To overcome the challenges in the supply chain, organizations need to devise long-term strategies, giving more importance to the adoption of emerging technologies to streamline the processes and drive efficiency.
FREMONT, CA – For a long time, the supply chain in the pharma industry has remained adamant in its old ways. However, the globalization of drug supply and the emergence of new pharmaceutical technology have made it imperative for the supply chain organizations to overhaul their conventional approaches and incorporate innovative strategies to stay at the forefront in the market. Several organizations have taken steps to renounce the outdated supply chain networks and streamline the delivery of drugs to different parts of the world.
The Changing Landscape
The pharmaceutical industry is struggling to keep up with other sectors in terms of technology integration. To resolve the problems and inefficiencies of the supply chain, organizations need to form long-term strategies, giving more importance to the adoption of emerging technologies to streamline the processes, as well to drive efficiency.
The Need for Quick Transport
Biologic drugs and gene therapies are replacing conventional medicines, and this has forced the distribution channels to revamp their approaches. Biologic drugs are highly sensitive to variations in environmental conditions and are easily susceptible to contamination. Hence, they require cold-chain shipping in controlled conditions. Since these products have shorter product life cycles, they require quick transportation from the manufacturer to the customer.
Like all other sectors, the focus in the pharmaceutical industry has shifted from delivery approaches to patient outcomes. As the demand for enhanced service increases, supply chain organizations have to take into consideration the need for prompt delivery and effective results. The transition toward value-based healthcare is challenging for traditional organizations, but it is imperative for them to change their approaches to retain their edge in the market.
The introduction of Pharma 4.0 offers an ideal opportunity for manufacturers, packaging companies, and supply chains to collaborate and develop innovative solutions. The incorporation of smart tracking systems will allow organizations to manage their processes more efficiently in real time. It will also enable them to track products along the supply chain. Judging from the rise and fall of organizations across various sectors, there is no doubt that supply chains which adopt modern technologies will lead the revolution in the pharma industry.