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.