How do you manage risk & compliance in a complex supply chain?
The global supply chain for life sciences and pharmaceutical companies has become significantly more complex over the past fifteen years. Increased global competition has driven the need to reduce costs, find new markets and harness emerging technology to improve efficiency and execution. As a result, best in class companies increasingly rely on their suppliers and partners to manage what was once core business. What’s more, significantly increasing regulatory mandates and reporting requirements at the corporate, supplier, ingredient, and component level represent a complex, fluid regulatory environment with massive risk and cost of non-compliance.
Given this landscape, it is not surprising that many life sciences and pharmaceutical companies have found managing global suppliers and product-quality issues to be among their most challenging global initiatives. Recent industry events, such as the contamination of batches of heparin, demonstrate that a lack of control in the global supply chain can lead to patient harm, product recalls, loss of brand integrity, and significant financial liability for a company.
Aravo can help
Aravo has helped many Pharma and Life Sciences products companies effectively manage their trading partner relationships to ensure global regulatory compliance, reduce supply and demand chain risk, and significantly lower administrative costs. For more information, please click on one of the choices in the Learn More box to the right.
"The types of risk to which companies are exposed, as well as their severity, are growing. Companies are increasingly concerned about the spectrum of risksfrom supply chain to operations to regulation to reputation and financial fraud and failure."
Report on the Accenture 2011 Global Risk Management Study