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Supply Chain Management in Pharmaceutical Industry: Opportunities and Challenges for Retailers
Abstract
In this research paper, author has studied top pharmaceutical companies around the globe and their relationship with pharmacies. Based on the analysis author has identified current challenges their supply chain is facing and how IT can help them to make their supply chain more responsive and reliable. IT framework which can address the supply chain challenges has also been proposed here. Second part of the paper deals with how retailers can help the industry to overcome these challenges. Pharma companies need to partner with pharmacies for a win-win situation and this partnership can address most of the challenges being faced by the industry. This partnership will help in various ways like getting accurate information across the entire chain at any point and at any location, Instant access to real-time demand by the end user, visibility of all handovers in the supply chain and helps in setting-up seamless collaboration between all parties.
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