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In the highly competitive market of today, the SC activities and product development must be coordinated and synchronized so that the requirements of market demand, product release, and capacity requirements are achieved in a financially sustainable manner. This chapter provides an integrated model that incorporates the simultaneous treatment of SC design-planning and the product development pipeline decisions in the pharmaceutical industry. Moreover, the aforementioned cross-functional model embeds a capital budgeting formulation enabling the quantitative assessment of the firms’ value. The model also considers the endogenous uncertainty associated with product test outcomes during the development process. To tackle this problem, a scenario-based multi-stage stochastic MILP formulation is proposed. This model includes risk constraints, which allow finding optimal solutions within accepted risk levels. A decomposition technique is also applied in order to reduce the computational effort required for the solution of the monolithic model, thus facilitating the solution of realistic industrial problems of moderate scale. |
