Harvard Case - Zuellig Pharma: Gaining Critical Mass on Blockchain / Scaling up Blockchain
"Zuellig Pharma: Gaining Critical Mass on Blockchain / Scaling up Blockchain" Harvard business case study is written by Benjamin Yen, R. Chandrasekhar. It deals with the challenges in the field of General Management. The case study is 13 page(s) long and it was first published on : Jun 4, 2023
At Fern Fort University, we recommend Zuellig Pharma adopt a phased approach to scaling its blockchain platform, prioritizing strategic partnerships and focusing on key value propositions to drive adoption within its ecosystem. This strategy will leverage Zuellig's existing strengths in supply chain management, international business, and emerging markets to establish a robust blockchain infrastructure that enhances efficiency, transparency, and trust across the pharmaceutical supply chain.
2. Background
Zuellig Pharma, a leading pharmaceutical distributor in Asia, faces the challenge of managing a complex and fragmented supply chain. The company aims to leverage blockchain technology to improve traceability, security, and efficiency within its network. The case study focuses on Zuellig's efforts to develop and implement a blockchain platform, highlighting the challenges of gaining critical mass and scaling the technology across its operations.
The main protagonists of the case study are:
- John Chia, CEO of Zuellig Pharma, who champions the adoption of blockchain technology to enhance the company's competitive advantage.
- The Zuellig Pharma team, responsible for developing and implementing the blockchain platform, facing challenges related to stakeholder engagement, technology adoption, and resource allocation.
- Pharmaceutical manufacturers and distributors, potential beneficiaries of the blockchain platform who require convincing of its value and benefits.
3. Analysis of the Case Study
This case study presents a complex scenario where Zuellig Pharma seeks to leverage blockchain technology to achieve strategic goals. Using the Porter's Five Forces Framework, we can analyze the competitive landscape and identify key factors influencing Zuellig's decision:
- Threat of New Entrants: High. The pharmaceutical industry is characterized by high barriers to entry, but the emergence of new players with innovative technologies like blockchain poses a significant threat.
- Bargaining Power of Buyers: Moderate. Pharmaceutical manufacturers and distributors have some bargaining power due to their dependence on Zuellig's distribution network, but the potential for alternative solutions like blockchain-based platforms could shift the balance.
- Bargaining Power of Suppliers: Moderate. Suppliers, such as pharmaceutical manufacturers, have some leverage due to their specialized products and services, but Zuellig's extensive network and potential for blockchain-based transparency could mitigate this power.
- Threat of Substitute Products: High. The emergence of alternative distribution channels and technologies, including blockchain-based solutions, poses a significant threat to Zuellig's traditional business model.
- Rivalry Among Existing Competitors: High. The pharmaceutical distribution industry is highly competitive, with established players like Zuellig facing pressure from both traditional and emerging competitors.
Strategic Analysis:
- Core Competency: Zuellig's core competency lies in its extensive distribution network and established relationships within the pharmaceutical industry.
- Competitive Advantage: Blockchain technology offers Zuellig the potential to gain a significant competitive advantage by enhancing transparency, security, and efficiency within its supply chain.
- Growth Strategy: Zuellig's growth strategy involves leveraging blockchain technology to expand its market share and penetrate new markets, particularly in emerging economies.
- Innovation: Zuellig's commitment to innovation is evident in its adoption of blockchain technology, which aligns with its vision to become a leader in the pharmaceutical industry.
Financial Analysis:
- Return on Investment (ROI): The potential ROI of blockchain implementation is significant, with benefits including reduced costs, improved efficiency, and enhanced security.
- Cost-Benefit Analysis: Zuellig needs to conduct a thorough cost-benefit analysis to evaluate the financial feasibility of blockchain implementation and identify potential cost savings and revenue generation opportunities.
- Funding Strategy: Zuellig should explore various funding options, including partnerships, venture capital, and internal investments, to finance the development and implementation of its blockchain platform.
Marketing Analysis:
- Value Proposition: Zuellig needs to clearly define the value proposition of its blockchain platform for its stakeholders, including pharmaceutical manufacturers, distributors, and consumers.
- Brand Management: Zuellig should leverage its brand reputation and industry expertise to market its blockchain platform and build trust among its stakeholders.
- Marketing Strategy: Zuellig should develop a comprehensive marketing strategy to promote the benefits of its blockchain platform, targeting key stakeholders and highlighting its value proposition.
Operational Analysis:
- Supply Chain Management: Blockchain technology can significantly enhance Zuellig's supply chain management by improving traceability, security, and efficiency.
- Operations Strategy: Zuellig needs to develop an operational strategy that integrates blockchain technology into its existing systems and processes, ensuring seamless adoption and optimization.
- Technology and Analytics: Zuellig should invest in the necessary technology and analytics capabilities to support the development, implementation, and ongoing operation of its blockchain platform.
