More pharma firms outsource SC strategies
Global - More than half of pharmaceutical companies rely on third-party outsourcing firms to enhance their manufacturing and supply chain strategies, says a new IDC study.
The IDC Health Insights Study reveals that life science companies are using third-party outsourcing firms and sometimes replacing certain aspects of their IT responsibilities by increasing procurement spend on these services.
"With the global recession now in the rear view mirror, life science companies are slowly shifting their primary cost-cutting focus back toward long-term top-line growth," says Eric Newmark, research manager with IDC Health Insights.
The percentage of pharmaceutical companies suggesting they outsource a certain aspect of their manufacturing or supply chain related IT increased from 48% in 2008 to 63% this year.
There is continued growth in IT outsourcing, with 4-6% over the next 12-18 months.
Technology that support increased supply chain visibility and minitoring capabilities are expected to be at the forefront this year.
"Manufacturing and supply chain strategies not only remain a critical component of maintaining lower-costs, but also hold the key to reducing corporate liability, protecting brand equity and optimising operational efficiency," concludes Newmark.
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