IoT, cloud computing, data analytics, AI, real-time visibility – all phrases that once struck fear into the hearts of pharma supply chain chiefs, but are now accepted as elements in any future-proof supply chain toolkit. The sector is undergoing a significant shift as its leaders weave digital innovations into well-founded manual processes across their value chains.
This shift is bringing its fair share of challenges. A recent survey from GlobalData asked healthcare and pharmaceutical professionals across the globe how they were approaching digital transformation in their companies. One prominent challenge that emerged was shortage of specific digital skills and talent, cited by nearly half of respondents; many companies struggle to find tech-savvy individuals who can drive new digital agendas forward, and new education pipelines of digitally skilled professionals are yet to fully mature. Funding constraints also pose a problem, with 40% of respondents identifying insufficient budgets as a major barrier to change. Prolonged inflationary pressures and economic uncertainties have led some companies to scale back on their digital investment plans. And organisational silos, highlighted by 36% of survey participants, further complicate digital transformation efforts. Forward-thinking pharmaceutical companies need to promote cross-departmental collaboration and invest in unified digital platforms to make communication and integration between teams feasible.
Amid these challenges, what is continuing to drive digital transformation forward? What should its advocates focus on? And how can pharma firms implement new digital strategies effectively and efficiently?
Catalysts for change
Digital transformation across the healthcare sector has been gathering momentum for decades. But the Covid-19 pandemic turbocharged it. Nearly three-quarters of industry professionals agree that the pandemic had the most significant impact on digitalisation efforts, with 58% stating that it has sped up transformation processes within their organisations. The need for virtual and remote solutions during national lockdowns, such as decentralised clinical trials and telemedicine, highlighted the importance of digital tools in maintaining business continuity and patient care.
Pharmaceutical companies who moved quickly have been able to capitalise on the lessons learned. Many have incorporated digital solutions into their long-term strategies. Remote patient monitoring and decentralised clinical trials are becoming industry standards, offering flexibility for patients and trial teams alike. By leveraging wearable devices and telemedicine, firms can collect real-time data, building robust foundations for R&D and enhancing patient care beyond traditional clinical settings.
Areas of focus
With digital transformation well underway in the pharmaceutical industry, the question is not whether firms should start to make changes, but when and in what areas. GlobalData findings points to operations enablement and innovation as the central focus of current digital transformation efforts, with two-thirds of professionals pointing to these as priorities. Advanced technologies are enabling firms to automate complex processes like drug discovery and clinical trial management – significantly reducing costs and improving efficiency.
Customer engagement has also become a critical area of attention in digitalisation efforts. Over half of industry leaders hope to enhance how they connect with healthcare professionals (HCPs) and patients. Integration of digital platforms allows them to do just this, facilitating targeted outreach and data-driven insights into client behaviour.
But the biggest headlines in pharma’s digital transformation are surely being made by AI. As part of GlobalData’s “Artificial Intelligence in Pharmaceuticals” report, a range of healthcare experts were asked which technologies they believed would make the biggest industry splash over the course of 2024. AI was favourite – and the hype is yet to die down. Pharmaceutical leaders are heavily investing in AI, big data and cloud computing to drive digital transformation. AI’s ability to accelerate drug discovery, optimise clinical trials and personalise patient care is revolutionising the pharmaceutical value chain. Big data backs this up, providing insights into patient behavior and outcomes, enhancing R&D efforts and refining marketing strategies.
Digital transformation: the next steps
The pharmaceutical industry is on the brink of upheaval. There are challenges, like rising costs, and promising opportunities, like mRNA and gene therapies. Digitalising supply chains represents the key to the future. Amid the necessity of creating sustainable business practices and a surge in advanced therapies driving demand for cold-chain logistics and real-time monitoring, digitalisation can provide logistical chiefs will critical tools and information they need to keep abreast of change.
But with so many aspects to digital transformation – from operations to customer engagement to the widespread integration of AI – is it feasible for logistical managers to heave their supply chains into the 21st century from end to end? Comprehensive new software solutions provide the answer. Controlant’s Aurora Platform, for example, offers real-time monitoring, analytics support and operational efficiencies that reduce costs throughout a shipment’s journey – providing unparalleled visibility across the supply chain. Powered by Controlant’s IoT monitoring devices, full visibility adds value by optimizing quality and efficiency, making it possible to have customised notifications and alerts that make your supply chain more responsive, and giving you insights into end-to-end supply chain performance.
The consequent workflow and process optimization save time once spent chasing data. With automated logistics and quality documentation, you can quickly and easily review shipments, do root cause analysis, and automate product releases for temperature-compliant shipments – i.e. for almost all shipments. You can also find and address any ‘soft spots’ where temperature excursions occur throughout all your shipments to reduce critical temperature excursion rates in your supply chain.
For firms unsure about the digital transition, partnering with experienced providers like Controlant simplifies the process, offering expert support and compliance with regional regulations through their GxP-validated platform. Used by major pharmaceutical and logistics companies worldwide, the platform ensures a streamlined and efficient supply chain. With Controlant, companies have a trusted partner to help maximise the benefits of digitalisation without having to navigate the complexities alone. Download the whitepaper on this page to learn more.
“How pharma leaders are approaching digital transformation” was originally created and published by Pharmaceutical Technology, a GlobalData owned brand.
https://finance.yahoo.com/news/pharma-leaders-approaching-digital-transformation-142356984.html
