Predictive analytics for demand forecasting
The digital supply chain in a pharmaceutical company is known as the strategic and operative exchange of information (product, design, research, and competition) between stakeholders, such as suppliers, manufacturers, logistics service providers, customers, and regulatory agencies (Singh et al., 2016). The digitalization in supply chain helps build a new type of sustainable, responsive, and resilient supply network because the complex pharmaceutical supply chain involves life-saving interests and requires the mandatory participation of stakeholders (Haddud et al., 2017; Korpela et al., 2017).Digitalization has fostered a new era of competitiveness using digital strategies, digital enablers, digital system integrators, and application technologies (Ehie & Ferreira, 2019). Using digitalization to reduce operational costs and make the process effective is thus a necessity for profitability in a pharmaceutical industry.
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The digital supply chain in a pharmaceutical company is known as the strategic and operative exchange of information (product, design, research, and competition) between stakeholders, such as suppliers, manufacturers, logistics service providers, customers, and regulatory agencies (Singh et al., 2016). The digitalization in supply chain helps build a new type of sustainable, responsive, and resilient supply network because the complex pharmaceutical supply chain involves life-saving interests and requires the mandatory participation of stakeholders (Haddud et al., 2017; Korpela et al., 2017).Digitalization has fostered a new era of competitiveness using digital strategies, digital enablers, digital system integrators, and application technologies (Ehie & Ferreira, 2019). Using digitalization to reduce operational costs and make the process effective is thus a necessity for profitability in a pharmaceutical industry.
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