Raymon Krishnan, president of the Singapore Logistics & Supply Chain Management Society and a Fellow of the Australian Logistics Academy, and Daniel Sherwood, a practicing logistician in the pharmaceutical industry, give their views on challenges in the pharmaceutical industry for supply chain providers.
The idea of lean comes from the Japanese word muda, meaning waste. Popularised by the practices of Toyota, the essence of lean is to eliminate any waste or any function that consumes resources but does not create any value.
Adopting such an approach to the pharmaceutical industry has, however, met with little success. Regulatory compliance issues, globalisation, production and pricing pressures are all placing overwhelming demands on the profitability and competitiveness of both large and small companies.