The pharmaceuticals and life sciences industry has been very cautious in applying digital technology to improve manufacturing and supply chain operations thus far, yet that caution is becoming a hindrance. As the pharma industry faces growing challenges including globalization, great supply chain complexity, price and cost pressure, and personalized medicine, among others digitization holds tremendous potential in helping companies adapt.

The pharmaceuticals and life sciences industry is generally quite advanced in its application of technology. Regarding operations, however, the industry has been very cautious in adopting new technologies thus far, still relying on supply chain and manufacturing paradigms that have been around for a long time. One key reason is the regulatory environment in which pharma companies operate. High margins have traditionally been another reason, leading to a stronger focus on new product development and sales rather than on optimizing operations.