Traditionally averse to using complex technologies, the pharmaceutical industry today is open to innovation.
Traditionally averse to using complex technologies, the pharmaceutical industry today is open to innovation. Its interest in digital transition got sharper after experiencing major supply chain disruptions induced by COVID-19.
Since the pandemic, automation and other digital techniques have been speedily implemented on the manufacturing side of things, where companies had to ensure gaps between supply and demand are closed.
Besides improving the production yield and time to market, the pharmaceutical sector is now also adopting digitalisation to optimise product quality management, minimise batch rejection, conduct better research on drugs and reduce operational costs.
Digital transformation of the pharmaceutical sector promises an array of benefits ranging from accelerated medicine delivery and end-to-end pharma supply chain visibility to tracking counterfeit drugs and improved compliance adherence.
With data-driven predictive analytics and connected devices, the industry can also eliminate the high levels of downtime pharma plants typically experience.
The good news is that the pharmaceutical sector does not need to wait for any major disruption to seize digitalisation opportunities. COVID-19 has already triggered a movement, and companies have numerous plug-&-play tools tailor-made for them by evolving technology solution providers.
At the SAP Industry Innovation Week, we invited digitally inspired startups to talk about their Industry 4.0 solutions that could drive seamless innovation in the pharmaceutical sector.
These SAP Startup Studio partners include:
SyMetric helps pharma companies improve their clinical research and trials through integrated cloud solutions. It enables organisations to discover the efficacy of new medicines and healthcare devices by leveraging data analytics and predictive modelling. It has designed its modules indigenously while focusing on patient safety and data integrity in sync with global industry standards and regulatory compliance. As an easy-to-use and cost-effective platform, SyMetric’s solution can be used by enterprises of all sizes.
NeuroTags serves 100+ companies and has digitised more than 25 million products. Its cloud-based plug-and-play solutions also help brands manage their marketing programs and customer loyalty schemes more efficiently. With its unique anti-counterfeiting technology, NeuroTags offers an antidote to block the supply of spurious drugs in the pharmaceutical sector. The startup also designed a customised solution for the Indian pharma industry to help manufacturers align more effectively with government guidelines.
A company that believes a data-filled world needs a data-driven approach, NeeWee enables automotive companies to streamline their entire manufacturing cycle by making cost, delivery and quality aspects more predictable. For the pharmaceutical industry, NeeWee offers an application called Golden Production Run that makes every medicine batch comply with the desired product quality while ensuring optimal capacity yield.
Working at the confluence of behavior design, neuroeconomics and AI, worxogo’s digital nudge coach is a productivity tool that improves the performance of sales teams. It analyses data from different sources and nudges sales reps at an individual level to help them meet their targets, leading to better business outcomes.