Crafting and Establishing a Risk Management System for Supply Chains within the Realm of Life Sciences
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In a groundbreaking collaboration, fast-growing drug discovery and development company [Client Name] has partnered with Clarkston to develop a comprehensive Supply Chain Risk Management Model. This model is designed to address diverse risks proactively and in real-time, ensuring the company's supply chain remains resilient in the face of natural disasters, technology failures, human factors, supply chain interruptions, and geopolitical shifts.
The project was approached in three phases. In the initial phase, Clarkston developed a standard procedure for managing supply chain risk. This was followed by the second phase, where a playbook was created for business areas to utilise for supply chain risk assessment and planning. The playbook included templates, tools, and instructions for risk assessment and planning.
In the third phase, Clarkston conducted pilot assessments and kicked off the supply chain risk process for identified business areas. The team worked closely with each business area to perform risk assessments, analyse business impacts, develop risk mitigation, and create recovery plans.
The Supply Chain Risk Management Model in the Life Sciences case study leverages integrated multi-party digital platforms with AI-enabled command centers, full traceability, automation, and systematic risk evaluation. Key elements of how these risks are managed include real-time data ingestion and exception management, digital traceability and compliance, end-to-end supply chain visibility, use of automation and diversified suppliers, embedding climate-related risk management, and systematic risk assessments and contingency planning.
With this model in place, the client is now equipped to independently lead and manage future supply chain risks across their essential business functions. Each business area was encouraged to analyse and plan for their respective risks. The client is also capable of independently leading future supply chain risk assessments.
The Supply Chain Risk Management Model, developed by Clarkston, is designed for end-to-end supply chain risk assessment. The model connects all supply chain partners — manufacturers, suppliers, contract manufacturers, transportation carriers — on a shared digital platform, enabling end-to-end visibility, traceability, and collaborative response across multi-tiered, complex supply chains.
The client is empowered to manage future supply chain risks independently, thanks to the efforts of the Clarkston team. The Supply Chain Risk Management Model is intended for ongoing use by the client, ensuring they can continue to effectively manage and mitigate risks in their supply chain.
[1] Source: Clarkston Consulting, [Link to the source] [2] Source: Clarkston Consulting, [Link to the source] [3] Source: [Link to the source] [4] Source: [Link to the source] [5] Source: [Link to the source]
- The Supply Chain Risk Management Model in the Life Sciences case study employs technology such as AI-enabled command centers and automation to provide systematic risk evaluations.
- The project between [Client Name] and Clarkston also involves managing risks associated with finance and business, ensuring the company's overall resilience.
- The third phase of the collaboration saw Clarkston conduct pilot assessments, working with each business area to create recovery plans and develop risk mitigation strategies.
- In addition to addressing supply chain risks, the model also incorporates health-and-wellness, fitness-and-exercise, and clinical aspects to create a comprehensive risk management strategy.
- The Supply Chain Risk Management Model, developed by Clarkston, enables end-to-end visibility, traceability, and collaboration across all supply chain partners.
- The model is designed not just for immediate use, but also for ongoing use by the client, allowing the company to continue effectively managing and mitigating risks in their supply chain.
