Posted by Stephen Laaper, Principal, and John Allen, Senior Manager, Deloitte Consulting LLP March 8, 2018.
Life sciences companies are usually not considered market leaders in the race to embrace new technology and digital transformation. Whether deserved or not, this reputation—and the reality—should change. Without the advantages of digital, leaders in life sciences could lose competitive ground that can’t easily be regained.
It’s an urgent call to action, but also a huge opportunity. Specifically, digital supply networks may present an opening for incremental or wholesale digital transformation that can achieve two important goals at once. First, they can help life sciences companies maintain or increase their competitive advantage. Secondly, digital supply networks can address some of the significant forces affecting life sciences, including pricing pressures, the emergence of value-based and personalized medicine and products, and the changing expectations of customers and regulators.
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