Building a Good Relationship with Suppliers - Journal

Balancing between human communication and artificial intelligence when it comes to supplier relationships.

What are the specific trends and challenges in procurement strategies in your industry? What is the vision of strategic sourcing and procurement for upcoming year?

In the context of balancing supply and demand, the below points highlight the trends & challenges in procurement for pharma industry:

Increasing Regulation and Scrutiny
Counterfeit Pharmaceuticals Development
Digitalisation & Industry 4.0 Techniques
Economic Stability & Uncertainty
Drug Pricing Pressure Drives Focus on Operational Efficiency
Data Integrity Challenges Across the Pharmaceutical Supply Chain

Human communication or artificial intelligence: What is the perfect way of building a good relationship with suppliers?

A well-balanced relationship is very important & balancing between human communication & artificial intelligence is very important. AI and trust management are fully able to positively reinforce each other, in unexpected ways. Pharmaceutical executives are under intense pressure.

Supply chain sustainability: What is the colour of your Supply Chain? Are supplier ecosystems and the power of networks the next big step in procurement?

Of course supplier ecosystems & power of networks is of a huge importance for future steps in Procurement, the image below describes briefly the impact of health suppliers & customers networking.Especially CPOs will move out of the dark corner as cost centre and become real.