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"How best in class biopharma companies have reduced their drug waste by 50%"
Did you know that the estimated waste level of packaged material in the industry is between 50 - 70%? These numbers are based on N-SIDE’s analysis and the results of surveys performed by McKinsey.
However, what is interesting is that most pharmaceutical organizations actually don’t realize they have such a high level of waste. This can be explained for multiple reasons.
Reasons why companies do not realize they have high drug waste levels in their trials
First of all, each company has a different way of calculating trial waste, making it difficult to have a proper benchmark in the industry. Even within the same organization, it can be difficult for different teams to have complete visibility on the overall waste management, and understand if all aspects of the patient demand have been covered.
The accuracy of the demand forecasts is also very important, in terms of quantities to be packaged or sourced, and also considering the right timing. To counter-balance the level of uncertainty, supply chain managers often inflate their demand forecasts as well, giving them the wrong impression of low waste level in their clinical trials.
Last but not least, the expected waste level at the beginning of the trial can also be very different from the actual one at the end of the trial.
Ways to keep waste under control
To keep the waste levels under control, frequent monitoring and adjustments have to be considered along the way. In doing so, the team can anticipate any deviations, from the recruitment projections to the various supply chain needs.
To better understand what is the level of waste in your organization and its root causes, don’t hesitate to request a waste analysis for one of your trials. Our N-SIDE experts can support you to unlock the hidden value in your clinical supply chain planning.
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