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"There is an urgent need to examine strategies, technologies, and regulations to help mitigate...
this issue."
That's the conclusion of a new report published by MIT Technology Review, which calls attention to drug shortages that have plagued the pharmaceutical industry in recent years.
"Simply understanding the causes and consequences is not the goal," the report states.
"The pharmaceutical industry should strive for innovation that revolutionizes drug manufacturing and ensures a stable supply of essential medications for patients worldwide."
Some of the possible solutions being bandied about, per MIT Technology Review: "digital twins": A "virtual representation of a real-world entity or process" that provides real-time insights into manufacturing processes by continuously collecting and analyzing data from sensors and other sources.
AI in supply chain management: "AI is able to analyze historical sales patterns, real-time data, market trends, and external events to forecast demands more precisely and adapt to dynamic changes in the market."
VR and AR in manufacturing: "While not a direct solution, virtual and augmented reality (VR/AR) addresses drug shortages by contributing to improved efficiency, enhanced training, and streamlined processes."
Click for the full report.
Selected Grant News Headlines
A customized collection of grant news from foundations and the federal government from around the Web.
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Social Entrepreneurship
Spotlight
Together TV, the Channel that Helps You Channel Your Inner Good
Caroline Diehl is a serial social entrepreneur in the impact media space. She is Executive Chair and Founder of the UK’s only charitable and co-operatively owned national broadcast television channel Together TV, the leading broadcaster for social change runs a national TV channel in the UK and digital platform which helps people find inspiration to do good in their lives and communities.
