Pharma Insurance: A Mechanism for Risk Mitigation

2021 ◽  
pp. 2659-2664
Author(s):  
Adithya D. Shetty ◽  
Ankitha Shetty ◽  
Jyothi Shetty ◽  
Sandeep Shenoy ◽  
D. Sreedhar ◽  
...  
Keyword(s):  
Supply Chain ◽  
Risk Mitigation ◽  
Product Liability ◽  
Vital Role ◽  
Contingency Planning ◽  
Pharmaceutical Supply Chain ◽  
The Third ◽  
Front End ◽  
Pharmaceutical Production ◽  
Similar Risk

Insurance plays a vital role in risk mitigation of pharma supply chain. It’s a mechanism where losses sustained by few are stretched among many those are exposed to kind of similar risk. Unfortunately, insurance is not availed by the intermediaries in pharma supply chain which eventually leads to heavy losses in the regular supplies of the drugs. The pharmaceutical industry in India has secured the third position globally in terms of its volume and adds approximately 10% to the global pharmaceutical production. According to the reports published by the Department of Pharmaceuticals, the Indian Pharma Industry is pegged at INR 810 Bn which is inclusive of domestic sales and exports. India is an international hub for high-quality medicines at an affordable price with a rich vendor base. As logistics and supply chain plays an important role and contributes immensely to the overall growth of pharma sector, risk mitigation becomes inevitable. Poor supply chain in pharma leads to various fatalities due to mishandling of the product, pilferage, poor packing, damage during transit, accidents and other nature hazards leading towards expiry of drugs. Low level of supply chain integrity, absence of contingency planning, inadequacy in resources and infrastructure, lack of support in terms of regulation, adoption of sub-optimal standards in technology are included in it. Currently, there are myriad inefficiencies spotted in both assets i.e., physical requirement like storage and transport as well as enablers i.e., efficiency improving system, technology and process all along the pharmaceutical supply chain. Inspite of all this, the pharma companies opine that there is no adequate insurance taken by the wholesalers and the distributors in the front end distribution of critical drugs. Thus, the study is intended to analyze the product liability exposure arising during pharma supply chain and the quantum of insurance required to mitigate the same.

scholarly journals The Pandemic and the Supply Chain: Gaps in Pharmaceutical Production and Distribution

2021 ◽  
pp. e1-e5
Author(s):  
Mariana P. Socal ◽  
Joshua M. Sharfstein ◽  
Jeremy A. Greene
Keyword(s):  
Public Health ◽  
Supply Chain ◽  
Acute Stress ◽  
Pharmaceutical Products ◽  
New Drugs ◽  
Pharmaceutical Supply Chain ◽  
The Us ◽  
Production And Distribution ◽  
To Come ◽  
Pharmaceutical Production

The acute stress of the COVID-19 pandemic has laid bare a series of long-term weaknesses in the US public health system, including the fragility of our supply of essential medications.1 The virus produced unprecedented shifts in demand for old as well as new drugs, while simultaneously introducing new uncertainties about the production and distribution of pharmaceutical products. COVID-19–related shortages extended beyond antivirals to include a range of drugs broadly used in intensive care and in general hospital management (Table 1). These shortages point to serious vulnerabilities in the pharmaceutical supply chain that compromise readiness for new waves of the current pandemic and crises that are yet to come. (Am J Public Health. Published online ahead of print January 28, 2021: e1–e5. https://doi.org/10.2105/AJPH.2020.306138 )

scholarly journals Risk Mitigation on Supply Chain of Rice in Central Java Province and Special Region of Yogyakarta

2019 ◽  
Vol 38 (4) ◽  
pp. 375
Author(s):  
Adi Djoko Guritno ◽  
Novita Erma Kristanti ◽  
Megita Ryanjani Tanuputri
Keyword(s):  
Supply Chain ◽  
Risk Mitigation ◽  
Supply And Demand ◽  
Vital Role ◽  
Point Of View ◽  
Supply Chain Risk Management ◽  
Role Of Government ◽  
Central Java ◽  
Iso 31000

