Louis Roy, Founder & President, Optel Group started his address by lauding the Indian pharma industry for tracing a glorious journey and expanding its footprints to even far flung corners of the world. However, he went on to highlight that now it is time to enter the next phase of growth and this would require different sets of capabilities and new-age approaches.
He said that in order to stay competitive and profitable, and achieve their global ambitions, the companies would need to keep improving constantly. He also urged that there is a need for renewed focus on product safety and efficiency to tackle growing challenges in the life sciences industry.
He went on to highlight that an effective supply chain has a major role to play in the progress of the industry and explained how improving visibility in the supply chain can help derive significant benefits. He also pointed out that if supply chain visibility is adversely impacted, it can have very serious impact on businesses, especially in the pharma industry. He advised that technology is the tool to improve supply chain visibility and gain significant advantages, including profitability.
He said that AI will bring in a lot of transparency and drive a lot of decisions with the help of data. He concluded that intelligent supply chains will be key to progress.
He also assured that the Optel Group is investing in the right solutions to help Indian pharma companies move up the value chain.