Introduction

Modern businesses rely heavily on a stable supply chain that can withstand shocks, which is why “supply chain risk management” is so important. This article examines the pharmaceutical business as a case study for the application of supply chain measures in the years 2020 and 2021. This case study highlights the importance of proactive risk administration in preserving the integrity of supply chains by showing how a market-leading pharmaceutical business effectively recognized risks, implemented mitigation techniques, and responded to unexpected problems.

Discussion

Detecting Dangers and Evaluating Threats

Maintaining a reliable distribution network for life-saving pharmaceuticals is of paramount importance. A major pharmaceutical firm understood the dangers of supply chain interruptions during the COVID-19 pandemic of 2020–2021 (Mircheva, 2020). The pharmaceutical business of GSK took steps to mitigate the effects of supply chain interruptions in response to the threats it had identified. Buffering stock was an important tactic that was used. To prepare for any interruptions, they raised their supply of essential drugs and APIs.

Figure 1: GSK’s advanced integration system

(Source: tssab, n.d)

Localized Production and Stockpiling

GlaxoSmithKline (GSK), a market leader in the pharmaceutical industry, implemented effective measures to mitigate the supply chain risk in 2020 and ’21. GSK responded to the pandemic by stockpiling more supplies, broadening its supplier base, and improving its dialogue with its vendors (Gurtu and Johny, 2021). This demonstrates the value of “proactive risk management” in sustaining a resilient pharmaceutical chain of custody by ensuring a consistent supply of essential pharmaceuticals.

Relationships with Vendors and Teamwork

The pharmaceutical firm dramatically enhanced its contact with its vendors after realizing the need for instantaneous data sharing in times of crisis. They schedule frequent online conferences to talk about issues, demand predictions, and backup strategies. GSK was able to swiftly adapt to new threats because of the open lines of communication (Guo, 2023). In addition, GSK collaborated extensively with their vendors to discover backup providers of mission-critical APIs and subsystems. This cooperative strategy allowed for quick responses to disruptions in the supply chain.

Case Example

Due to border restrictions, transportation constraints, and rising demand, the pharmaceutical sector was severely disrupted during the pandemic \. In this setting, GSK producer that served as the subject of our research had difficulties obtaining active pharmaceutical ingredients (APIs) from a location hit hard by the pandemic (Munir et al., 2020). GSK were able to maintain a steady supply of pharmaceuticals for patients by using risk management measures including inventory stabilization and supplier localization.

Conclusion

“Supply chain risk management” is extremely important in the pharmaceutical business during rare but catastrophic situations like the recent COVID-19 pandemic. The company was able to overcome interruptions because to risk assessment, stockpile buffering, regional sourcing, and open lines of communication. This case study illustrates the importance of the management of supply chain risks in ensuring the continuity of operations, protecting the public’s health, and building endurance in the face of adversity.

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