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LIFESCIENCELEADER.COM THE CMO LEADERSHIP AWARDS 2015 41 suppliers will you be able to locate them and take appropriate action. Some panelists and audience members also questioned the level to which risk could be reduced by improving the over- all audit function. Asking more in-depth questions would certainly enable audi- tors to better uncover hidden risks. "I have seen auditors come in and simply go through a checklist," noted one panelist. "But if they had more skills and expe- rience, they would know to ask certain questions that didn't just come off a standard audit checklist. People will ask questions, but they are not the right ques- tions, and they do not get to the right issues that are creating the risk." Of course, acting on audit results is also important. If audits cite the same issues year after year, but nothing is done about them, an opportunity to reduce or eliminate certain risks is being missed. FORGET ABOUT THE ONE-STOP-SHOP No discussion of supply chain issues would be complete without mentioning risk reduction via one-stop-shops. It was on that topic that the panel concluded its discussion. Bringing together an API manufacturer with a drug product manu- facturer might be a way to shorten and better secure the supply chain, but the consensus seems to be that the model rarely works as planned. "I don't think that model is ever going to work," noted one panelist. "My experience is that if you bring together an API and a drug product manufacturer, you will end up with a company that is not as good at either one. In 10 years, I have still not seen it succeed." The thinking is that by bringing together the two manufacturers, there are more resources, there are synergies that can be derived, and the new company will be big- ger and more efficient than the two pieces. But the panelist makes a good point: Will you really end up with a company that is an expert on both sides of the business? It will be interesting to see, in the next few years, if a lot of the consolidation going on in the industry will result in successful integrations and how valuable they will be to sponsor companies. One factor that may come into question is the scope of these mergers. API and drug manufacturing may work well together. API, drug product, packaging, clinical trials, and toxicology may be a bit much. "I may be a bit of an optimist," noted another panelist. "I love the idea of a one-stop- shop. It's possible that these companies getting bigger and better resourced will make them more valuable suppliers to the industry. It could be a real win for the industry, and I am encouraged by it." L STRATEGIC UPGRADE UPGRADE YOUR EFFICIENCY Federal Equipment has been a trusted source of pharmaceutical processing equipment for more than 50 years. Our pharmaceutical team has extensive market knowledge, so we consistently exceed clients' needs with our extensive inventory, stored in climate- controlled, pharma-dedicated warehouses, as well as fast, accurately-appraised liquidations. When you think equipment, think Federal Equipment Congratulations to all of the CMO Leadership Award winners! WWW.FEDEQUIP.COM +1 877 536 1538