Analysis of the supply chain risk management in pharmaceutical industry
Keywords:
Pharmaceutical, Supply chain management, Supply chain uncertainty, Supply chain risk management, Demand and supply uncertainties, Supply chain resilienceAbstract
This study investigates the escalating complexity and risk in global supply chains, with a particular focus on the pharmaceutical industry. As trade chains become longer and more intricate, the likelihood of disruptions increases, affecting the efficiency and reliability of supply chains. Despite its significance, research on risk management practices specific to the pharmaceutical industry remains limited. This study addresses this gap by evaluating how pharmaceutical companies in Pakistan assess and manage risks. Data were collected through a structured questionnaire distributed to pharmaceutical companies and other industries and analyzed using SPSS. The study, which used a five-point Likert scale and non-probability convenience sampling of 150 to 165 respondents, highlights the impact of supply-related, production-related, and demand-related risks on supply chain operational performance. Findings indicate that addressing these risks through targeted strategies can significantly enhance supply chain management and operational efficiency. The study emphasizes the importance of comprehensive risk assessment and mitigation strategies to improve resilience and performance in the pharmaceutical industry. Limitations include a restricted timeframe and sample size, suggesting the need for further research in different industries and regions to validate and expand on these findings.
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