Free Serum Institute of India: Delivering COVID-19 Vaccines Case Study Solution | Assignment Help

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Written by Gary F. Smith
Publish Date: 2024-12-03

Harvard Case - Serum Institute of India: Delivering COVID-19 Vaccines

"Serum Institute of India: Delivering COVID-19 Vaccines" Harvard business case study is written by Sourabh Bhattacharya, Kalyan C. Chejarla, Romina Mathew, Ayush Gupta, Vishrut Anand. It deals with the challenges in the field of International Business. The case study is 15 page(s) long and it was first published on : Apr 21, 2022

At Fern Fort University, we recommend that Serum Institute of India (SII) adopt a multi-pronged strategy to solidify its position as a global vaccine leader. This strategy focuses on leveraging its existing strengths in manufacturing processes, global supply chain management, and strategic alliances while strategically expanding its reach through internationalization, innovation, and corporate social responsibility.

2. Background

The case study focuses on Serum Institute of India (SII), the world's largest vaccine manufacturer by volume. Founded in 1966, SII has played a pivotal role in delivering affordable vaccines to developing countries. The COVID-19 pandemic presented a unique challenge and opportunity for SII. While facing unprecedented demand for its Covishield vaccine, the company also faced logistical hurdles, regulatory complexities, and the need to navigate a rapidly evolving global landscape.

The main protagonists are Adar Poonawalla, CEO of SII, and his team, who are tasked with navigating the complexities of leading a global vaccine manufacturer during a pandemic. They must balance meeting the urgent needs of the world with ensuring the long-term sustainability and growth of the company.

3. Analysis of the Case Study

Strategic Analysis:

We can analyze SII's situation using Porter's Five Forces framework:

  • Threat of New Entrants: High, as the vaccine industry is attractive due to high demand and potential profits. However, the high barriers to entry, including regulatory hurdles and the need for extensive R&D, mitigate this threat somewhat.
  • Bargaining Power of Buyers: High, as governments and international organizations are major buyers of vaccines and have significant leverage in negotiating prices.
  • Bargaining Power of Suppliers: Moderate, as SII relies on a network of suppliers for raw materials and technology. However, SII's large scale and strategic partnerships provide some leverage.
  • Threat of Substitutes: Moderate, as alternative vaccine technologies and treatments are emerging. However, the need for proven and effective vaccines remains high.
  • Competitive Rivalry: High, as SII faces competition from other global vaccine manufacturers like Pfizer, Moderna, and AstraZeneca.

Financial Analysis:

SII has a strong financial position due to its large scale and established market share. However, the pandemic has significantly increased its operating expenses, particularly in areas like manufacturing capacity and logistics. SII must carefully manage its finances to ensure long-term profitability and sustainability.

Marketing Analysis:

SII's marketing strategy has traditionally focused on building relationships with governments and international organizations. However, the pandemic has highlighted the need for a more proactive approach to public communication and brand building. SII needs to effectively communicate the value of its vaccines to the public and address concerns about safety and efficacy.

Operational Analysis:

SII's manufacturing processes are highly efficient and cost-effective. However, the pandemic has exposed vulnerabilities in its supply chain, particularly in terms of raw material sourcing and logistics. SII needs to invest in strengthening its supply chain resilience and expanding its manufacturing capacity to meet future demand.

4. Recommendations

SII should implement the following recommendations to achieve sustainable growth and solidify its position as a global vaccine leader:

1. Internationalization and Market Expansion:

  • Global Market Entry Strategies: SII should aggressively pursue market expansion in emerging markets, particularly in Africa, Latin America, and Southeast Asia. This can be achieved through strategic partnerships, joint ventures, and direct investment.
  • Cross-cultural Management: SII needs to develop a strong understanding of cultural nuances and regulatory environments in different markets. This includes investing in cross-cultural training for its employees and establishing local partnerships to navigate cultural sensitivities and regulatory complexities.
  • International Trade Policies: SII should actively engage with international trade organizations and governments to advocate for policies that promote fair trade and access to vaccines in developing countries. This includes supporting initiatives that address intellectual property rights and vaccine pricing.

2. Innovation and Product Development:

  • Global Innovation Management: SII should invest in research and development to create new vaccines for emerging diseases and improve existing vaccines. This includes building strategic partnerships with universities, research institutions, and other pharmaceutical companies.
  • Emerging Markets: SII should focus on developing vaccines that are specifically tailored to the needs of emerging markets, such as vaccines for neglected tropical diseases and vaccines that are heat-stable and easy to administer.

