May 11, 2023
LogiPharma 2023: three key takeaways for life sciences companies
Senior Account Executive, Life Sciences and Chemicals
LogiPharma 2023, which took place a couple of weeks back in Lyon, France, brought together life sciences experts in supply chains, operations, logistics, distribution, and digital transformation for three days of insightful presentations and networking opportunities.
Read on for three of my key takeaways from the conference.
#1 New supply chain strategies must achieve agility and resilience. According to our ‘2023 Top 5 Trends in Labeling & Packaging Artwork’ report, 80% of businesses surveyed reported that supply chain challenges had directly impacted their business within the last 12 months. This is no surprise as today’s global supply chain requires new levels of visibility and agility as companies add new suppliers and partners, expand into new regions, strive to ensure continuous operations, and attempt to meet increasing regulatory and customer demands - all while grappling with the impact of geopolitical tensions, cost pressures, raw materials outages, and more. However, by adopting a cloud-based labeling solution, life sciences companies can protect their operations against potential disruption and set themselves up for future success. That’s because the cloud allows organizations to improve supply chain efficiency, successfully extend labeling to new partners and suppliers, effectively comply with industry regulations, cut costs, eliminate labeling errors, and expand their operations globally.
#2 Building actionable plans to deliver on supply chain sustainability goals. Across all sectors, life sciences included, products are being designed with sustainability in mind, with many organizations under pressure from consumers and industry regulations to become more sustainable. As environmental initiatives become more mainstream, life sciences companies must consider how they can improve their labeling and packaging strategies. Part of the equation is around how social, ethical, and environmental performance factors into the process of selecting suppliers. With sustainability at the forefront, digital traceability can help companies deliver on their commitment. Being able to trace products both upstream and downstream will become important for managing the product lifecycle and ensuring sustainable sourcing.
#3 Navigating the demands of ever-changing regulations. Managing regulatory compliance has always been a challenge for life sciences organizations. The stakes are even higher today, as companies must balance adherence to strict policies and procedures with the desire to embrace digital transformation to keep pace with growing global competition. The risks associated with non-compliant labeling vary but all are damaging, if not potentially crippling. These include health and safety issues, costly product recalls, fines, supply chain disruption, and damaged brand reputation. However, with a cloud-based labeling solution, life sciences companies can safely run through the complex world of regulations in an efficient and agile way.
Let’s connect and start talking about your vision for the future. Loftware is here to support you on your journey every step of the way. Speak to one of our experts today!
- Supply Chain