Pharma Transformations for Supply Chain/Digital

Goals

Identify and detail the ways in which management consultants are being used by pharmaceutical companies during the COVID-19 pandemic specifically for digital transformation and supply chain management purposes.

Early Findings

Supply Chain Management

  • McKinsey & Co. specified five specific areas that they are focusing on for their customers to help stabilize supply chains during the COVID-19 pandemic specifically. These areas are 1) supplier engagement, 2) inventory management, 3) production and operations, 4) demand management, and 5) logistics.
  • Accenture is recommending that health care companies make stronger use of digital communications via social media, hotlines, and virtual assistance to keep customers in the know about resource capacity, changes, etc.
  • The Boston Consulting Group (BCG) recommends that pharmaceutical and medtech supply companies utilize "sophisticated analytics and scenario modeling" in order to better understand the current state of their supply chains, and where they can improve to sustain needs during this time.
  • The BCG also suggests that pharma companies do pressure-testing on their supply chains based on potential outcomes from the COVID-19 pandemic, in addition to search for alternative or additional suppliers and increasing production.
  • ProPharma Group recommends that pharmaceutical companies seek assistance from consultancies that are well-versed in 21 CFR 211.34 during this time to ensure they are meeting CGMP requirements for drugs that they are manufacturing in response to COVID-19.
  • Bain & Co. says that companies should accelerate SKU production to successfully accommodate online demand.

Digital Transformation

  • Clark Consulting recommends that pharmaceutical companies work to consolidate their data into a single place for easier access during the COVID-19 pandemic.
  • Clark Consulting also suggests that pharma companies build a feedback loop or analytics platform to help them learn and grow, as well as developing better customer education programs to inform consumers of products during this time.
  • Bain & Co. states that companies should shift their focus to online retail as their main source of business. For some, this should include an auto-replenisment feature to ensure that product is always available.
  • ARC Advisory Group suggests that biopharmaceutical companies work to improve their cybersecurity and data integrity during the COVID-19 pandemic, and ensure that employees are fully trained in these new changes before proceeding.
  • ARC Advisory Group also states that data integrity during this time is vital to ensuring FDA compliance during this time and prove the nature of intent.

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