Supply chain issues are a common problem for large industries. Even though suppliers are always trying to improve their processes to maximize efficiency, inefficient solutions can lead to an industry falling behind. Companies often choose to switch suppliers when faced with such situations.
You need to improve the efficiency of your supply chain operations in order to avoid losing clients, be more competitive and find new clients. Here are some ways to do this.
Use Track & Trace software
The digital age is here and every company can afford software solutions to improve their efficiency. Track and trace software lets you see where your products or shipments are located in real-time.
This allows you to see the status of all your supply chains. This greatly improves efficiency. Track and trace software can help you predict potential problems and provide actionable information to get you back on the right track in no time.
It helps to improve accountability and prevent counterfeits from entering markets. It allows customers to know when their products arrive.
Higher product quality and output are possible through quality control processes. Because inferior products will not gain market acceptance, they will result in more sales and less waste. Quality control is also important for the pharmaceutical industry. It reduces the chance of product design and functionality errors.
Quality product recalls are also less frequent and more manageable. It can be difficult to recall and send out new products. This can almost guarantee delays in your operations. However, effective supply chain management can make it easier.
Improve Distribution Management
Pharma companies are increasingly collaborating with other partners to store and transport their product. If they want to ensure efficient supply chains, all parties must communicate and coordinate properly. Track and trace software is a great tool to help with this.
All partners can use one platform to track products and transport routes. This allows them to anticipate and plan for important events. A proactive distribution management system can help to allocate products to the correct channels and deliver all orders on time.
Shipping Pharma Products: Understanding the Regulations
It doesn’t matter what type of logistics or supply chain you use, there is one rule that will remain constant: You must know the product and its requirements. Compliance is crucial when it comes to pharmaceuticals. There are often many regulations.
All pharmaceuticals in the United States are regulated by U.S. Food and Drug Administration. The Drug Enforcement Administration (DEA), regulates controlled substances such as opiates and benzodiazepines. Some living organisms and chemicals also need to comply with Department of Transportation regulations governing hazardous substances.
A compliance lawyer can help you ensure that all products are shipped legally. Although the FDA, DEA and DOT can offer guidance on shipping your products legally, it is always a good idea for you to retain your own counsel.
Complex supply chains are underutilized, inefficient and poorly equipped to handle the variety of products that face the pharmaceutical industry. This puts the industry under great pressure. A radical overhaul of the pharma supply chain is required to meet the needs of an ever-changing market. The pharma industry is experiencing rising research and development (R&D), development timelines are increasing, and patients are becoming more informed about treatment options and drugs. The development cycle is key to fixing the market and increasing efficiency by rationalizing or outsourcing non-core activities. The pharma industry has moved away from a “one-size fits all” approach to supply chain flexibility, responsiveness and reliability.
These steps will help you to improve your supply chain. Remember to keep the right pharmaceutical warehouse in mind. This will simplify your process and allow you to track your products throughout your supply chain.