Supply chain 4.0 technologies for value creation in pharmaceutical industry

Abstract

Purpose The global health-care system heavily depends on the pharmaceutical sector. In recent years, supply chain 4.0, with innovative technologies such as Internet of things (IoT), machine learning, artificial intelligence (AI), big data and blockchain, transformed all industries, including the pharmaceutical sector. This study aims to explore the integration of supply chain 4.0 into the pharmaceutical industry and how does it create value for the sector. Design/methodology/approach The study uses a qualitative approach to collect real-life examples and experiences from pharmaceutical supply chain professionals. Using semistructured data, themes and codes are identified for the critical supply chain functions of the pharmaceutical companies where the supply chain 4.0 technologies create value for the sector. The authors have mapped different supply chain 4.0 technologies to the different nodes. Findings Qualitative study resulted in developing a framework that integrates supply chain 4.0 with the inbound, in-house and outbound supply chain functions of the pharmaceutical industry, creating value. By using IoT, AI big data, blockchain, robotics and other advanced supply chain 4.0 technologies, pharmaceutical companies can transform their operations to ensure that vital drugs are readily accessible and enhance well-being. Research limitations/implications The framework developed can be applied to determine the significance and application of supply chain 4.0 technologies in the pharmaceutical industry’s value chain. Originality/value The study details the influence of supply chain 4.0 technologies on the pharmaceutical industry. In addition, these innovative solutions contribute significantly to the progress of health care by promoting resilience, transparency and accountability in the pharmaceutical industry.