How to manage risks in Malaysia's PSC with digital technologies

While the paper is Malaysia-specific, it is an interesting approach that brings more science into risk identification. The study examines how to better manage and mitigate risks in the pharmaceutical supply chain (PSC) in Malaysia, especially those causing medicine shortages, by identifying major risk factors and proposing digital technologies to address them. https://lnkd.in/eZ4AY6bK The authors use Fuzzy Failure Mode and Effect Analysis (Fuzzy FMEA) combined with Data Envelopment Analysis (DEA) (including a cross-efficiency DEA method) to assess and prioritize risks. Fuzzy logic is used to deal with expert judgments, uncertainty, and ambiguity; DEA helps incorporate weights and relationships among risks beyond simple multiplicative risk priority numbers (RPN). They interview experts in the Malaysian PSC (manufacturers, distributors, pharmacies) to get data on Occurrence (O), Severity (S), and Detection (D) for identified failure modes/risk events. They also perform hierarchical cluster analysis (HCA) to link which digital technologies are relevant to which risk events. If you go through the details of how these approaches were leveraged, it gives you ideas to apply this framework beyond risk identification and management. #technology #analytics #data #healthcare #pharma

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