Tools
Tools
Delamere, Dylan (2025) How can Blockchain and AI improve Risk Mitigation Inventory strategies in Pharmaceutical Supply Chains to aid resilience and regulatory compliance? Undergraduate thesis, Dublin, National College of Ireland.
Preview |
PDF (Bachelor of Arts)
Download (1MB) | Preview |
Abstract
Due to the industry's strict regulations, long lead times and the potentially fatal effects of drug shortages, pharmaceutical supply chains face significant obstacles in their attempts to undergo digital transformation. With product forecasting accuracy as low as 35% and errors as high as 300% in certain markets, traditional Risk Mitigation Inventory strategies reveal significant weaknesses.
Six key themes emerged from the research findings, patient safety serves as the paramount responsibility of pharmaceutical supply chain, requiring RMI levels that extend beyond six months for essential medications. Organisations have considerable forecasting difficulties, with 82.1% continuing to depend on Excel spreadsheets for their operations. Despite widespread recognition of technological potential, current adoption remains limited across the industry. Effective communication and collaboration have been identified as critical success factors in order to adapt digital transformations. Pharmaceutical companies employ diverse risk mitigation strategies that extend beyond traditional inventory management approaches. Finally, the research revealed optimistic future directions for digital transformation initiatives. These findings highlight a crucial disconnect within the pharmaceutical industry. While substantial gaps exist between technological capabilities and actual implementation, several key barriers continue to impede progress. Organisational culture, regulatory compliance requirements, and workforce development challenges represent the primary obstacles to successful technology adoption.
Supply chain resilience and RMI strategies could be greatly enhanced by the introduction of blockchain and AI. However, rather than depending purely on investments in technology successful implementation calls for a comprehensive organisational transformation. The results of the study show how important patient safety is in pharmaceutical supply chains which sets them apart from other sectors. As a result of this the industry needs specific digital transformation strategies that simultaneously address current operational, cultural, and regulatory challenges within the sector.
Actions (login required)
 |
View Item |