The pressure on the drug industry is increasing day by day. Hence, the suppliers need to match the market need and supply their material on time and make the production streamlined. For this, different pharma and drug companies are arranging Clinical trial supply Conferences to connect with experts and learn from peers worldwide. There’s an upcoming Clinical supply chain conference in 2023. These supply chains overlook the production, management, and delivery of drugs on time.
What is a Clinical Supply Chain?
The clinical supply chains ensure that the pharma and biotech supplies needed for clinical trials are manufactured, ordered, and transported on time. The SCM connects with different companies to make their drug production and delivery streamlined.
They are committed to both the biotech and pharma industries to build a potential network of the supply chain. Their work starts with introducing, managing, labeling, preserving, studying, exporting, and identifying drugs. For this, different Clinical supply chain conferences are organized worldwide to solve the upcoming problems of the drug industry and make the network and management smoother.
Key Role of Clinical Supply Chain
There are three main capabilities that all clinical supply chain managers need to own physically and digitally. These include visibility, traceability, and collaboration to ensure customer satisfaction. Hence different clinical supply chain conferences are organized worldwide to discuss innovative and interactive ideas to lower the streamlined process and timelines rather than sacrificing your product quality.
One such clinical supply conference is organized in 2023. Here different biotech and pharma experts will share how they optimize and protect their clinical trial supply strategies.
Types of Clinical Supply Chain
Supply chain management has four parts. Each is responsible for a separate practice and holds significant importance in managing the sector. These parts include
Demand Management
A demand manager has to overlook demand planning, merchandise, and promotion. Hence, he needs to take care of the inventory along with the merchandise and introduce discounts and bonuses on special occasions.
Supply management
A supply manager plays his role in planning product supply, management, distribution, production, inventory, and capacity. Hence, he can also be called the backbone of the supply management chain.
Sales and operation planning
It is a monthly integrated business management that mainly focuses on sales, marketing, demand, production, inventory, and new product introduction. They keep an eye on the company’s finances and introduce new business strategies accordingly.
Product Portfolio Management
Their job starts with creating a product idea to successfully advertise it in the market. They need to thoroughly understand the market trends and attract more customers.
Best Practices for Supply Chain Management
There are dozens of practices you can adapt to improve clinical supply chain management. But in this brief article, we will share the most common yet significant practices to help clinical supply chain management. You can know more about these practices at the upcoming clinical supply chain management conference in 2023.
● Manage Your Inventory Efficiently: if you optimize your inventory effectively, you will not face any problems in the future. On the other hand, if you just keep buying clinical supplies without any calculation, they will expire, and your investment will go in vain.
● Set Reasonable Price: Surely, clinical supplies are very expensive to buy. But the retailers should set a reasonable price for these products. The profit margins should not exceed the limit, because medicines are made for the well-being of people, not to put them in hardship.
● Be Aware of Supply and Demand: Sometimes, many hospitals order clinical products that they do not use in the future because there is no demand for them in the market. And opposite to that, many hospitals do not have common clinical supplies that are in demand. The neglect of supply and demand can be unfavorable for patients and managers.
Bottom Line
By now, you must be aware of the role of clinical supply chain management in providing you with drugs on time. Unlike regular supply chains, there are many critical and complex factors. Hence, if you want to share your vision with experts or learn from peers worldwide then you must join the upcoming Clinical trial supply forum 2023.
