possible incidents of disaster management. A supply chain management process involves designing, planning, executing, controlling, and monitoring of supply chain activities. This helps the organization develop a competitive infrastructure, create market net value, support worldwide logistics, synchronize demand and supply, and measure performance globally.
Pharmaceutical Drugs Industry Overview
The pharmaceutical drugs industry is undoubtedly one of the world’s most thriving and ever-growing markets. Growing population, their rising need for health care and the lack of available health care services, and innovations are some of the factors that have been driving the pharmaceutical drugs industry. 
In addition, the rising occurrence of chronic diseases has prompted the development of various pharmaceutical drugs, which subsequently results in business growth. However, recent market trends are indicating a sluggish growth rate for the pharmaceuticals drugs industry. Factors like the introduction of patient-centric healthcare and changing rules and regulations are slimming demand scopes for the pharmaceutical drugs manufacturers since the patients are more actively involved in the healthcare process and cannot be blindly prescribed with a series of pharmaceutical drugs. Moreover, the insurgence of biosimilar drugs, which are the cheaper versions of the otherwise complex and more expensive drugs, are affecting the competency of some of the eminent pharmaceutical drugs companies.
Continue reading to know how the supply chain management strategy helped a leading pharmaceutical drugs manufacturer tackle the supply management complexities.
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