The Voice of Pharma Practitioners
LogiPharma 2022 event recap
Written by Ash Uchil, SVP Industry Solutions ParkourSC
After several years of the pandemic, it was nice to attend the LogiPharma conference in Nice, France and finally meet in person and meet with pharma and supply chain industry leaders. These change agents are implementing transformation, driving innovation, and solving challenges in the industry and this event was an excellent opportunity to discuss the pressing needs and successes of pharmaceutical companies worldwide.
The global attendees discussed several critical topics, including raising the effectiveness of the pharmaceutical landscape, especially with the increase in unexpected and unknown risks. One challenge thoroughly examined was modernizing supply chain operations and the underlying systems to handle changes quicker, sometimes instantaneously, as traditional system designs respond over longer cycles and are ineffective in today’s environment. Modernizing operations is vital to the industry, and supply-chain leaders realize the enormous cost of inaction - a single prolonged production-only shock is likely to wipe out up to 50% of one year’s EBITA.
The event delegates also discussed the urgent need to pivot supply chains from “a-point-in time” to “all the time,” which requires a radically different proactive approach to supply chain operations. This shift is well underway, yet it is complex; such a supply-chain modernization requires pulling together disparate systems, breaking down multi-organizational silos, and utilizing new tools and technologies. Having systems data available in real-time enables advanced analytics, which is indispensable. However, the data-driving advanced analytics are difficult to unearth, let alone organize to drive meaningful and actionable insights. Experts now look to AI and similar tools coming to their aid, as they are well aware that Advanced analytics has the potential to improve EBITA by 45-75%. These analytics facilitate continuous realignment between planning and real-time operations, by constantly ingesting and comparing ground-truth information with earlier planned expectations. Using these advanced analytics, the systems can now proactively provide intelligence and drive informed recommendations. The result – a superior, modern, resilient, and agile supply chain operation.
The good news is that based on the discussions we had at LogiPharma, pharmaceutical companies are up to this challenge! They are taking steps to harden and augment their supply chain operations to drive business value, to achieve up to 10% in procurement savings and 20% in better conversion rates.
A command center, such as the ParkourSC platform, provides these insights and models in real-time. While other cloud-based platforms require overhauling planning, control tower applications, and additional technologies, ParkourSC’s platform offers interoperability with incumbent systems infrastructure. It is not disruptive, but instead complementary. ParkourSC’s solution also provides ground-breaking functionality such as Digital Twins, which models scenarios and serves as a workbench for companies to leverage their own processes and workflows. ParkourSC offers an excellent way to add great intelligence to supply chain operations with ease.