Ahmed Ramy – Senior Knowledge Management Researcher, DIT

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    • Ahmed Ramy – Senior Knowledge Management Researcher, DIT's presentations

    Ahmed Ramy  B.Sc., M.Sc. Senior Knowledge Management Researcher @DIT. He is a qualified pharmacist with over 10 years of experience in pharmaceutical quality assurance and validation; held Senior Quality Assurance roles in leading pharmaceutical corporates; currently interested in exploring repercussions of knowledge loss on the performance of pharmaceutical companies and its implications on innovation.

     

     

    Title: Knowledge Loss in Pharmaceutical Industry: Challenges & Opportunities

    Synopsis: Fortune 500 companies lose close to 31.5 billion US dollars per year due to failure to effectively manage their knowledge stocks. Pharmaceutical industry is no exception, often confronted by considerable risks of losing precious knowledge created within its facilities everyday. Knowledge loss can take place when experienced staff exits their organisations with a wealth of expertise that constitutes sources of competitive advantage and/or opportunities for innovation and growth. Although Pharma industry has established measures to protect drug intellectual property, they still need to address a diverse array of operational, processual, social and regulatory knowledge.

    Uncertainty situations such as Merger and Acquisition (M&A) can pose an extra risk to organisational knowledge through experts’ departure. At Pfizer Inc., during its merger with Pharmacia Inc., for example, Pfizer gave top priority to retaining leadership knowledge and managing relationships, thus easing the integration of the two companies. Such proactive measures to fill knowledge gaps will increasingly be needed as organizations deal with ever-rising levels of employee turnover.

    To safeguard Intellectual Capital (IC), pharmaceutical companies must be innovative in leveraging knowledge stocks and nurturing knowledge flows. Such endeavour ultimately begins with identifying key knowledge holders within organisations thus supporting the formulation of human capital development and effective retention strategies. ‘MinK’ Framework provides a platform to assess individual knowledge using advanced metrics. This solution can be adopted in Pharma industry to support human capital management.