Digitization Improves Lab Supply Chain Management

Time is a major obstacle for the invention of a new product or for the development of a novel product from basic concepts. The time taken for an idea to be proved, prototyped and developed into beneficial invention determines the success of the product as there are multiple competitors existing in the market. As a result, scientists have to manage their time efficiently while executing their projects. However, unfortunately a lot of time is wasted when the required lab supplies such as reagents, kits, consumables, equipment etc. are not available while conducting crucial research experiments. Scientists often struggle in contacting the right biosuppliers, establishing trust with a new brand of product or facing delays in the delivery of an urgent material.

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According to Invest India, a non-profit venture under the Department for Promotion of Industry and Internal Trade, Ministry of Commerce and Industry, India’s biotechnology sector holds around 3 percent share of the global biotechnology industry and has more than 600 companies along with more than 2,600 biotech startups. In addition, there are more than 200 research institutes in India working on innovations in the areas related to food, chemical, industrial, medical, marine, pharmaceutical, nanoscience, agriculture, biomedical, etc.

The potential of biotechnology is endless but the journey of innovation is challenging. The scientists and researchers involved in this field face a number of arduous tasks while carrying out their experiments every day. Time is a major obstacle for the invention of a new product or for the development of a novel product from basic concepts. The time taken for an idea to be proved, prototyped and developed into beneficial invention determines the success of the product as there are multiple competitors existing in the market. As a result, scientists have to manage their time efficiently while executing their projects. However, unfortunately, a lot of time is wasted when the required lab supplies such as reagents, kits, consumables, equipment, etc. are not available while conducting crucial research experiments. Scientists often struggle in contacting the right suppliers, establishing trust with a new brand of product or facing delays in the delivery of an urgent material.