3 Keys to Driving Collaborative Growth in Life Sciences
26 March, 2015 James Jardine, MasterControl
|Life science companies are being
frustrated in their attempts to bring
higher quality products to market.
A recent study by LNS Research shows that life sciences companies are facing an unprecedented demand for better and safer products. Results from LNS Research’s surveys of industry executives indicate the pressures life science organizations are facing and the new technologies and processes they are employing to meet rising needs.
There are two paramount “megatrends” compelling life sciences companies to bring higher quality products to market at an accelerated rate:
1. Increasing old-age dependency – As the life expectancy of the world’s population continues to increase, so does the cost of health care associated with increased incidences of chronic ailments.
2. Proliferation of personalized medicine – Research indicates that the demand for medical treatments associated with an individual’s genotype will increase.
As life sciences companies attempt to meet these rising needs they are encountering a variety of roadblocks to success, including:
- Regulatory burdens – Regulatory requirements are always a major consideration for life sciences companies. Based on recent trends, regulatory issues will only continue to increase. For instance, the FDA’s routine QSR inspections have increased by 37 percent in the U.S. and 93 percent abroad between 2005 and 2012.
LNS Research has identified three keys to overcoming these obstacles in order to effectively drive collaborative growth in life sciences:
- Quality management and supply chain optimization – According to LNS Research survey results, 47 percent of life sciences executives think that the greatest challenge to new product development is quality management. In fact, the surveys indicate that quality management issues are the number one impediment to the delivery of products to patients, ranking slightly ahead of supply chain optimization.
1. Create a culture of quality and compliance – The best way for a company to accelerate the time it takes a product to get to market is to establish quality and compliance as benchmarks of operational excellence throughout the enterprise. Quality is not just the obligation of the quality department—it must be a vision of operational excellence that is shared by executives, managers, and workers on the shop floor. Business performance improves when quality and compliance are top priorities throughout every department.
2. Establish effective closed-loop processes across the value chain – Most companies silo quality information because they are in a constant state of quality management disconnect due to technological limitations, shortsighted IT strategies, reliance on inefficient solutions, and similar types of challenges. This proves that siloing information or actions throughout the lifecycle of a product is no longer a viable quality management strategy. Data that is siloed becomes decentralized and inaccessible interdepartmentally. Quality data and activities are most successfully managed within closed-loop processes. A central quality system that is accessible across the enterprise allows a company to close quality loops between different information sources, which streamlines data flow and ensures continuous improvement.
3. Tightly integrate Manufacturing Operations Management (MOM) Software and Enterprise Quality Management Software (EQMS) – Process automation and electronic document management makes outdated, inefficient methods of quality management obsolete. In addition, a software system that automates and standardizes reporting, analytics, configuration, mobility, and interoperability enables improved communication and collaboration between enterprise systems. When these enterprise systems are connected it is easier to share quality and manufacturing information and the ability to proactively manage quality is maximized.
Below, an infographic encapsulating LNS Research’s findings illustrates how these principles are allowing leading life sciences companies to thrive and outperform competitors who are stuck using inefficient quality management techniques and outdated technology:
|Credit: LNS Research, used with permission
|For additional information about closed-loop quality management, there is an eBook presented jointly by LNS Research and MasterControl that provides more details about how leading manufacturers are connecting the value chain to achieve and maintain market leadership. You can access the complimentary LNS eBook: Closed-Loop Quality Management here.
James Jardine is a Marketing Communications Specialist for MasterControl Inc. He has a bachelor’s degree in journalism from the University of Utah and is based in MasterControl’s headquarters in Salt Lake City, Utah.