Traditional pharmaceuticals are changing – the generics market continues to gain market share and advances in nanotechnology, stem cell research and other medical technologies are beginning to impact the production of mainstream medication. Consumer demand trends, changing legislation and geographic dispersion of patients are all changing the face of the industry, and indeed demanding the supply chain evolve with, if not ahead of, such market demands.
The Oxford Dictionary defines excellence as the quality of being outstanding or extremely good, and John W. Gardner said: “Excellence is doing ordinary things extraordinarily well”. When it comes to supply chain, excellence is an ideal most organisations strive for, but within the supply chain world, the definition of excellence is harder to express. On a very simple level – supply chain excellence is encapsulated in the oft-repeated phrase – “delivering the right product, in the right quantity, to the right people, at the right place, at the right cost, every time”. While this phrase rolls off the tongue quite easily, achieving this utopia of supply chain performance is slightly more difficult.
Consumers, corporate citizenry and regulation drive the demand for sustainable business practices
The last couple of years have undoubtedly been both extremely hopeful for sustainable business practices. The Paris Agreement was ratiﬁed faster than any other similar pact in history, and globally more and more organisations have taken real strides towards their goals of renewable and sustainable business practices. Locally, South African businesses and consumers alike are anticipating the introduction of the long-promised Carbon Tax Bill, which will see penalties levied against excessive carbon emissions.
Since the mid-90s, with the advent of accessible and exponential technology development, thought leaders within every field have touted the need for digitisation as the antidote to all ills.
Arguably, this race to adopt the latest technology has left a battleground scattered with failed organisations, who lost sight of their core value creating levers in their pursuit of digitisation, and suffered the ultimate price.
“Supply risk is defined as the probability of an incident associated with inbound supply from individual supplier failures or the supply market occurring, in which its outcomes result in the inability of the purchasing firm to meet customer demand or cause threats to customer life and safety”.