Interim Executive Solutions – Part-Time Executives Solve Full-Time Problems
Securing the expertise, ideas, and skill set of an executive on an interim basis enables a corporation not only to garner a fresh, unbiased look at inherent concerns with its underpinnings, but also to acquire top-notch strategic advice for new challenges the corporation may be experiencing. Whether the need for temporary expertise is a result of a sudden opening of a leadership role, the acquisition of a new company, the launch of a major new product, or a longstanding vacancy at a company’s helm, an interim executive is able to provide a level of expertise that no current leader at the company can deliver. Simply by joining the corporation as an objective and temporary problem-solver with a pure perspective and a proven track record, an interim executive is able to identify anomalies in best business practices, make doable recommendations, and/or lead the implementation of solutions.
While corporations in all industries can certainly benefit from the focused attention and immediate input of a new highly-skilled interim executive on board, today’s 21st century pharmaceutical industries, in particular, face unique challenges that interim executives can readily address and solve. Here’s a look at potential challenges pharmaceutical companies can experience and how an interim executive can help:
Meeting Food and Drug Administration Compliance
When a company undergoes a Quality System Regulation audit by the FDA, it can be issued with several minor or major observations that need to be addressed. It is helpful to secure the services of an executive on a short-term basis who has extensive quality compliance experience, can immediately respond appropriately to the FDA, provide strategic direction, and develop a formal plan to implement corrective actions.
Integrating a Newly-Acquired Product or Business
It is not unusual for a pharmaceutical company that acquires a new product or business to not have the in-house know-how to launch the integration process without a hitch. An interim executive with years of concentrated expertise specifically in starting and facilitating acquisition integration can provide the precise leadership that is necessary to complete the integration on time and without interrupting workflow.
Consolidating a Manufacturing Operation
Sometimes a pharmaceutical company might need to consolidate its manufacturing operations to reduce wastes, increase efficiency, and streamline processes. An executive with years of successful experience not only in identifying a manufacturing plant’s capabilities and developing and implementing a formal Plant Optimization Plan, but also in the pharmaceutical industry specifically can provide immediate guidance, wisdom, and direction unsurpassed by an in-house manager.
Fixing the Broken Link in a Supply Chain
One of the many concerns pharmaceutical companies have is ensuring they do not face a critical drug shortage; however, sometimes this does occur. An interim executive with an impressive and career-long background in supply chain management in the pharmaceutical industry can solve this challenge. By assessing the company’s supply chain process, the interim executive can make the right recommendations to both streamline the supply chain process and build the appropriate inventory for the particular class of drugs where a shortage occurred. Further, before completing the contracted assignment at a corporation, the interim executive can effectively guide and help transition the in-house staff member who will be responsible for supply chain function.
The individuals who choose a professional career as an interim executive bring to the position years of real-world, hands-on, solution-focused leadership. They are high-caliber experts in their particular fields who possess exceptional problem-solving, interpersonal, and time management skills. Interim executives are multi-dimensional visionaries who are able to provide an astute attention to detail and appreciate how the integral parts interact with the whole while keeping the big picture in mind.
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Originally published in Ashton Tweed Connection, March 2011 It’s tax time again. And if you’re looking for a new job...