By James Jardin
To meet the demands of an evolving regulatory and competitive landscape, pharmaceutical, biopharmaceutical and biotechnology companies are finding that they must change their traditional approach to product life cycle management. There is a broadening recognition that improvements to the management and operationalization of data can not only be a compliance accelerator, but a competitive advantage as well.
In an era marked by digitization and acceleration, the future of effective product life cycle management lies in an organization’s ability to connect essential data across every point in the product life cycle and leverage previously inaccessible or disconnected data to drive success to new heights via machine learning (ML), artificial intelligence (AI) and predictive analytics tools. Pharma and biotech leaders have discovered that employing advanced digital tools designed to connect data allows them to proactively drive efficiency, accelerate time to market, improve product quality, and ultimately achieve better patient outcomes. Adopting a data-driven and technology-supported approach to quality and product life cycle management can enable pharma and biotech organizations not just survive, but thrive, and help them to transform quality from a responsibility into a business-propelling differentiator.