Almost 50% of leaders in the pharmaceutical industry consider sole sourcing as a critical vulnerability for their business. Not only does this apply at tier 1, but hidden concentration risks in sub-tiers.
Rapid, automated supply chain mapping enables these concentration risks to be quickly identified, and the sub-tier supply chain can be a valuable source of alternative suppliers.
Pharmaceutical, chemical and life sciences supply chains are particularly exposed to cyber threats and trade disputes.
By gaining sub-tier visibility where previously there was none, you can pinpoint geographic dependencies and exposure to organisations which may present higher cyber/fourth party risk.
Understand where and with whom you're competing for supply of critical ingredients.
Competitiion for supply of critical ingredients can be intense, leading to aggressive purchasing tactics and the bullwhip effect. Gain a competitive advantage by understanding who you're competing with for supply from your Tier 1s, and optimising your procurement strategy.
Map your sub-tier supply chain to demonstrate compliance with Modern Slavery legislation and enahcen your reputation.
Protect delivery schedules, maintain quality and avoid unforeseen costs from your supply chain. Use multi-tier visibility to identify bottlenecks and diversify your supply chain for business continuity through turbulent times.
Use multi-tier supply chain visibility to pinpoint your exposure to geographic regions and individual suppliers. Proactively mitigate risks by building a diversified and agile supply chain.
Evidence your sustainability efforts to shareholders, combat forced labour, and improve overall business performance with multi-tier supply chain visibility. Underpin reporting for the US Uyghur Forced Labour Prevention Act, UK Modern Slavery Act and Scope 3 carbon emissions with supply chain mapping and analytics.
Demonstrate compliance with regulations requiring mutli-tier supply chain visibility, such as the German Supply Chain Due Diligence Act.
Avoid becoming the victim of a hack like Solar Winds. Trace your extended supply chain to identify cyber risks that threaten you or your most critical suppliers.
Evidence robust governance by screening your sub-tiers for bad actors and sanctioned entities.
In today's business landscape, reputation is everything. Don't let your company's hard-earned reputational capital be lost due to risks hidden within your supply chain.
Explore our supply chain visibility solutions - from off-the-shelf analytics that you can rapidly deploy to fully tailored Data-as-a-Service to integrate into your control tower.Learn more