How External Vendor Data Can Optimise Clinical Trial Supply Chain Efficiency
The supply chain for clinical trials is a complicated logistical system. It involves a complex network of processes, from planning supply activities to moving drugs from one point to another. These undertakings face potential risks, such as planning uncertainties, shipment delays, and packaging issues. These challenges can delay and even derail clinical trial approval. Good thing external vendor data can be used to optimise supply chain efficiency. It provides insights into planning, cost reduction, inventory control, and risk mitigation. In the following sections, we’ll discuss these points in more detail.
Streamlined Vendor Collaboration
A smooth supply chain requires clinical trial organisations to communicate and collaborate effectively with vendors. This helps them get real-time updates on order status, delivery dates, and potential delays. This visibility allows them to respond quickly to changes and cushion themselves to ensure success in clinical study.
External vendor data can also determine who’s more reliable based on their history. This allows you to work with those you can trust to deliver when needed. This will ultimately help your organisation create a more resilient and responsive supply chain.
One of the best ways to ensure efficient vendor collaboration and communication is by improving external vendor data integration using tools like Pinnacle 21 Enterprise. These platforms provide a centralised collaborative space where you can receive, edit, validate, and manage data. Another advantage is the transparent audit trail for all your external vendors, ensuring nothing is lost or inaccurate.
Enhanced Forecasting and Demand Planning
Forecasting demands is one of the most challenging aspects of clinical trial designs. There could be seasonal fluctuations or potential delays in the delivery of raw materials and trial supplies. To reduce potential risks, organisations need to use external vendor data for critical insights into supply and demand trends so they can predict their needs with greater accuracy.
For instance, historical vendor data can be used to determine seasons where a particular vendor has shortages of raw materials. In this case, the clinical study organisation can engage other vendors so that the supply chain isn’t affected.
Additionally, real-time data sharing with vendors allows for more responsive demand planning, making sure that supplies are available when and where they are needed. One study on the impact of supply shortages indicated that inadequate planning, procurement, and forecasting were the most significant contributors to supply shortages (48.5%). Hence, there’s a need for proper planning to ensure the supply meets the demand. (1)
Improved Inventory Management
Managing clinical trial inventory is a delicate balancing act with no room for errors. If you’ve got too much inventory, there’s a risk of wastage, spoilage, or expiry. This means that the cost will be higher than the set budget. And if it’s too little, it can disrupt the trial schedule.
External vendor data ensures constant optimal stock levels. You’ll get insights into available inventory, lead times, and reorder points. Integrating vendor data into centralised inventory management systems brings better visibility into supply levels across multiple sites. This enables them to adopt a just-in-time (JIT) approach, which reduces waste while ensuring the necessary supplies are always available.
Cost Reduction and Budget Optimisation
The cost of developing medical products is pretty steep, and the clinical phase takes up to 69% of the total research and development expenses. Any delays and disruptions in the supply chain can add up to these costs. A good way to bring the numbers down is to use external vendor data as it provides valuable insights into pricing trends, helping organisations identify cost-saving opportunities. (2)
Accessing external vendors’ pricing data allows organisations to compare options, negotiate better deals, and choose the most cost-effective suppliers. Additionally, with this information, you can track vendor performance over time and highlight areas where costs can be reduced without compromising quality.
These cost-saving measures optimise the supply chain budget and free up resources. These resources can then be allocated to other critical aspects of the clinical trial or redirected back to the supply chain cycle if a process needs to be repeated.
Ensuring Compliance and Risk Mitigation
Compliance is a critical aspect of clinical trials. It should start with the organisation conducting the study and going through the supply chain. All the materials and processes involved should meet all regulatory requirements so there won’t be any roadblocks that could affect approvals.
External vendor data lets you know whether they meet these standards in their sourcing, production, or packaging of materials. For example, vendor audit data can provide insights into suppliers’ adherence to Good Manufacturing Practices (GMP), which ensures their products follow the required specifications and are appropriate for their intended purpose. (3)
This information can be stored in one central place, making it easy to check the compliance status of each vendor.
Conclusion
External vendor data is a valuable tool in your clinical trial supply chain. It helps streamline vendor collaboration and inventory management and cuts costs, among other benefits. With the correct data, you get insightful details about the supply chain, optimise it, and ensure no delay in the process.
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References:
- “Analysing the causes and impact of essential medicines and supplies shortages in the supply chain of the Ministry of Health in Saudi Arabia: A quantitative survey study”, Source: https://www.sciencedirect.com/science/article/pii/S2352914824000133
- “Drug Development”, Source: https://aspe.hhs.gov/reports/drug-development
- “Health products policy and standards”, Source: https://www.who.int/teams/health-product-policy-and-standards/standards-and-specifications/norms-and-standards/gmp