Paul Eckersley, Life Sciences and Pharmaceutical Market expert, works for DynaSys as a Global Sales & Account Manager.
The Evolving Life Sciences Industry
The Life Sciences industry is going through a period of great exponential change, similar to a fourth Industrial Revolution. These changes can be seen in the demographics across all geographies and is the driving factor for Life Science companies. Additionally, this change brings many challenges for manufacturers as Supply Chain executives are constantly trying to balance both costs and customer service levels without creating disruption in the Supply Chain.
Benefits of a S&OP Process
Market evolution leads to many Supply Chain challenges, however, these challenges can be solved by implementing a Sales & Operations Planning (S&OP) process. This process optimises total business performance. This ensure the decisions are based on what is best for the business, rather than focusing on individual functional targets. The benefits of an S&OP process are centered around an entire company – Sales, Operations, and Finance – collaborating to produce one view of the truth. Collaboration, better forecasting and planning processes allow for a certain reduction of inventory level, and the ability to spend more time making better decisions as opposed to manipulating data on a monthly bases. Additionally benefits include flexibility and adaptability as markets change, especially in pharmaceutical, which is a forever changing market.
In conclusion, the benefits of a S&OP process can be very valuable and will make fundamental differences to Life Sciences manufacturers.