In the dynamic world of MedTech, supply chain management is a critical component that directly impacts patient care and organizational efficiency. The recent LogiMed conference in Carlsbad, California, on March 24 – 26 brought together industry leaders to delve into the challenges and opportunities that define today’s life sciences supply chains. Here are the key insights from this gathering of minds, highlighting strategies for navigating complexities and enhancing operational resilience.
Managing risk and supply chain dependencies
One of the foremost challenges discussed at LogiMed was the management of risk within life sciences supply chains. Organizations are increasingly recognizing the importance of breaking down silos — both internal and customer-related — to foster a more integrated approach to risk management. These silos can create barriers to effective communication and collaboration, ultimately impacting the ability to respond swiftly to disruptions.
A significant point of concern is the dependency on single-sourced components, which poses considerable risks. For example, hospitals rely heavily on nitrogen gas, 60% of which is supplied by Ukraine, underscoring geopolitical vulnerabilities. This reliance necessitates a reevaluation of sourcing strategies and the development of contingency plans to ensure continuity of supply. Additionally, the need for accurate data management is paramount; discrepancies between expected and received quantities can lead to operational inefficiencies and increased costs.
