Highlights
This year this % of the Top 50 supply chains come from the life sciences industry.
What is 20%?
Initiatives that are underway, but still in their infancy that promise to deliver retailer and/or consumer products-like information collaboration, that promise to improve the flow of products and service, and reduce costs and inventory.
What is digital orchestration?
Most life science companies benefited from this component change.
What is ESG?
This company is considering their customers in a more holistic manner, as evidenced by the FreeStyle Libre system it introduced for glucose monitoring.
Who is Abbot?
When the COVID-19 pandemic struck this year, the industry’s supply chains were already in transition, thanks to trends, such these.
What is personalized medicine and the impact of digital technology?
This company had the highest inventory turns.
Who is AbbVie?
Vaccine manufacturers are leveraging social media posts to help them pinpoint where outbreaks are occurring. & Medical device companies are leveraging cloud technology to monitor field and consigned inventories; and Internet of Things devices are allowing better shipment monitoring to ensure product quality, and prevent theft and counterfeiting to accomplish this better.
What is visibility?
For some companies, the change to this measure had an even more significant impact on results.
What is ROPA?
These leading companies are partnering with wholesalers and distributors to gain real-time insight into inventory levels that are outside of their span of control with technologies.
Who is Cardinal Health?
or
Who is GE Healthcare?
These companies match the supply chain lead times with clinical need, which is often just a few weeks.
Who are Novartis and Kite?
These companies tied for the highest ESG.
Who are Bayer, Novartis, Sanofi?
Leaders are prioritizing working with customers and key partners to improve all aspects of the end-to-end supply chain, improving costs and outcomes for patients to accomplish this.
What is collaboration?
The scoring contribution of inventory turns was reduced from this amount.
What is 5%?
This company received the highest rank.
Who is J&J?
This company has developed analytics capability that offer insight to freight lane selection from data mining of temperature logger data.
Who is Novo Nordisk?
The average composite score increased this amount.
What is 27%?
We’re seeing these improvements in areas like this, where personalized medicine requires a level of responsiveness that, in turn, requires completely redesigned supply chains.
What is agility?
Financial metrics used for each company were from the most recently completed fiscal year as of early 2020; this means that the impacts of this had not influenced the quantitative scoring components.
What is COVID-19?
This company is part of a consortium of companies looking to find value in the promise of blockchain to secure the drug supply chain.
Who is Amgen?
This company is a perennial leader of the Access to Medicines Index, which requires a supply chain commitment along with pricing, management and R&D.
Who is GSK?
Bayer through it's work with local farmers in Argentina and nongovernmental organizations to ensure that its customers are employing sustainable farming practices is utilizing this practice.
What is purpose-driven?
Personalized medicine requires supply chains that are X&Y.
What is Agile & Responsive?
This is how many Life Sciences companies were featured.
What is 10?
This company is taking specific steps to improve the resiliency of its supply chain as well as those of other pharma companies by creating an EU-based entity specifically focused on active pharmaceutical ingredient production.
Who is Sanofi?
This company is notable for being one of the first two companies to receive FDA approval for a personalized medicine solution.
Who is Novartis?