Need for Modeling Risk Management of Pharmaceutical Industry Product Recalls

摘要

Recently, product recalls have become a major issue in the pharmaceutical industry. Risks involving adverse medical complications, legal complaints filed by the consumer, loss of market share, uncertainty and sudden inflow of products have become a big challenge for the pharmaceutical industry and its supply chain. This paper examines existing risk models of the supply chain using systematic literature review. These analytical models will be listed along with their basic functional capability and very briefly similarities and differences. The need for development of a new hybrid model to assess and mitigate the risks of the pharmaceutical supply chain during product recalls will be discussed.