TAKEAWAYS Shaping the Future of the Global Supply Chain
A Healthier Pharma Supply Chain To improve their bottom line, many healthcare providers are applying supply chain know-how to healthcare decisions. One example: Cardinal Health collaborated with Palantir Technologies to design a solution that provides health systems and hospitals with dynamic purchase decision insights. The solution uses articial intelligence and machine learning to analyze real-time clinical and purchasing data, then creates a clinically integrated supply chain for pharmaceuticals. The tools integrate with Foundry, Palantir’s operating system, and could help health systems right-size pharmacy inventory. The solution takes constantly evolving payer formulary updates into account, which should help ease the high costs associated with drug expense increases due to the growth of specialty therapies and biosimilars. Future updates could help inform purchasing decisions for therapeutic utilization, reimbursement insights, and predictive drug inventory needs. A DIRECT HIT As retail businesses explore all their supply chain options, many nd that direct-to-consumer (DTC) models may be the right approach. In fact, two-thirds of North American organizations say their investment in the DTC delivery model has increased since early 2020, according to a new Deposco report, The Rise of Direct-to-Consumer in North America . Respondents from ecommerce, manufacturing, retail, transportation, logistics, supply chain, and wholesale businesses who invested in DTC point to the following benets: • 38% say DTC models can improve prot margins. • 31% say it will reduce costs. • 23% note the ability to personalize their service offering as a key driver. There are, however, some barriers to DTC success. Nearly one- quarter of respondents (24%) point to a lack of skilled staff, while physical infrastructure (23%) also creates some difculties. But planning can overcome these roadblocks. More than half (54%) say preparing with the right mix of people, processes, and technology positions their organizations for DTC success.
TEAR IT DOWN THEN BUILD IT UP Recent systemic supply chain challenges have forced some companies to scrap contingency plans and rebuild their supply chains from the ground up. This has created demand for relevant business interruption coverage, according to a new WTW study. The survey polled supply chain risk decision makers in industries including life sciences, semiconductors, food and beverage, agriculture, logistics, complex manufacturing, construction, energy, and renewables. Most respondents say they experienced larger-than-expected losses during the supply chain crisis, and many say they are still recovering. The survey finds that most responded to disruptions by reducing supply chain complexity. For example: ● 83% have made supply chain changes. ● 18% completely transformed their approach. ● 58% plan to make significant changes over the next two years.
20 Inbound Logistics • May 2023
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