The Story
The COVID-19 pandemic, which shook the world globally in the year 2020, claiming 6908554 deaths till April 19th, 2023, had a dramatic effect on the demand and supply of products, thereby significantly disrupting the supply chain of businesses. Focus of the organization on developing vaccines for COVID-19, had a severe downturn on veterinary drug product line. Research Nester’s analysts observed that during the year 2020, about 15% of businesses in the healthcare industry had lost of over USD 500 million, while around 35% and 19% of businesses recorded losses between USD 60 and 100 Million, and between USD 100 and 500 Million respectively. Our estimates also suggest that within the next 10 years, supply chain disruptions would tally to around 49% of the profit generated in a year for business organizations. Unlike other businesses that were impacted as a result of COVID-19, the leading veterinary drug manufacturing company also experienced stern fluctuations in the demand and supply of their drugs and vaccines. These impacts were continuing since then and were hampering the market share of the organization. Lately, when the veterinary drug manufacturing company experienced this major set-back, it requested Research Nester to act on its behalf to find out a solution for the problem. The team of consultants and analysts at Research Nester found out that the organization missed out on the following major areas:
- 1. Lack of attention on available stock at various levels of distribution.
- 1. Availability of higher quantity of near-expiry products.
- 1. Improper order collection mechanism.