EY report finds cracks in pharma supply chain operations
Ernst and Young's report highlights the importance of supply chain visibility for pharmaceutical resilience. The industry has faced global drug shortages due to supply chain issues. The report suggests that increasing visibility can reduce costs and improve operational efficiency. It advises companies to analyze their operations and utilize digital tools for better risk management. Artificial intelligence systems and third-party stakeholders can also help improve supply chain visibility. The pharmaceutical industry has experienced workforce cuts and asset divestment in response to high inflation rates. US Food and Drug Administration has reported shortages in various therapies.
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Frequently Asked Questions
Q: What did the EY report find in relation to pharma supply chain operations?
A: The EY report found cracks in pharma supply chain operations, emphasizing the importance of supply chain visibility for pharmaceutical resilience. Source
Q: How can supply chain visibility benefit the pharmaceutical industry?
A: The EY report suggests that supply chain visibility can be a viable route for pharmaceutical resilience. By improving visibility, pharmaceutical companies can better manage and mitigate supply chain disruptions. Source
Q: Where can I find the EY report about cracks in pharma supply chain operations?
A: You can find the EY report about cracks in pharma supply chain operations on the Pharmaceutical Technology website. Source
Q: What are the potential risks in pharma supply chain operations?
A: The EY report highlights that there are cracks or vulnerabilities in pharma supply chain operations, which can lead to disruptions and risks in the pharmaceutical industry. Improving supply chain visibility is seen as a way to mitigate these risks. Source
Q: How can organizations mitigate financial, operational, and reputational risks in supply chain operations?
A: The Transaction Forensics team at EY assists organizations and legal counsel in identifying and mitigating financial, operational, and reputational risks inherent to supply chain operations. Source