Supply Chain Risk Management of the Pharmaceutical Industry in Sri Lanka: Exploring Mitigation and Resilience Strategies

Abstract

The frequently recurring man-made and natural disasters have made supply chains prone to significant levels of risks compared to the past (Stephan & Nikrouz, 2010). Unlike other industries, disruptions in the supply chain of the Pharmaceutical industry can create severe harm to human life by hindering access to medicine (Kapoor et al., 2018). The importance of this industry in Sri Lanka is critical as 85 percent of the total medicine requirement is met through imports (Jayasinghe, 2018). Recent succession of natural disasters, regulatory and operational complexities and pressure to contain high R&D costs have signified the importance of risk management in the industry (Jaberidoost et al., 2013; Enyinda, 2009).