Pharmaceutical companies face the need to build a robust supply chain and identify potential vulnerabilities with regard to suppliers to manage the uncertainty caused by the COVID-19 pandemic.
GlobalData has conducted a survey to assess how much consideration companies gave to coronavirus risks when awarding suppliers in the first and third quarters of 2020.
Go deeper with GlobalData
Analysis of the survey responses shows that an increasing number of companies are moderately considering the risks. A majority 38% of the companies in Q1 opined that they moderately considered the risks when awarding suppliers. The percentage increased to 55% in Q3.
Further, more companies have exercised caution over time, compared to Q1. COVID-19 risks were not considered while awarding suppliers by 32% of companies in Q1, which declined to 21% in Q3.
The level of caution has, however, come down by Q3, with a lesser 24% of the companies in Q3 highly considering COVID-19 risks when awarding suppliers, compared to 31% in Q1.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataThe analysis is based on responses received from the Pharmaceutical Trade and Supply Chain Survey between 07 July and 30 July 2020.