Rice is a vital commodity in Indonesia because it is the main staple food for most Indonesian people.  Balancing supply and demand of rice in Indonesia is complex and possibly led to polemics, even though the production of rice in Indonesia tends to increase. An analysis of the supply-demand for rice commodity is necessary as an effort to improve the national rice condition along with the logistics and supply chain point of view. This study aims to analyze the supply chain risk management of rice to provide recommendations on improving rice supply chain performance on each tier. In this study, supply chain of rice mainly consists of farmer, collector who acts as trader, and retailer. Meanwhile, the role of government is represented by The Indonesia Logistics Bureau (BULOG). The different supply chain pattern can be identified from the role of middleman in each province. This study uses ISO 31000:2009 standard for analyzing the risk in each tier along the supply chain. Based on the risk analysis, on-farm activity plays a vital role in transferring risk along the supply chain in terms of quality and quantity. Risk mitigation of each tier is explored in this study.

scholarly journals TANIAN LANJANG Pola Tata Ruang dan Kekerabatan Masyarakat Madura

2017 ◽  
Vol 10 (2) ◽  
Author(s):  
Abdul Sattar
Keyword(s):  
Family Relationship ◽  
Vital Role ◽  
The West ◽  
Architectural Pattern ◽  
The Third ◽  
House Building

This study is intended to describe the meaning of the architectural pattern and family relationship among Madurese society. There are three points that will be discussed in this article. The first, the meaning behind Madurese choice in building their home in tanian lanjang. The second, the vital role of kobhung on the pattern of tanian lanjang. The third, the metamorphosis of tanian lanjang: changable and unchangable pattern. To describe all of these aspects and to know what is really meant by Madurese society, it is extremely needed to be part of this society; living with them for a temporal time is a must. The result of this research consists of three important points. The first, the meaning of house building in tanian lanjang is to present the seniority of the inhabitants. The oldest always stays in the west position and the youngest always stay in the east position. A house also becomes a private place for women and kids. Women are also the inhabitants and the owners of houses. The second, kobhung has a vital role in tanian lanjang. It is used to become the centre of all activities done by men. The third, the existence of tongghuh and kobhung is one of unchangable pattern of tanian lanjang.

Minimizing supply chain disruption risk through enhanced flexibility

2009 ◽  
Vol 39 (5) ◽  
pp. 404-427 ◽  
Author(s):  
Joseph B. Skipper ◽  
Joe B. Hanna
Keyword(s):  
Supply Chain ◽  
Multiple Regression ◽  
Planning Process ◽  
Research Effort ◽  
Risk Exposure ◽  
Contingency Planning ◽  
Management Support ◽  
Supply Chain Disruption ◽  
Content Type ◽  
Disruption Risk

PurposeThe purpose of this paper is to examine the use of a strategic approach (contingency planning) to minimize risk exposure to a supply chain disruption. Specifically, the relationship between several attributes of a contingency planning process and flexibility are examined.Design/methodology/approachThis effort develops a model that will provide both researchers and practitioners a means of determining the attributes with the highest relationship to flexibility. The model is then tested using multiple regression techniques.FindingsBased on the sample used in this survey, top management support, resource alignment, information technology usage, and external collaboration provide the largest contributions to flexibility. Flexibility has been shown to enhance the ability to minimize risk exposure in the event of a supply chain disruption.Research limitations/implicationsIn this research effort, the multiple regression results produced an R2 of 0.45, indicating that additional variables of interest may need to be identified and investigated. Furthermore, a wider range of respondents could make the results more generalizable.Practical implicationsThis effort will help to allow managers at multiple levels to understand the primary planning attributes to use to increase flexibility.Originality/valueThe paper develops a model that can be used to identify the specific areas that can lead to improved flexibility. Based on the model, managers, and planners can develop appropriate strategies for minimizing risk exposure in the event of a supply chain disruption.

scholarly journals Using IoT in Supply Chain Risk Management, to Enable Collaboration between Business, Community, and Government

Smart Cities ◽  
2021 ◽  
Vol 4 (3) ◽  
pp. 995-1003
Author(s):  
Li Meng
Keyword(s):  
Social Media ◽  
Risk Management ◽  
Supply Chain ◽  
Risk Mitigation ◽  
Value Added ◽  
Business Community ◽  
Supply Chain Risk Management ◽  
Supply Chain Risk ◽  
Business Services ◽  
Difficult Times