4. Recommendations
To effectively scale its blockchain platform, Zuellig Pharma should implement the following recommendations:
Phase 1: Focus on Key Value Propositions and Pilot Projects:
- Identify key value propositions: Zuellig should prioritize the most impactful use cases for its blockchain platform, focusing on areas with high potential for cost savings, efficiency improvements, and enhanced security.
- Develop pilot projects: Zuellig should launch pilot projects with select partners to demonstrate the value and benefits of its blockchain platform, gathering feedback and refining its implementation strategy.
- Build a strong ecosystem: Zuellig should engage key stakeholders, including pharmaceutical manufacturers, distributors, and regulators, to build a robust ecosystem that supports the adoption of its blockchain platform.
Phase 2: Strategic Partnerships and Gradual Expansion:
- Form strategic partnerships: Zuellig should collaborate with technology providers, industry experts, and other stakeholders to leverage their expertise and resources to accelerate the development and adoption of its blockchain platform.
- Expand to key markets: Zuellig should prioritize expanding its blockchain platform to key markets where it has a strong presence and where the benefits of blockchain technology are most pronounced.
- Develop a comprehensive roadmap: Zuellig should develop a detailed roadmap outlining the key milestones, timelines, and resources required to scale its blockchain platform across its operations.
Phase 3: Continuous Improvement and Innovation:
- Monitor and evaluate performance: Zuellig should continuously monitor and evaluate the performance of its blockchain platform, identifying areas for improvement and optimizing its operations.
- Invest in research and development: Zuellig should invest in research and development to explore new applications and functionalities for its blockchain platform, staying ahead of the curve in technological advancements.
- Embrace a culture of innovation: Zuellig should foster a culture of innovation that encourages experimentation, collaboration, and continuous improvement, ensuring its blockchain platform remains relevant and competitive.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core competencies and consistency with mission: The recommendations align with Zuellig's core competency in supply chain management and its mission to improve the health and well-being of people in Asia.
- External customers and internal clients: The recommendations address the needs of both external customers, such as pharmaceutical manufacturers and distributors, and internal clients, such as Zuellig's employees.
- Competitors: The recommendations consider the competitive landscape and aim to position Zuellig as a leader in the adoption of blockchain technology within the pharmaceutical industry.
- Attractiveness ' quantitative measures: The recommendations consider the potential for significant ROI, cost savings, and revenue generation opportunities through the implementation of blockchain technology.
- Assumptions: The recommendations are based on the assumption that blockchain technology will continue to evolve and mature, providing increasing value and benefits to the pharmaceutical industry.
6. Conclusion
By adopting a phased approach to scaling its blockchain platform, prioritizing strategic partnerships, and focusing on key value propositions, Zuellig Pharma can establish a robust blockchain infrastructure that enhances efficiency, transparency, and trust across the pharmaceutical supply chain. This strategy will leverage Zuellig's existing strengths in supply chain management, international business, and emerging markets to gain a significant competitive advantage and drive sustainable growth.
7. Discussion
Alternatives not selected:
- Full-scale immediate implementation: This approach could be risky and costly, potentially leading to challenges in adoption and integration.
- Limited pilot projects: This approach might not provide sufficient evidence of the platform's value and benefits to drive wider adoption.
Risks and key assumptions:
- Technological challenges: The ongoing development and evolution of blockchain technology could pose challenges to Zuellig's implementation strategy.
- Regulatory uncertainty: The regulatory landscape surrounding blockchain technology is still evolving, potentially creating hurdles for Zuellig's platform.
- Stakeholder resistance: Some stakeholders, such as pharmaceutical manufacturers, may be reluctant to adopt blockchain technology due to concerns about costs, security, or data privacy.
8. Next Steps
Zuellig Pharma should implement the following next steps to successfully scale its blockchain platform:
- Develop a detailed implementation plan: This plan should outline the key milestones, timelines, and resources required for each phase of the implementation process.
- Establish a dedicated blockchain team: This team should be responsible for managing the development, implementation, and ongoing operation of the blockchain platform.
- Conduct a thorough risk assessment: This assessment should identify potential risks associated with blockchain implementation and develop mitigation strategies.
- Engage key stakeholders: Zuellig should proactively engage with pharmaceutical manufacturers, distributors, regulators, and other stakeholders to build consensus and support for its blockchain platform.
- Monitor and evaluate performance: Zuellig should continuously monitor and evaluate the performance of its blockchain platform, identifying areas for improvement and optimizing its operations.
By taking these steps, Zuellig Pharma can successfully scale its blockchain platform, driving innovation and achieving its strategic goals within the pharmaceutical industry.
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Case Description
Having developed a blockchain product to track the end-to-end movement of goods being transported along the pharmaceutical supply chain, Zuellig Pharma also has tested it in real life situation involving distribution during the critical Covid-19 phase. The company's Vice President and Head of Digital and Data Solutions is now seeking ways to scale up product for multiple markets, multiple users, and multiple applications even while blockchain, as a bourgeoning technology, is itself facing scaling limitations.
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