What can the food industry teach pharma about the benefits of digital supply chain compliance monitoring and management?
Given the criticality of end-to-end quality assurance to pharma compliance, marketing authorisation and patient safety, it is puzzling that entire industry supply chains are not subjected to more rigorous, systemised scrutiny. Even today, the vast majority of drug manufacturers perform global supplier vetting, logging, updating and reporting manually. This outdated approach is fraught with risk, while its labour intensity can result in annual costs approaching 100,000 euros for smaller companies and over half a million for larger entities, to monitor and manage all suppliers.
The value of 360° supply-chain vigilance is something the global food industry has learnt the hard way, the fallout of contamination issues and other scandals. In response, most major food retailers have now digitalised their supply chain quality management and monitoring, despite the absence of formal regulatory frameworks.
Digitalisation of end-to-end supply chain quality monitoring and reporting offers several major advantages. Below are insights of what has been achieved across the food industry, through digitalisation of their global supply chain quality monitorin ...