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With the growing scrutiny on pharmaceutical supply chains, the company executives are worried about how long their supply chains are and how much risks they are exposed to.
Fremont, CA: The regulators are paying attention and expanding their scope to encompass the elements up and down the manufacturing chain, starting from API and excipient providers to compounding, packaging, logistics, and so on. Currently, we are at an edge of transformation. Thus taking the trends into account FDA will expect the industry participants to be more technology and data-driven. More emphasis will be laid on supply chain transparency and traceability stretching to the furthest reaches of a product’s supply chain.
It was considering the accelerating scientific discovery in the sense that compliance growing more challenging the past year has ushered in several manufacturing-related regulatory changes. Here are some of the supply chain logistics trends dominating the pharmaceutical industry in the coming future.
Focus on Compliance
The industry as a whole is experiencing more targeted compliance, as the regulators work to find the gaps and address process failures. Therefore enterprise pharma companies will continue to launch regulatory transformation initiatives. For instance, Few companies are chosen for a pilot program that will explore using blockchain technology to better the security of prescription drug supply and distribution by helping them to monitor the products in real-time.
The Importance of Serialization
A new set of regulatory changes driven by safety and counterfeiting concerns adds an extra layer of complexity to the drug industry. There is a possibility that counterfeit medicines might be contaminated or even contains the wrong or no active ingredient. All the counterfeit drugs are illegal as well as they can be harmful to health. Regulatory agencies instruct the pharma companies to track the product ID, origination, and the tracing of its movement.
Increasing data traceability demand is driving digital transformation
The industry is hit by the wave of digital transformation, and it will continue to pick up steam in the coming year. With the prime goal of streamlining the complete supply chain, virtually all the documents will move through online processes. Currently, digitization is playing a significant role everywhere. Everyone wants to get access to real-time data and information to improve decision-making processes.