Global supply of medical products create demanding challenges for Life Sciences industry

An extensive research study by Axendia, Inc., co-sponsored by Camstar Systems, Inc., shows that globalization of manufacturing and supply of medical products has created unique and demanding challenges for the Life Sciences industry. The cost advantages of global manufacturing and outsourcing are tempered by the need to improve product safety and reduce risks.

“Global Supply Chain Visibility, Control & Collaboration: Regulatory Necessity, Business Imperative.”

The research report recommends that changes are needed in business, technology and regulatory models for the industry, specifically:

"On-Demand-Visibility"

"On-Demand-Visibility" strategies and systems provide the ability to obtain relevant product and process quality information from suppliers and contract manufacturers at the appropriate time to enable decisions with a high degree of confidence based on the analysis of contemporary data.

Collaboration Strategies

The Life Science Ecosystem must work collaboratively to shape strategies and practices to attain "On-Demand-Visibility" and control over Global Supply Networks. Brand owners should partner with suppliers and contract manufacturers to jointly succeed in quality planning, continuous improvement, and corrective and preventive actions. Reasonable and common sense approaches that can be broadly leveraged by all stakeholders enable willing collaboration.

Control over the Global Supply Network

Life Science Organizations must gain tighter control over the complete Supply and Value Chains - and obtain complete genealology and traceability from supplier to contract manufacturer to brand owner to medical professional to patient. Product quality issues, counterfeiting, product diversion and thefts are on the rise and brand owners must deploy systems and technologies to provide continuous and timely visibility and control.

The complete findings of this research study are available today in a new report entitled, "Global Supply Chain Visibility, Control & Collaboration: Regulatory Necessity, Business Imperative."

To request a copy of the report, please visit http://www.camstar.info/axendia-gsc-report.

Source: Axendia, Inc