PSCI
Tackling multi-tiered supply chain risks together Given the size and complexity of global, multi-tiered pharmaceutical supply chains, managing ESG risk is a monumental task.
“ At PSCI, we have the collective authority and opportunity to manage those. It allows us to tackle some of the most difficult, complex problems together rather than as individual companies,” says Lucy.“ It is really a case of bringing lots of different brains and smarts to the table, lots of different skills and saying, how do we collectively tackle this? We must continually adapt to emerging topics and risks”
To drive this collective effort, PSCI operates as a non-profit business association, uniting pharmaceutical and healthcare companies to foster continuous improvement and responsible management across the global sector.
“ Supply chain resilience is so important, particularly in pharmaceuticals and medicines. Whereas I think when it started 20 years ago, it was probably fair to say it was‘ nice to have,’ it’ s very much fundamental now to procurement and the way that companies operate,” says Lucy.
“ Increasingly, in the last five years we’ re seeing more senior-level conversations with CPOs and beyond who recognise the value of what we can do together, in terms of efficiencies, but also the subject matter expertise that all of our member companies put forward.”
“ Given the size and complexity of global, multi-tiered pharmaceutical supply chains, managing ESG risk is a monumental task”
Lucy Latham Global Head of Procurement, ESG Sandoz
However, driving unified standards across a global industry brings significant hurdles, including varied maturity levels, resources, expertise and priorities of individual member companies.
“ It’ s not about applying a one-sizefits-all approach. The question is: how do we set clear standards which make sense around the world and meet our different customers’ expectations, and which support our overall mission of sustainable supply chains,” says Lucy.
Another significant challenge is the speed at which the landscape changes.“ The agenda doesn’ t stand still,” says Lucy.“ We look at decarbonisation, human rights, biodiversity, cyber security and regulation and they’ re constantly evolving. So even when we think we have a maturity model that makes sense, a new regulation will come in and derail it, and we have to start again or revisit it.”
6 pscinitiative. org