Pharma Supply Chain Digitalization – Interview with Andy Whytock, Head of Innovation at Siemens
Andrew Whytock, Head of Digitalization and Innovation, Pharmaceutical Business, Siemens sat down with us at the recent European Adents Serialization Innovation Summit to discuss digitalization and how it’s influencing the future of medicine in labs around the world today.
Pharmaceutical companies play a central role in the digital revolution of healthcare. But capturing this opportunity requires identifying the right initiatives.
Pharmaceutical companies are running at warped speed to keep pace with the disruptions and changes brought about by digital technology. Blockchain, AI and Machine Learning, BI and analytics, and the Internet of Things are among the innovations that are transforming the healthcare industry in the ways they have already transformed the media, retail, and banking industries. We believe disruptive trends indicate where digital technology will drive the most value in the pharmaceutical industry, and they should guide companies as they build a strategy for digital success.
Today, the average patient is much less dependent on their doctors for advice and is increasingly able and willing to take greater control of their own health. They feel empowered by the vast amount of health information available online and on apps, and by the array of health and fitness wearables such as FitBit and Apple Watch. Patients are also becoming more informed when it comes to evaluating different healthcare products and services given that they are responsible for a portion of the costs. In today’s digital world, the ability to engage with patients as they make such evaluations could be key to the success of a pharma company’s commercial model.
Information and insights into patients’ histories and clinical pathways are no longer reserved for traditional healthcare. Where once healthcare providers’ paper-based medical records were the main source of patient health data, and drug research and development data were kept within the walls of the pharma companies, today, technology companies such as our trusted partner, Microsoft have already moved into healthcare.
Advanced analytics and the automation of complex decisions can deliver a change in the efficiency, speed, quality, and responsiveness of business processes in all industries. The pharmaceutical industry is no exception. To thrive in today’s digital world, pharma companies know that they need to deploy next-generation technologies to streamline their business processes. They need to achieve near real-time transparency in the supply chain, as well as meet new expectations in efficiency and agility from customers, employees, patients, and suppliers.