Information Technology Foresight

The latest thinking on creating competitive advantage through information technology.

September 2017

Digitization in pharma: Gaining an edge in operations

The pharmaceutical industry is beginning to make real strides in bringing digitization to its manufacturing and supply chain operations. Its success can serve as a lesson for digital leaders in every industry.

80% — of companies will have implemented a digitized value chain within five years.

In this month’s issue of IT Foresight, we feature Digitization in pharma: Gaining an edge in operations, an examination of how one industry is applying digital technologies to boost operational efficiency and meet the challenges of globalization and increased complexity in how healthcare is delivered. Your company is likely to be facing many of the same issues as you confront the pressing need to enter the digital age.

Featured Foresights

Digitization in pharma: Gaining an edge in operations
Strategy& viewpoint
Until recently, the pharmaceuticals industry has moved cautiously in its efforts to reap the benefits of digitization. That’s changing. Efforts to build a digital supply chain ecosystem are leading to improvements at every stage of the operations value chain: plan, source, make, and deliver. Among the benefits: better planning accuracy, greater manufacturing efficiency and productivity, lower inventory levels, and higher service levels. While issues such as cybersecurity and initial cost remain concerns, few large pharmaceutical companies can afford to lose out on this opportunity to gain real competitive advantage.
Enabling better healthcare with artificial intelligence
PwC article
Advances in artificial intelligence are poised to solve a fast-rising problem in healthcare: the vast amounts of data being collected and stored in the course of patient care, most of which is unstructured photos, videos, recorded dialogue, physician notes, and the like. Systems capable of converting this data into intelligence will soon be used in areas such as diagnosis and epidemiology, and new patient monitoring and diagnostic devices are already on the market. Will patients accept the use of these technologies as part of their care? The evidence suggests that the answer is yes.
A Manual for Self-Disruption
s+b article
Here’s some advice for how to compete in the digital age: Don’t be your own worst enemy. Standing still while the forces of digitization are disrupting your industry is a recipe for disaster. Maybe it’s time to disrupt yourself. But how? Hire true iconoclasts who are ready, willing and able to speak the truth; accept that digital transformation means operating in a constant state of flux; and create a sense of urgency among your company’s top leaders.

Information Technology Foresight archive

November, 2017
Companies have benefitted greatly from the globalization of innovation. But the rise of economic nationalism threatens to reverse this trend, hampering corporate R&D and its positive impact on financial performance.

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