Standardization Is Key To Building A Successful Global Business Strategy

Standardization in business requires us to take a step back from the belief that our technology and processes are unique and require specialized tools or environments. The revelation that significant efficiencies can be made in both time and cost when customization is reduced suggests that the industry is developing a more pragmatic approach that will ultimately benefit patients. Product managers in all industries, from food service to commodities, have learned that an N = 1 approach to development or production is not always good for consumers or for business.

The increasing scrutiny over the cost of biopharmaceuticals, combined with the need to bring life-saving therapies to emerging regions, requires businesses to balance social and financial needs, while driving patient access. Standardization is one tool that is essential to building a successful global business strategy.