Today, the life sciences industry is under tremendous pressure as they confront challenges such as stiff competition, price controls and quality expectations. Drug makers, biotech companies, biologics developers, medical device manufacturers, CROs and other FDA-regulated industries are compelled to increase the utilization and uptime of their assets constantly in order to drive the highest return on investment and at the same time, manage risks associated with compliance.

The existing challenges seem to be doubling-up in these stressed times of Covid19 proving itself to be a black swan event for the Indian Pharma industry. The need to ramp up production puts Plant Heads, Engineering & Quality Managers under severe pressure not only to Reduce costs & resources, but also to meet an increase in Demand for drugs from US & EU regions.

The key therefore is that organizations cannot afford unplanned downtime of critical assets, and it is crucial for the engineering teams to focus on their engineering and asset management strategy which not only allows them to operate within budgets but also reduces risk of asset failure.

The goal is to minimize asset downtime and to respond to changing conditions in their operations before a problem arises. Join The Economic Times Live Webinar, Co-powered by Sedin Technologies Private Limited, an IBM Business Partner, to learn how an Enterprise-wide Asset management approach plays an important role.