THE KEYS TO ADDRESSING PHARMA SUPPLY CHAIN CHALLENGES – ESG, DIVERSIFICATION & GLOBAL HARMONIZATION
Since 2022, the global population of > 8 billion human beings have been consuming our natural renewal resources faster and faster, currently at a rate which is twice as much as our planet generates per year. Even commodities such as steel and wood are becoming scarce, as different industries and countries compete for the limited supply. We are also now experiencing the dramatic and often fatal effects of global warming on all continents.
Over the past 30 years, although the global economy has proven that collaboration and innovative technology can solve many problems, as was in the case of Hydrochlorofluorocarbons (HCFCs) becoming a greener alternative to the damaging effects of CFCs, the recent pandemic demonstrated how quickly those improvements can be undermined due to supply chain disruptions such as lock downs, transportation restrictions, and political conflicts. Through this process we have been forced to shine a collective light on the economic responsibilities connecting global warming, the need to consume fewer resources, and shifting supply chains.
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