Pharmaceutical and life sciences enterprises face a dynamic future. New breakthroughs in drug development, technological advancements and globalization represent distinct opportunities.

However, the severe decline in R&D efficiency — evidenced by the shrinking number of new drugs brought to market relative to actual R&D spending — has been a major challenge. In this environment, pharmaceutical and life sciences enterprises need to reconsider their procurement and supply chain strategy and assess the effectiveness of their technology investments.