China emerged as the dominant player in the pharmaceutical intermediates and chemicals market in the early years of the 21st century. A combination of low manufacturing costs, government support, and other factors led to almost the entire pharmaceutical industry becoming dependent on China for raw materials. The downside of dependency became clear in 2018 when the Chinese government imposed stricter rules on the sector, forcing companies to quickly adapt to the changing situation. The experience showed the value of proactive supply chain management. Companies that quickly recognized and mitigated the threat emerged from the potential crisis with stronger, more resilient operations capable of coping with the multitude of forces that can disrupt globalized supply chains. Read our whitepaper to understand the importance of building & managing sustainable supply chains.
