How Pharma 4.0 will revolutionize the Pharmaceutical Industry - Pharmision Barcode India

 

The pharmaceutical industry has been undergoing a massive overhaul. There’s a paradigm shift that is going on, to further improve productivity and quality. And the Pharma 4.0 initiative is the benchmark that the industry is trying to gradually upgrade to.

Through digitalization and the use of smarter tools and processes, Pharma 4.0 is expected to not only improve productivity but also ensure better quality and save time and costs, among several other benefits.

ISPE (International Society for Pharmacoepidemiology) is in the process of developing the roadmap to introduce Industry 4.0 to the pharmaceutical industry as Pharma 4.0.

What is Pharma 4.0?

Developed in 2017, Pharma 4.0 is an ISPE initiative that aims to improve the processes throughout the life cycle of pharmaceutical products with the help of modern smart technology.

It aims to do so by aligning the pharmaceutical industry with the philosophy of Industry 4.0. Read more.....

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Pharma Digital Transformation – The Key to a Better Future - BCI Pharmision

The pharmaceutical industry is undergoing a wave of digital transformation. Powered by technologies such as advanced mobile communications, the cloud, advanced analytics, and the Internet of Things, the sector has been able to achieve dramatic results in terms of product quality, costs incurred in production, and time required for manufacturing. Today, pharma executives are well aware of the disruptive potential of embracing and utilizing technology and are experimenting with a wide range of digital initiatives.

However, there are companies that are yet to understand the importance of digital transformation.

A McKinsey study on Digital Quotients (DQ) across sectors on a 100-point scale found that
pharma’s score of 27 lags behind the average of 33 across sectors. It even trails other highly regulated businesses, such as banking (32) and insurance (31). In fact, pharma scores were closer to those of sectors that historically have been digital laggards, including the public and social sectors.

For more information, visit https://www.pharmision.barcodeindia.com/blogs/pharma-digital-transformation-the-key-to-a-better-future/