It is not surprising, therefore, that the healthcare supply chain market ($2.31 billion) is projected to grow at a momentous CAGR of 40.2 % during the period to 2023. A 2013 Mckinsey report suggested five specific supply chain capabilities that can have a dramatic impact on performance and profitability, with an estimated $130 billion opportunity in cost savings across the value chain. More than 70 percent of healthcare supply chain executives identified specified collaboration as the greatest opportunity. Improving data-driven decision making is the area most critical to the future of supply chain in healthcare with focus on real-time data analytics and integration of supply chain and clinical processes being key. There are several criteria imposed by the Drug Supply Chain Security Act (DCSCA) when it comes to medication provenance tools.

Source: Forbes January 18, 2019 23:26 UTC