pharmaceutical supply chain management Archives - SpendEdge

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Top Pharmaceutical Supply Chain Challenges in 2019

Improving supply chain management in pharmaceutical industry has been a challenging task for many companies. Pharmaceutical organizations, globally, are facing challenges meeting global quality standards, adhering to new healthcare reforms, and increased service requirements. To address such challenges, pharmaceutical firms must reduce costs, increase agility, and improve speed to market. They need to define key issues such as process development, capacity planning, and logistics management since they play an important role in pharmaceutical supply chain management. 

Increasing the efficiency of the supply chain in pharmaceutical industry requires correct analysis of the latest trends and changes in the market. Request a free demo to know how our experts can help you gain precise market insights regarding the healthcare market.

Key Pharmaceutical Supply Chain Challenges

Pharmaceutical supply chain challenges #1: Supply chain visibility

Visibility in supply chain is extremely important for companies to address pharmaceutical supply chain challenges. Drug shortages, counterfeits, and opioids is compelling companies in the pharmaceutical industry to track-and-trace goods for the consumers’ sake and improve visibility. At times, improving supply chain management in pharmaceutical industry may also increase profit margins and result in safer products for patients.

Pharmaceutical supply chain challenges #2: Drug counterfeiting

Though counterfeiting of goods is prevalent across many sectors, its impact is most profound in the healthcare sector. Counterfeiters target markets in countries where the capacity to detect defective products and the penalty for engaging in counterfeiting are low. This is one of the key pharmaceutical supply chain challenges that needs immediate attention. Improving supply chain management in pharmaceutical industry can help companies to respond quickly to the actions of counterfeiters while minimizing the effort of policing.

Wondering how drug counterfeiting can lead to financial losses for companies?

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Pharmaceutical supply chain challenges #3: Evolving marketplace

Complex supply chains and poor supply chain management in the pharmaceutical industry are making it difficult for companies to address the demands of a rapidly evolving marketplace. The under-utilization and inefficiency of supply chains to cope with the sort of products coming down the pipeline are forcing pharmaceutical companies to undergo a radical overhaul, creating challenges for companies. To gain detailed insights into the pharmaceutical supply chain challenges, request more information here!

Pharmaceutical supply chain challenges #4: Cold-chain shipping

Most of the top-soling medicines are biologics i.e., either they are produced from living organisms or contain components of living organisms. Such medicines are heat sensitive and susceptible to contamination. Maintaining a desired low-temperature range becomes one of the major pharmaceutical supply chain challenges that such companies face nowadays.

Cold-chain shipping is expected to be adopted more widely by companies as few CART-T cell therapies currently got approved in the USA. CART-T cells are manufactured from a patient’s own immune cells and need to be kept frosty which can be a major challenge for companies.   

Pharmaceutical supply chain challenges #5: Compliance issues

The USA imports a major portion of active pharmaceutical ingredients from manufacturers in India and China. However, there have been certain instances when the Food and Drug Administration has issued warning letters to improve compliance. Suppliers and distributors need to abide by the norms set by the Drug Supply Chain Security Act and ensure “traceability” of products, creating one of the major pharmaceutical supply chain challenges for companies.

Improving supply chain in pharmaceutical industry is crucial for companies to devise effective strategies and manage new product portfolios. Get in touch with our experts to leverage pharmaceutical supply chain management solutions.


4 Reasons Why IoT in Healthcare is the New Trend and its Role in Transforming the Pharmaceutical Supply Chain

Efficiency, convenience, and automation are the three words that define everything the Internet of Things (IoT) stands for. Today, IoT has become a game changer technology that has been creating quite a buzz in almost every industry. But has this technology found acceptance in healthcare? The modest beginning of IoT in healthcare can be traced to the use of smart sensors, remote monitoring, and medical device integration as well as wearable biometric sensors, activity trackers, glucose monitors, smart beds and medication dispensers. Additionally, the use of IoT in healthcare will help mitigate pharmaceutical supply chain entropy, while improving transparency and visibility. The future of healthcare will be exhilarating with more expansion and investment in IoT.  This technology is expected to optimize every aspect of care as well as the pharmaceutical supply chain and transfigure the way it is managed across the continuum. So, let’s understand in detail the reasons why IoT in healthcare is the need of the hour. (more…)

7 Benefits of Short Food Industry Supply Chains

Short food supply chains are characterized by few intermediaries and shorter physical distances between producers and consumers. These supply chains are good for increasing profits of farmers and other producers, revitalize rural economies, and give consumers access to fresh, fairly-priced foods. Short food supply chains are garnishing more attention as consumers are concerned about the spread of foodborne diseases as well as issues such as the horse meat being identified in packaged foods in Europe. In this article, we have talked about some of the greatest benefits that the use of short food industry supply chains offers:

Benefits of Short Food Industry Supply Chainsrequest proposal

#1. Improved negotiating positions for farmers

These short food industry supply chains offer farmers greater power during negotiations, especially during those with retailers. Using short food industry supply chains that do not consist of multiple processors, traders, and wholesalers give farmers and small producers more direct access to the market.

#2. Increased communication between producer and consumer

Short supply chains can lead to job creation, especially in rural areas, which also helps to increase the farmer or producer’s reputation and the trust that consumers place in them. Operating locally allows producers and consumers to have more direct communication and interaction, which also helps to build loyalty and trust.

#3. Reduced transportation costs

Short supply chains typically serve a local area, reducing the energy costs, transportation costs, and CO2 emissions used to transport goods in longer supply chains. Because of this, these supply chains have a greater potential to be made sustainable and to remain sustainable over the long term.

#4. Increased transparency 

It’s easier to make short food industry supply chains with few or no intermediaries transparent than it is longer and more complex ones. Producers are also able to offer more detailed information about their business and practices, helping to build their reputation, increase customer retention, and build loyalty. It also makes it easier to make procurement decisions.

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#5. Reduced risk

Short food industry supply chains reduce the risk of damage, contamination, or theft of the products during transportation, packaging, or production. Minimizing the number of players involved in the supply chain helps to make it safer and more secure, which helps to protect farmers and producers as well as their end-users.
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#6. Increased quality

Doing business and transporting goods locally increases their overall quality by reducing the need for freezing and use of preservatives, allowing customers access to a fresh food supply. Additionally, short food industry supply chains reduce food waste and disposal costs for farmers and producers.

#7. Greater profits

Short food industry supply chains offer farmers with greater profits while keeping the end-price more or less the same for consumers. By eliminating middlemen, reducing the length of the food industry supply chains, and operating on a more independent basis, farmers and small producers are able to keep more of the resulting profits for themselves rather than share them amongst other suppliers.

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