{"id":18265,"date":"2023-10-20T23:24:42","date_gmt":"2023-10-20T23:24:42","guid":{"rendered":"https:\/\/mysourcefunding.com\/startups\/pursuing-industry-4-0-look-to-the-life-science-industry\/"},"modified":"2023-10-20T23:24:43","modified_gmt":"2023-10-20T23:24:43","slug":"pursuing-industry-4-0-look-to-the-life-science-industry","status":"publish","type":"post","link":"https:\/\/mysourcefunding.com\/?p=18265","title":{"rendered":"Pursuing Industry 4.0? Look To The Life Science Industry"},"content":{"rendered":"
\n

Ryan Schroeder is the president and chief executive officer of <\/em>CRB<\/em>, an engineering, architecture, construction and consulting company.<\/em><\/p>\n

Metastatic melanoma. Sickle cell disease. ALS. As I write this, promising new cell and gene therapies targeting each of these diseases are on the verge of FDA approval. In fact, 2023 and 2024 may be record-setting years for FDA decisions on advanced therapies.<\/p>\n

For these novel therapies to reach the patients who need them, life science innovators have to improve their manufacturing efficiency. To do that, they\u2019re evolving their warehouses, cleanrooms and QC labs into holistic, technology-driven ecosystems in which physical, digital and virtual inputs converge to enable scalability and drive growth. There\u2019s a name for this evolution: Industry 4.0.<\/p>\n

As President and CEO of CRB, I\u2019m watching this transformation firsthand as our architecture, engineering and design experts help drug and biotech manufacturers integrate 4.0 concepts and embrace true digital maturity. But this move isn’t limited to life sciences; companies across all <\/em>markets are investing in Industry 4.0. How can they ensure a return on that investment?<\/p>\n

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From what I\u2019ve observed in my conversations with senior leaders in the life science industry, it comes down to three core principles.<\/p>\n

1. Prioritize Industry 4.0 In The C-Suite<\/h2>\n

If you\u2019re serious about your Industry 4.0 future, don\u2019t simply delegate it to an internal department. You may see incremental progress with this approach, but driving real change will be next to impossible\u2014and without a high level of coordination, you could find yourself quickly outpaced by competitors.<\/p>\n

Instead, give your Industry 4.0 project the horsepower it needs by initiating it in the C-suite. There are a few ways to achieve this. When my team surveyed 500 life science innovators earlier this year, for example, we learned that nearly 40% assign responsibility for data and artificial intelligence initiatives to the CIO, while 25% place it with the CTO. Whatever your approach, the point is to identify a leader with the experience to:<\/p>\n

\u2022 Analyze and solve gaps in your digitalization strategy.<\/p>\n

\u2022 Identify areas where your investment will have the greatest impact on overall safety, efficiency, agility and operational control.<\/p>\n

\u2022 Drive cultural change and empower your workforce to embrace innovation and advocate for digitally driven solutions.<\/p>\n

You may notice something about these criteria: They\u2019re not specific to life sciences. People buy into a leader before they buy into a vision, as the saying goes\u2014and this applies across all companies implementing Industry 4.0 initiatives, regardless of industry.<\/p>\n

Over here in the field of architecture, engineering and construction, where my company operates, the gap is widening between those who dabble and those who are giving these initiatives primacy in the executive boardroom. It\u2019s not easy. Candidly, our team is currently working on the right answer for our own C-suite. We need to get this right, given all that\u2019s riding on the successful implementation of our long-term plan. That takes time.<\/p>\n

For life science innovators, investing this time upfront can be challenging\u2014especially when high-profile pharma companies are making headlines for their commitment to digital transformation, generating pressure that\u2019s felt across the competitive landscape. But whatever your industry, it doesn\u2019t help to move fast if you aren\u2019t following a plan, and the most effective plan starts at the top.<\/p>\n

2. Build Room For Emerging Technologies Into Your Scalability Strategy<\/h2>\n

“We\u2019ve developed the skill of moving fast, even without all the answers.” That\u2019s what I heard from a client of ours, a pioneer in cell therapy development when I asked about their Industry 4.0 strategy. I couldn’t have said it better.<\/p>\n

Like leaders in any industry, our clients face uncertainty on the road to digital maturity. How do you design a “forever facility” that can accommodate technologies that don\u2019t yet exist? What if you don\u2019t have the capital for full AI integration today, but that\u2019s where you\u2019re heading? The key to pressing forward in the face of these questions is to adopt an “Industry 4.0 mindset.”<\/p>\n

To see that mindset in action, picture two R&D life science labs planning their leap to commercial operations. Both rely on manual processing.<\/p>\n

One is focused on reaching the market as quickly as possible, which gets them to regulatory approval first\u2014a big win. However, their processes leave them without the ability to scale production or expedite technology transfer to a manufacturing partner.<\/p>\n

The other lab lays the groundwork for future scalability. They keep digital production records, and they\u2019re careful to select flasks and other consumables that are right-sized for robotic handling. They even designed their future facility to accommodate automated guided vehicles in their corridors and AI-driven inventory management in their warehouse.<\/p>\n

Which company will achieve sustainable success in the marketplace?<\/p>\n

Planning for future integrations and laying the groundwork for a flexible, strategically sound pathway to digital maturity will almost always pay off in the long term.<\/p>\n

3. Keep Humans At The Center Of Your Vision<\/h2>\n

All this talk of digitalization conjures images of the “lights out” factory, in which machines handle the full manufacturing life cycle, and humans are redundant. However, what I\u2019m actually seeing in the marketplace stands quite apart from that dystopian vision.<\/p>\n

Rather than replacing people, companies are leveraging Industry 4.0 to empower their workforce with better insights, smarter instruments and more time for high-value tasks. The result is an unstoppable convergence of data (generated in real time by machines) and intuition (generated over millennia by the human mind).<\/p>\n

I don\u2019t see this as a threat\u2014instead, I see it as the key to addressing some of humanity\u2019s most pressing problems.<\/p>\n

From Novelty To Table Stakes<\/h2>\n

As Industry 4.0 establishes itself as a driver of future success across industries, that sense of optimism appears to be catching on.<\/p>\n

When I ask our life science clients about their vision, they describe harnessing machine learning and AI to enable faster discovery, shorter manufacturing turnaround times and better outcomes for patients facing rare and previously “un-druggable” diseases.<\/p>\n

Whether you\u2019re in this industry or you\u2019re applying Industry 4.0 in another vertical, the takeaway is clear: The moment has come to embrace Industry 4.0 and secure your position among tomorrow\u2019s history makers.<\/p>\n

Forbes Business Council is the foremost growth and networking organization for business owners and leaders. Do I qualify?<\/em><\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Ryan Schroeder is the president and chief executive officer of CRB, an engineering, architecture, construction and consulting company. Metastatic melanoma. Sickle cell disease. ALS. As I write this, promising new cell and gene therapies targeting each of these diseases are on the verge of FDA approval. In fact, 2023 and 2024 may be record-setting years […]<\/p>\n","protected":false},"author":1,"featured_media":18266,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[77],"tags":[],"class_list":{"0":"post-18265","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-startups"},"yoast_head":"\nPursuing Industry 4.0? 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