Supply Chain Management (SCM) refers to arranging goods produced by various organizations, from raw ingredients to the final products. Manufacturing and transportation are the most visible areas of a healthcare supply chain.
Integration of new disruptive technologies like AI, Blockchain, data analytics and IoT into the supply chain management systems offered dramatic growth for SCM globally in the healthcare sector. According to markets and markets, the global healthcare SCM market is anticipated to reach $3.3 billion by 2025 from $2.2 billion in 2020. The critical factors for driving this growth include the emergence of cloud-based solutions, reduced operational costs, improvement in efficiency, and overall profitability. SCM’s growing popularity in every sector, especially in the healthcare industry, proves highly beneficial for human lives.
jessica W. bergstrom 