Pharmaceutical companies have resorted to different ways to address the challenges posed by the COVID-19 pandemic with respect to supply chain risks including diversification of suppliers and sources.
GlobalData has conducted a survey to assess how companies addressed and monitored import/export and supply chain risks associated with coronavirus in the first and third quarters.
Monitoring of import/export and supply chain risks related to coronavirus: Q1 vs Q3
A majority 45% of the companies in Q1 opined that they do not have a dedicated team to address the risks, but they have committees/working teams that meet up regularly. The percentage declined marginally to 44% in Q3.
A dedicated team was available to address the risks at 38% of the companies in Q1, which declined to 35% in Q3.
Dependence on suppliers to identify the risks increased, from approximately 17% of the companies in Q1 to 21% in Q3.
The analysis is based on responses received from the Pharmaceutical Trade and Supply Chain Survey between 07 July and 30 July 2020.
