Ensuring long-term success in the pharmaceutical industry is increasingly difficult in the face of challenges such as patent expirations, weak product development pipelines, pressure to lower prices, and a progressively burdensome regulatory environment. Pharmaceutical companies need to be reliable, flexible and innovative if they want long term productivity and profitability.
The economic downturn in 2009 led many pharmaceutical companies to embrace cost reduction measures focused on increasing efficiency. An efficient business process can guarantee both a high level of quality and shorter lead times between production and distribution. However, these measures were often short-term fixes, and manufacturers were unable to guarantee long-term reliability.
Instead, they needed to find cost-effective ways to increase efficiency that could be used over a longer period of time, to ensure stability, and form the basis for future growth. When this is achieved, pharmaceutical companies can position themselves for long-term success and grow in a way that allows for continuous improvement.
Not yet a Subscriber?
This is a small extract of the full article which is available ONLY to premium content subscribers. Click below to get premium content on Manufacturing Chemist.
Subscribe now Already a subscriber? Sign in here.