Embrace The SMAC Paradigm: Sridhar Ranganathan
Today, there are plenty of opportunities for organisations to focus and win. Embracing SMAC (Social, Mobility, Analytics and Cloud) paradigm, is one such significant action. Serialization and Product Tracking using digitization, and anytime availability of Customer Support Services at anywhere, can change the game significantly. Companies are adopting digitalization for their field operations that can be fully supported with necessary information timely. The industry can get immensely benefited by helping companies capture and analyze data, and facilitate decision support across functions. Additionally, it helps in understanding and monitoring therapy preferences of customers.
Potential of Technology and Data in Digital Marketing
Apart from helping commercial team get an in-depth profiling of customers across numerous dimensions, technology and data facilitate optimal territory planning and resource allocation. They play an important role in building an efficient CRM process by providing critical information for effective in-clinic discussion, supported by pre-analysed data and culled intelligence. Besides, they equip sales and marketing personnel with deep understanding of therapy regimens and molecule preferences. Above all, they enable in creating explicit visual explanation of intricate details to communicate Mode of Action, effect on receptors and formulation profiles.
Pharma has been a late adopter of new ICT (Information & Communication Technology) offerings. Cloud adoption is nascent at present. Private/Public/Hybrid clouds have specific pros and cons. Also, Pharma is a highly regulated industry. Certainly, there are a lot of concerns around Intellectual Property as replication is easy and rampant. Many multinational companies are attentive in this area as there is always a risk of losing exclusivity. Hence, Security becomes an imperative concern. However, both enhanced understanding and favourable experiences, will enable cautious adoption.
Clutching Automation for Higher Efficiency
In Pharma, automation aids in high throughput screening of candidate molecules, keeping various parameters in mind. Use of Robotics and Machine Learning, is a huge advancement in manufacturing. The time taken for replication in manufacturing processes across dosage forms, has shrunk significantly, thereby high improvement in 'Speed to Market'. Moreover, automation helps significantly in inventory management with advancements like consumption based replenishment, resulting Just In Time (JIT) inventory. Also, it is useful in integrated supply chain, backward integration and timely response to Reverse Logistics needs.
Besides, there is the high focus on the consolidation of Plant locations across geographies. Apart from FMS (Flexible Manufacturing Systems) and the introduction of NC (Numerical Control) based process control, various aspects like quick elimination & accurate selection of CEs (Chemical Entities) will have a large impact. Today, we have an advantage of monitoring pedigree of products, bringing in digitization in Wet Chemistry & microbiology and also providing simulation of market conditions for AS (Accelerated Stability) & RT (Room Temperature) studies.
Moving forward, Big data will be a contributor and data analytics will be adopted extensively in R&D to facilitate better outcomes, resulting significant savings on resources and time. Mobility will have a significant impact. Data warehouses & Data Marts will become basis for decision-making. Also, MIS & DSS (Decision Support System) dashboards will be the norm soon.