Digital Manufacturing Can cut Manufacturing Costs by 20% in Pharma
In Pharma Industry, Manufacturing is poor cousin of Marketing and R&D. Manufacturing optimization is less focused area with lot of scope for efficiency improvement in Quality, Production and Operations.
Until recently, most pharma companies have adopted digital manufacturing tools slowly, worrying that their systems, data and people weren’t ready. But many have decided further delay isn’t an option and have begun experimenting with Industry 4.0 solutions. Pharma executives expect smart connected factories to produce total savings of 20% or more, while improving quality and making deliveries more reliable. Specifically, they forecast a 17% reduction of costs related to poor quality, a 15% decline in the cost of converting raw materials into drugs and a 14% increase in delivery reliability.
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