Two significant developments are currently taking place in the life sciences industry and supply chain area: Compliance requirements are becoming ever stricter. At the same time, digitalization and new technologies such as big data, cloud, advanced analytics or social media are developing at an increasing speed. In this tension field, some fundamental questions arise:
- Does the rise of digitalization and new technologies severely endanger compliance, or is it a remedy
to meet increasing regulatory requirements in the supply chains?
- How do life sciences companies deal with this tension field? Do they fully understand the risks and
opportunities related to compliance while deploying new technologies in their company?
- Does compliance prevent technological progress of life sciences companies?
- How are life sciences companies currently using new technologies to fulfill compliance requirements in the supply chain?
The current 8th PHARMA Management Radar survey addresses these questions. It provides a clear picture of how business leaders in the life sciences industry currently assess digitalization and the deployment of new technology with regard to compliance. In addition, the survey examines the general business climate in the life sciences industry.
About the 8th PHARMA Management Radar
The PHARMA Management Radar by CAMELOT Management Consultants is a bi-annual survey to illustrate current global business trends in general and additional focus topics in detail. The survey examines the current state of the general global business climate in the life sciences industry. It highlights changes, trends and key challenges, and it reveals what companies are doing in response. Survey participants include the representatives of 70% of the top global pharmaceutical companies including all top 5 firms.
The interviews were conducted by means of an online questionnaire in Q4/2016. The focus topic of the 8th PHARMA Management Radar is “Digitalization: blessing or curse for compliance?”