Current Edition

Rising Supply Chain Exposures

Pharmaceutical, biotech and medical equipment companies increasingly source raw materials, components, manufacturing processes and services externally. By using suppliers in markets such as Eastern Europe, India, the Far East and increasingly China, they are able to take advantage of lower costs and greater efficiencies. Andrew Catton at Miller Insurance explains why with supply chains becoming more complex, and a growing reliance on “lean” manufacturing processes, there are also increasing risks associated with globalisation.