The internet of things (IoT) and social media provide information related to disasters that could help businesses to strategically mitigate risks and optimize their supply chain during difficult times. This paper proposes a framework to show how business or supply chain enterprisers can collaborate with community and government in disaster supply chain risk management. Businesses must have an established risk mitigation plan, update it periodically and implement promptly. Community collaboration can build a resilient society, and government should play an important role in leading both financial and non-financial support during natural disasters and pandemic management. The IoT and social media are new mechanisms as a vocal point to enable government, ensuring trustworthiness of information, to provide the community with a means to express needs and feedback, and to assist business services to meet the changeable preferences under risk threats. Social media can be a collaborative effort between all the parties and helps make value added decisions efficiently in supply chain risk management.

Ten conversations about identity preservation

2004 ◽  
Vol 4 (2) ◽  
pp. 111-123 ◽  
Author(s):  
Peter Goldsmith ◽  
Karen Bender
Keyword(s):  
Supply Chain ◽  
Life Science ◽  
Food System ◽  
Risk Mitigation ◽  
End Users ◽  
End User ◽  
Organizational Models ◽  
Identity Preservation ◽  
Needs Assessments ◽  
Current Risk

Dynamics in the global food system, along with a cascade of technologies, drive demands for capturing information and sharing information vertically within the supply chain. Food safety, genetic engineering, and animal welfare all have contributed to the need for enhanced information flow within the supply chain. Identity preservation in grains and oilseeds is an emerging issue that may influence the structure of agriculture in the longer term. This research addresses the following questions. While demand for high-information grains appears to be growing, where and how along the supply chain is the value created and captured? Though it appears that the economy demands ever-increasing amounts of differentiation, why do opportunities for producers and life science companies to create and capture significant new sources of value remain elusive? To answer these questions needs assessments were conducted with grain procurement executives. Their responses reveal the "buyer's calculus" where buyers balance investment in specific relationship assets with the market uplift or risk mitigation return it generates. Buying from a competitively structured industry has numerous benefits. There is a "cost" or tradeoff leaving the spot market procurement model in favor of a relationship-based model; hence the calculus. The current equilibrium state reflects the current risk-adjusted value proposition suppliers deliver to end users. Though end-user benefits are on the horizon with the next generation of biotechnologies, their emergence is insufficient to guarantee farmers and life science greater returns. End users will always balance the risk mitigation and market uplift features of a supply offering with the risks of narrowing their supply base. To drive value up the chain, suppliers need to shift away from focusing solely on the products of the future and focus on the technologies, delivery systems, and organizational models that, when bundled with new products solve problems and make end users more competitive.

scholarly journals A literature review on multi-echelon inventory management: the case of pharmaceutical supply chain

2018 ◽  
Vol 200 ◽  
pp. 00013 ◽  
Author(s):  
Nouçaiba Sbai ◽  
Abdelaziz Berrado
Keyword(s):  
Supply Chain ◽  
Customer Service ◽  
Inventory Management ◽  
Raw Materials ◽  
Integrated Approach ◽  
Service Level ◽  
Pharmaceutical Products ◽  
Management Problem ◽  
Pharmaceutical Supply Chain ◽  
Customer Service Level

Inventory management remains a key challenge in supply chain management. Many companies recognize the benefits of a good inventory management system. An effective inventory management helps reaching a high customer service level while dealing with demand variability. In a complex supply chain network where inventories are found across the entire system as raw materials or finished products, the need for an integrated approach for managing inventory had become crucial. Modelling the system as a multi-echelon inventory system allows to consider all the factors related to inventory optimization. On the other hand, the high criticality of the pharmaceutical products makes the need for a sophisticated supply chain inventory management essential. The implementation of the multi-echelon inventory management in such supply chains helps keeping the stock of pharmaceutical products available at the different installations. This paper provides an insight into the multi-echelon inventory management problem, especially in the pharmaceutical supply chain. A classification of several multi-echelon inventory systems according to a set of criteria is provided. A synthesis of multiple multi-echelon pharmaceutical supply chain problems is elaborated.

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