LogiPharma is the premiere event for supply chain executives in the pharmaceutical industry. Every year, attendees get together to discuss changing market conditions, challenges in life sciences, and general supply chain management.
Overhaul began the conference with a celebration of our customers at Pierre Orsi in Lyon, France. The next day, the Michelin Star restaurant closed its doors forever. It was a privilege to have this once in a lifetime experience with Arvato and our customers.
The following day, our own Amy Shortman served as moderator for the panel, “Mitigating Risk and Navigating Black Swan Events.” She was joined by Santen’s Corporate Officer, Global Head Supply Chain Management Frank Binder, Envirotainer COO Niklas Adamsson, and Alberto Cifuentes, Senior Director, International Developed Markets Strategy Lead at Pfizer Global Supply Chain.
Here’s an overview of what they discussed:
LogiPharma Europe Panel
Navigating Black Swan Events
Black swan events are well known in the industry and often take the form of natural disasters. These low-probability, high-impact events can have a profound effect on pharma supply chains.
An audience poll revealed that the COVID-19 pandemic was the most influential black swan event in recent years. This and other black swan events — including the Suez Canal disaster — have especially impacted global logistics.
Of course, it’s important to plan for these events in order to keep pharmaceutical supply chains afloat. But interestingly, nearly half of attendees agreed that more time should be diverted from black swan preparedness toward planning for “white swan” events.
White swans are high-probability, low-impact events that can easily add up or suddenly turn into high-impact events themselves. They exemplify why risk must be managed on both a micro and macro level to ensure resilient supply chain operations.
In short, pharmaceutical companies already face unique challenges, and they must be ready for whatever’s ahead. For this reason, supply chain leaders must prepare not only for black swans, but also green, white, and everything in between.
LogiPharma Conference – What’s Next?
LogiPharma 2023 was a great opportunity to meet with other heads of supply chain to discuss supply chain logistics and digital transformation. The black swan panel in particular was also notable for the amount of women who attended.
Global supply chains are still male-dominated, and just as we must remain vigilant against black and white swan events, we must also be aware of gaps within our internal frameworks. Diverse experiences are a must for decision makers, and more women leaders will only benefit the supply chain industry.
If we didn’t get a chance to connect with you at LogiPharma Europe, grab some time with one of our experts or learn more about our recommended best practices for pharmaceutical companies.