December 2023: Unlock the Full Potential of Your DSCSA Investment, For Pharmaceutical Brand Owners to Boost Revenue and Reduce Costs

Congratulations, it is December 2023. Thru a massive effort by your team, partners, and customers, you have completed the #DSCSA 2023 compliance work.

How do you turn that mandatory investment into revenues and cost savings?

You now have a rich data set from the outside world that you can mine. As Lora Cecere calls it, you now bringing the "outside-in." It measures what happened between manufacturing and your retail partners at a granular level. Besides, with the EPCIS format, you now have both traceability and unique serial numbers.

Your data scientists have access to internal data and external sources. External sources include US Custom data and data sets like FDA recall data. Combining these, plus EPCIS allows you to identify issues and root causes, such as a particular CMO, transportation lane, or supplier. With this data, you can track from a dispensary back into the manufacturing and even into the supplier.

Step 1: Setup your team now, even 1 person to be accountable for documenting the size of the issues

Step 2: Have that person gather the information you have from your team on Recalls, Counterfeiting, Diversion, and Shortages. Get into the details on which regions, manufacturers, and rank over by missed revenue or costs. Filter on your 1-2 top issues

Step 3: Set up your process and capture value - have a monthly review of the most significant opportunities and actions needed to address. Track actions and follow-up.

Step 4: Ongoing - look at techniques like Process Mining to get new insights into your data to find additional revenue and cost-saving opportunities. Your team is doing great work with emails, spreadsheets, etc., but it is very manual. Can you help to automate that or create a single version of the truth across your global network?

Other areas to explore

• You could use one of the Control Tower vendors or Knosc
• Create your own tools using platforms like Stedi to unlock your EDI data
• LLMs, If you combine OpenAI GPT3 API with embeddings,

Get started now. In 311 days or less, you will have a rich dataset to improve your business.

#DSCSA #supplychain