In a recent engagement, Quantzig collaborated with a Canadian Pharma Company to help them address the issues around pharma logistics and supply chain management due to the outbreak of novel coronavirus. In this success story, our logistics and supply chain analytics experts offered detailed insights on how the COVID-19 outbreak is affecting the global pharma logistics and supply chain and how pharma companies can withstand the disruptions by leveraging supply chain analytics to improvise and enhance the efficiency of pharma logistics and supply chain.
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About the Client
The client is a well-known Canadian pharma company. Catering to a huge customer base, the client was recognized as one of the most renowned pharma companies in the world.
The latest strain of COVID-19 has impacted the globe, countries and their health systems are now facing new challenges every day. Apart from the human impact, the economic downfall caused due to the spread of coronavirus is affecting the global pharma logistics and supply chain. The pharma industry involves a very fragile structure of logistics and supply chain and the impact of Coronavirus has brought it to the limelight once again. The current situation will lead to a shortage and an increase in the demands of certain medicines.
With the sudden surge in demand for the COVID-19 related drugs with limited logistics facilities, the logistics and supply chain network of this Canadian client was unable to meet the basic SLAs. After considering the multiple complexities involved the Canadian pharma company understood that tackling these problems required an understanding of advanced logistics and supply chain analytics. That’s when this pharma client decided to leverage the advanced supply chain analytics solutions offered by Quantzig.
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The challenges faced by the Canadian pharma company:
- Unable to meet SLAs
- Lack of supply chain visibility
- Lack of synchronization between the supply of raw materials and production drugs
- Limitations in supporting supply chain initiatives and platform capabilities
- Irregular supply of inventory stock levels due to outbreak of COVID-19, causing stock-outs
- Improve supply chain planning and procurement
- Improve procurement efficiencies by providing complete supplier visibility across regions
- Reduce inventory stockouts and deliver growth
- Improve inventory forecast accuracy and eliminate wastages amid COVID-19 outbreak
Whether you are looking forward to enhancing your logistics strategy or transforming your supply chain management approach, our advanced supply chain optimization solutions can be customized to your unique requirements. Request more information to gain detailed insights.
Due to the outbreak of novel coronavirus the Canadian pharma company embarked on a pharma logistics and supply chain transformation journey that revolved around catering to the latest requirements of the world to improve healthcare scenario using a data-driven solution. To help the client address their challenges the supply chain management experts at Quantzig adopted a two-pronged approach that led to a complete transformation of their existing logistics and supply chain management system.
The initial stage of this logistics and supply chain optimization engagement revolved around statistical analysis that leveraged predictive modeling to forecast upcoming product demand at a mass scale. The predictive model helped in understanding the latest trends and dynamic consumer demands amidst the coronavirus outbreak. Furthermore, our analytics experts also deployed a logistics network optimization model that enabled the client to devise a robust strategy for tackling the major challenges in logistics route optimization. The second stage of this collaboration helped the client to identify how the current factors and government measures were affecting the supply side of their business.
Our pharma logistics and supply chain optimization solutions enabled the Canadian pharma company to identify new opportunities to redesign and improvise their current logistics and supply chain workflows and engage new suppliers to procure raw materials.
The logistics network optimization solutions also enabled the client to:
- Improve business agility
- Reduce logistics and supply chain shock levels
- Reduce logistics scheduling time
- Reduce costs