Cost reduction is a focus for many at the moment and understandably so. Multinational pharmaceutical company, Glenmark, is just one of those businesses looking at how they can optimise their costs globally. As a result, they have partnered with AI data-driven supply chain management platform 7bridges. Initially focusing on their European business, where they have operations in 15 markets, the supply chain and logistics function is a big focus area for this cost reduction.
The partnership with 7bridges will allow Glenmark to baseline their supply chain data giving them visibility of data, cost and service performance across their network of logistics service providers. This exercise will identify areas where invoices from their logistics service providers are being incorrectly or overcharged. With automatic dispute raising, savings will be quickly achieved. The platform will then enable Glenmark to benchmark their data, so they can compare the performance and cost of their LSPs to the wider industry.
With Glenmark’s global vision to emerge as a leading integrated research-based global pharmaceutical company, this investment in their supply chain will be integral to achieving this. The next step in the partnership will be to run simulations to optimise road freight services and 3PL operations, with the aim to then roll out globally.
Christoph Stoller, President & Business Head of Europe at Glenmark said:
“We were looking for a supply chain data solution that provided us with quick value, clear spend reduction and that also gave us the flexibility to drive carrier relationship improvements, which I believe we’ve found in 7bridges. The platform gives us greater visibility across our entire supply chain and will help us build the resilience needed to continue to effectively serve our customers. The partnership is tightly aligned to Glenmark’s digital transformation goals and network growth and I look forward to working with 7bridges on this journey.”
Philip Ashton, CEO and co-founder of 7bridges commented:
“Glenmark is an innovative business which explores the unparalleled possibilities of science. We’re delighted to be working with Glenmark to optimise their logistics network and help them create a robust and resilient supply chain that is equipped to handle their predicted growth. With supply chain disruptions becoming an unavoidable part of pharmaceutical business, it is great to see companies like Glenmark investing in the tools necessary to safeguard themselves.”
About Glenmark Pharmaceuticals Ltd.
Glenmark Pharmaceuticals Ltd. is an innovation-driven, global pharmaceutical company with a presence across Branded, Generics, and OTC segments; with a focus on therapeutic areas of respiratory, dermatology and oncology. The company has 10 world-class manufacturing facilities spread across 4 continents, and operations in over 80 countries. In Vivo/Scrip 100 positions Glenmark amongst the Top 100 Companies Ranked by R&D and Pharmaceutical Sales, 2021; while Generics Bulletin/In Vivo places it in the Top 50 Generics and Biosimilars Companies Ranked by Sales, 2021. Glenmark has impacted over 2.6 million lives over the last decade through its CSR interventions. For more information, visit www.glenmarkpharma.com. You can follow us on LinkedIn (Glenmark Pharmaceuticals) and Instagram (glenmark_pharma).
About 7bridges
The world needs supply chains that can adapt quickly - That means they are integrated, data first, responsive and resilient.
7bridges gives you the ability to understand the impact of every decision you make - gathering all your data in one powerful platform so you have full control and a birds-eye view. Our AI lets you test out new ideas and adapt to real world disruptions; giving you more room to innovate.
7bridges is committed to reinventing supply chain management because smarter supply chains benefit everyone