There is no doubt that like other markets, Pharma market has changed significantly in the 21st century. The features characterize 21st century market are: high level of uncertainty, strong competitive environment, shorter product life cycle, unspecified demand and unreliable supply. So companies have to handle the uncertainty, volatility and complexity to improve their profits. Although volatility is the active ingredient, complexity and uncertainty have larger effect than volatility. Globalization is the key volatility leading further to product complexity. There is no doubt that, in today’s increasingly competitive business environment, it is no longer possible for any company to exist only with internal functions’ optimization and improvements. Enterprises have realized that they can no longer control all sources necessary for full satisfaction of market demand. Therefore, companies have to reconsider their business priorities and strategies.
For more details: https://www.omicsgroup.org/journals/supply-chain-as-a-core-component-of-business-model-innovative-supplychain-practices-in-pharma-and-radiopharma-industries-2376-0419-1000133.php?aid=44952