Establishing and Enhancing a Risk Management Strategy in Life Sciences' Supply Chain
Fast-Growing Drug Discovery Company Empowered to Manage Supply Chain Risks Independently
Clarkston Consulting has successfully equipped a fast-growing drug discovery and development company with the tools necessary to manage supply chain risks effectively. The client engaged Clarkston to define a Supply Chain Risk Management (SCRM) Model, which has since enabled them to conduct a risk assessment from start to finish, both now and in the future.
The project was approached in three phases. The first phase involved developing a standard procedure for managing supply chain risk. This was followed by the creation of a playbook for business areas to utilize for supply chain risk assessment and planning. In the third phase, pilot assessments were conducted using the procedure and playbook.
The SCRM Model provided by Clarkston allows for ongoing supply chain risk assessments across the client's essential business functions. The deliverables included a detailed business procedure, templates, and instructions for the model.
The playbook encouraged stakeholders to consider potential risks such as natural disasters, technology outages, human factors, supply chain disruptions, brick-and-mortar damage, and geopolitical influences. Stakeholder interviews were conducted, and process guidance was documented in the playbook.
Thanks to the procedures and guidelines provided by Clarkston, the client is now self-sufficient in managing their supply chain risks. They are now able to lead and manage future supply chain risks across their essential business functions independently. The client is also now capable of independently leading and managing their supply chain risks, thanks to the empowerment from the Clarkston team.
While Clarkston Consulting has not publicly released a detailed, comprehensive SCRM model with specific procedural and template-based components covering all named risk categories, their expertise in the life sciences sector suggests that their approach to supply chain risk management likely includes robust risk identification and categorization, data governance and security, training and awareness programs, technology tools and compliance, and strategic advisory.
Direct consultation with Clarkston could provide access to their life sciences-specific supply chain risk management frameworks, which may include risk assessment and mitigation templates, crisis response protocols for natural disasters and outages, supply chain mapping and risk prioritization tools, guidelines to manage geopolitical risks and regulatory changes, and processes for continuous monitoring and improvement.
- The fast-growing drug discovery company, with the aid of Clarkston Consulting, has embraced technology to independently manage supply chain risks in life sciences.
- The SCRM Model provided by Clarkston not only empowers the client to conduct risk assessments but also ensures the client can do so consistently in the future.
- In their efforts to manage supply chain risks, the client considered various factors such as natural disasters, technology outages, human factors, and geopolitical influences.
- The supply chain risk management playbook developed by Clarkston encourages stakeholders to be proactive in identifying potential risks and developing contingency plans.
- Through Clarkston's expertise in the life sciences sector and the tools they provided, the client is now self-reliant in not only managing current supply chain risks but also preparing for future ones.
- Aside from supply chain risk management, Clarkston also offers consulting services in health-and-wellness, business, technology, education-and-self-development, and general news.
- By directly consulting with Clarkston, the client could gain access to life sciences-specific frameworks and strategies, helping them navigate potential financial and lifestyle challenges arising from managing medical-conditions and other aspects of their operations.
