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A new report commissioned by LogiPharma revealed the growing impact of artificial intelligence (AI) and machine learning (ML) on pharmaceutical supply chains, highlighting AI’s shift from a “nice-to-have” to a “need-to-have.”
"AI is no longer just a tool for efficiency; it’s becoming a core enabler for pharmaceutical companies striving to meet the demands of a complex, fast-evolving market," says Will Robinson, conference director of LogiPharma.
Key takeaways:
- According to the report, over half of respondents expect a return on investment (ROI) from AI and ML initiatives within 2-3 years, underscoring the sector’s confidence in the technology’s potential.
- AI plays a pivotal role in optimizing inventory management, with 40% of companies prioritizing AI for demand forecasting and minimizing waste, particularly for temperature-sensitive products like biologics and vaccines. Additionally, 69% of pharmaceutical companies have implemented AI-driven automated alerts to monitor cold chain logistics in real time, ensuring temperature-sensitive products are transported safely and effectively.
- Only 11-25% of supply chain partners are currently using AI-driven processes, indicating that while the benefits of an interconnected, AI-enabled ecosystem are evident, broader adoption is needed for full impact.
- 44% of respondents focusing on AI-powered sales and operations planning (S&OP) to enhance agility in response to market fluctuations and regulatory changes.