3. Supply Chain Management and Operations:

  • Global Supply Chain Management: SII should strengthen its global supply chain by diversifying its sources of raw materials, establishing strategic partnerships with key suppliers, and investing in advanced logistics and transportation systems.
  • Operations Strategy: SII should optimize its manufacturing processes to increase efficiency and reduce costs. This includes investing in automation, lean manufacturing techniques, and advanced data analytics.

4. Branding and Marketing:

  • Global Branding Strategies: SII should develop a strong global brand identity that resonates with consumers and stakeholders. This includes creating a clear and consistent brand message, building a strong online presence, and engaging with influencers and thought leaders.
  • International Marketing: SII should tailor its marketing campaigns to specific regional markets, taking into account cultural differences and consumer preferences. This includes using local language, imagery, and messaging.

5. Corporate Social Responsibility:

  • Business and Government Relations: SII should actively engage with governments and international organizations to advocate for policies that promote equitable access to vaccines and support public health initiatives.
  • Environmental Sustainability: SII should implement sustainable practices throughout its operations, including reducing its carbon footprint, minimizing waste, and promoting ethical sourcing.

5. Basis of Recommendations

These recommendations are based on the following considerations:

  1. Core Competencies and Consistency with Mission: SII's core competencies lie in its manufacturing capabilities, supply chain management, and strategic alliances. These recommendations leverage these strengths while expanding into new markets and areas of expertise.
  2. External Customers and Internal Clients: SII's external customers include governments, international organizations, and individuals. The recommendations aim to meet the needs of these customers by ensuring access to affordable and effective vaccines. Internally, the recommendations prioritize employee training and development to ensure SII has the skilled workforce necessary for its growth.
  3. Competitors: The recommendations address the competitive landscape by focusing on innovation, market expansion, and brand building. This will help SII stay ahead of its competitors and maintain its leadership position.
  4. Attractiveness ' Quantitative Measures: The recommendations are expected to lead to increased market share, revenue growth, and profitability. While quantifying the exact impact is challenging, the recommendations will drive SII towards a more secure and sustainable future.

6. Conclusion

SII is well-positioned to leverage the opportunities presented by the global vaccine market. By embracing a proactive approach to internationalization, innovation, and corporate social responsibility, SII can solidify its position as a global leader in vaccine development and delivery.

7. Discussion

Alternatives not selected:

  • Mergers and Acquisitions: While M&A could be a potential strategy for expanding into new markets or acquiring new technologies, it carries significant risks and requires careful evaluation.
  • Focus solely on domestic market: This would limit SII's potential for growth and expose it to increased vulnerability in a globalized market.

Risks and Key Assumptions:

  • Regulatory hurdles: Navigating different regulatory environments can be challenging and time-consuming.
  • Competition: The vaccine market is highly competitive, and new entrants and emerging technologies pose a constant threat.
  • Economic and geopolitical instability: Global economic and political events can impact demand for vaccines and disrupt supply chains.

8. Next Steps

  • Develop a detailed implementation plan: This plan should outline specific actions, timelines, and resource allocation for each recommendation.
  • Establish key performance indicators (KPIs): This will allow SII to track progress and measure the success of its initiatives.
  • Build a strong team: SII needs to recruit and retain talented individuals with expertise in international business, innovation, and supply chain management.
  • Engage with stakeholders: SII should communicate its strategy and progress to governments, international organizations, and the public.

By taking these steps, SII can successfully navigate the challenges and opportunities of the global vaccine market and continue to deliver life-saving vaccines to people around the world.

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Case Description

The Serum Institute of India (SII), the world's largest vaccine manufacturer by volume, faced a unique challenge in the manufacture and distribution of COVID-19 vaccines to its major stakeholders. SII had COVID-19 vaccine manufacture and supply commitments to COVAX, a joint initiative ensuring equitable access to COVID-19 vaccines for all countries and a transfer technology (licensing) agreement with AstraZeneca PLC to supply its COVID-19 vaccine. However, a sudden surge of COVID-19 cases in India during the second wave of the pandemic sharply increased demand for COVID-19 vaccines in the country, forcing the government of India to temporarily ban the export of vaccines from India. At the same time, a ban imposed by the United States on the export of critical raw materials and components used for vaccine manufacturing threatened to bring the vaccine production process at SII to a halt. SII's chief executive officer had to now juggle meeting domestic demand within India and fulfilling SII's international supply commitments. Failing to deliver on the commitments would not only spell legal trouble but also pose long-term reputational and business risks for his company. He had few options to navigate the situation.

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