The global pharmaceutical industry has been one of the most successful industries in recent history. As the industry matures, it is facing a variety of new and complex challenges in the face of globalization and fluctuating market dynamics. As a result, pharmaceutical companies are taking an assorted set of strategic and operational actions to increase revenues and sustain profits. The pharma industry stands out among other manufacturing industries for the astronomical amount it employs every year on research and development – a blunt contrast to the relatively low-tech level of manufacturing. Pharmaceutical manufacturers are addressing the challenges of manufacturing effectiveness and efficiency with strong cost-containment initiatives to advance operational excellence and quality management frameworks.
Operational Excellence (OE) has become the umbrella adopted by organizations across industries, including pharmaceutical and life sciences, to refer to the thrust for continuous improvement in all areas of business performance, to ensure its performance equals or surpasses that of “best in class” organizations.
The philosophy of operational excellence looks back on an extensive history. The underlying concepts that changed over time have their origins predominantly in the Japanese automotive industry and spread thereafter into most other industries. Today, OE has gained thrust and became a priority for top management and workforce even for pharmaceutical manufacturers across the world.
The role and insight of operational excellence within the pharmaceutical industry have changed expressively, over the last decade. Concepts that are realistic in numerous companies have grown from single, standalone techniques with a rather limited scope towards transformation programs aiming to bring an organization’s competitive edge.
Operations are diverse with transformation is a series of continual improvement activities, along a value chain ranging from supplier to client. Operations Management designs, functions, and progresses supply chain systems and offers the pharmaceutical industry with a knowledge base to endorse the use of finest practices and operational excellence within pharmaceutical operations management. This whitepaper is designed to provide a deep understanding of operational excellence in the pharmaceutical industry.
Unlike other continuous improvement initiatives that are employed to reduce costs or improve productivity, the goal of Operational Excellence is overall business growth. When an organization accomplishes it, management can occupy most of its time to become intensely integrated into guiding innovation and product development.
With the more and more number of firms entering the pharma business, the competition is immense when it comes to cost, quality and availability globally. To survive in such competitive age companies must have to push themselves towards the next phase of the pharmaceutical industry. Looking at today’s scenario, the pharma industry must pull their socks for the future starting from today only, as none can bear even a day’s loss. Here is a broadway ahead for the pharma industry
- The constant decrease in cost to stay lucrative
- Plant Load Optimization to optimize productivity
- Shop Floor Operational Improvements to ensure the optimum quality output
- Suppliers and Supply Chain optimization
- Health, Safety and Environment as core
- Identifying the barriers in executing the above
- Formulating and executing strategies and practices to overcome challenges
- Information Analytics
- Sustenance mechanism to get future-ready for Industry 4.0.
The Faber Infinite team has designed and implemented proven frameworks which have delivered results in terms of profitability, cost and productivity improvements. Remarkable results have been achieved through these designs, proper execution and refining of systems and processes. Our clients have achieved increased profitability, sustained productivity with the systematic and precise implementation of these excellence frameworks.
Contact our expert team to explore more. To read more, you can download the whitepaper: https://faberinfinite.com/white-paper/
Written & Compiled by Faber Manasi & Faber Mayuri