LogiPharma, the leading annual event in the life sciences and supply chain domain, made headlines this year as it welcomed a record-breaking attendance of around 2,000 industry professionals. As the largest edition to date, organisers have revealed the top three insights driving innovation in pharmaceutical logistics.
AI is Revolutionising Supply Chains
Artificial intelligence (AI) emerged as a transformative force, with discussions revolving around machine learning, generative AI and advanced automation. Experts highlighted how these technologies can optimise logistics, predict disruptions, streamline production, and personalise medicine delivery.
Although AI was hailed as the linchpin for navigating market complexities and enhancing operational efficiency, the emphasis was on ensuring tangible return on investment (ROI) and advocating for practical, value-driven implementations.
Bharath Sundararaman, VP and GM at TraceLink shared insights following a case study discussion on ‘Enabling Your Digital Supply Chain: How to orchestrate external manufacturing, direct supply, logistics, and commercial business processes’.
“We must prioritise the ROI of every digital initiative we undertake. Sometimes, we get caught up in ‘the hype’, rushing into big pilots with phrases like 'generative AI'. While pilots can demonstrate value in isolated scenarios, true value comes from sustainable operational deployments that function effectively in the real world,” said Bharath Sundararaman.
“The journey of digitally transforming a supply chain requires us to assess our top supply chain goals and priorities, identifying areas where digital enablement can truly enhance our operations."
Sustainability Takes Centre Stage
Unsurprisingly, the drive for improved sustainability was a resounding call to action, with industry leaders advocating for a greener future in pharmaceutical logistics. Discussions brought to light the challenge of balancing robust risk mitigation with sustainability goals and the need for a more holistic approach to supply chain management. While building resilience is crucial in the short term, embracing sustainability offers a path to long-term growth and cost savings.
Delegates at the show like Ciarán Forken, EMEA Fulfillment Optimisation Director at Baxter International, highlighted the importance of a stepwise approach, allowing organisations to progress towards sustainability goals methodically: “A large majority have partially concrete goals because it is so difficult for pharma leaders to pin down improvement metrics in this space. I think it must be noted that there is a willingness to improve when it comes to sustainability. However, in practise it rarely gets to the top of the list. There needs to be a change for this to turn into very concrete plans for all. KPIs are everything when it comes to making actual change.”
Digital Transformation Becomes Inevitable
The critical importance of digital transformation took centre stage, fuelled by inflation, workforce challenges and geopolitical disruptions. Industry leaders underscored the urgency of embracing digital solutions to ensure supply chain resilience and competitiveness. Supply Chain 4.0 emerged as a guiding model, promising actionable insights through advanced data analysis and machine learning. Real-time data emerged as the new currency, with companies prioritising it to enhance agility and operational efficiency.
“Proprietary, real-time data on physical operations and logistics is the new oil, and companies cannot afford to have data latencies if they want to stay agile in today’s pharmaceutical supply chains,” said Krenar Komoni, Founder & CEO at Tive – a key sponsor at this year’s event.
Looking ahead
Looking ahead to 2025, LogiPharma promises to continue its tradition of providing unparalleled insights and networking opportunities for professionals in the pharmaceutical and supply chain sectors.
As the industry evolves, embracing sustainability, AI, and digital transformation will remain paramount for staying competitive and resilient. In the words of Iqbal Noormohamed, Senior Director of Demand Planning & Logistics – Europe at Glenmark Pharmaceuticals, “Do what you need to do to get to LogiPharma. Not only are you getting amazing content but you’re meeting amazing people, colleagues who think alike and partners who didn’t even know existed.
Iqbal, who was part of the key panel discussion titled ‘How key data-driven performance metrics can help you cut through complexity to evaluate and enhance the effectiveness of your supply chain’, concluded: “Come with an open mind and knowing that you don’t know everything and be willing to learn and absorb as much information as you possibly can because that’s how you’re going to make a difference to your team, your business and the industry."
https://logipharmaeu.wbresearch.com/?utm_source=Nielsen%20McAllister&utm_medium=Advocate&utm_campaign=11238.018%20-%20LogiPharma%202024%20-%20PR%20agency%20%E2%80%93%20Homepage&utm_term=&utm_content=&disc=&extTreatId=7593221
