By Erin M. Yeager, Senior Analyst Pharmacy / Supply Chain, OC Reilly, Inc.
(March 14, 2022)–According to a recent report by global management consultant McKinsey, over the past two decades, the worldwide value of pharmaceutical goods traded has grown six-fold, from $113 billion in 2000 to $629 billion in 2019.
Amid this growth, supply chains have become increasingly global, complex, and opaque. Pharma executives say supply-chain risk is a significant reason for their companies’ susceptibility to disruption.
This holds true as the supply chain gets closer to the end-user and the patient. For that reason, OC Reilly has taken steps to lead its health care clients greater efficiencies and cost-savings in their pharmacy and supply chain-related programs.
Health care providers must keep their inventory of pharmaceuticals maintained at sufficient levels at all times. Lives depend on clinicians being able to access drugs, IV fluids, and other key pharmaceutical items at a moment’s notice. At the same time, health care systems need to control their costs as much as possible. It can be a difficult balance to maintain.
OC Reilly can assist health care customers manage their pharmaceutical-related costs by determining when participating in both regional and national group purchasing organizations might be favorable.
The team of professionals at OC Reilly applies its expertise in the pharmaceutical industry, assuring that customers benefit from the best available terms in pricing, inventory control, distribution, and payment.
McKinsey is correct – managing supply chain issues within the pharmaceutical industry presents a number of challenges, many of which can be extremely costly. OC Reilly has the people, the expertise, and the capabilities to support health care customers navigate those challenges effectively. Learn more by clicking on the SERVICES tab and selecting the Pharmaceutical Contracting page on the OC Reilly website.
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