As many firms re-evaluate their supply chain structures and leverage newer technologies such as cloud, automation, IoT etc., investing in a holistic digital transformation has become necessary. These solutions help in simplifying real-time shipment tracking, which ensures products are delivered on time while adhering to local regulatory requirements
The Indian pharmaceutical and healthcare industry has played a stellar role in the fight against COVID-19 during the pandemic. From managing the supply chain of nearly two billion vaccine doses in the country, to ensuring seamless vaccine shipments to over 100 nations, supply chains have been at the forefront of the battle against the pandemic. However, the pharmaceutical industry faced significant challenges too such as medicine stock-outs, last-mile service delivery issues, ill-equipped warehousing facilities, shortage of qualified labour etc.
Aspects such as tracking (from a compliance standpoint) and digitalization (from an operational standpoint) is key in the pharmaceutical industry. For the most part, the pharmaceutical sector has taken a conventional approach to most business procedures. However, if the industry is to reach its full potential, a paradigm shift from production skills to operational efficiency is the need of the hour. This is where a well-functioning supply chain plays an all-important role. Real-time visibility and coordination provide full traceability, a key aspect in the pharmaceutical industry.
The pharma industry has not been immune to the ecommerce trend. Patients can’t choose their prescriptions, but they can decide where to acquire them. Their decision is highly influenced by product availability and price, which has made supply chains even more strategic for all players. This requires complex inventory strategies that cannot be achieved with unintegrated supply chain legacy technologies.
As many firms re-evaluate their supply chain structures and leverage newer technologies such as cloud, automation, IoT etc., investing in a holistic digital transformation has become necessary. These solutions help in simplifying real-time shipment tracking, which ensures products are delivered on time while adhering to local regulatory requirements. Temperature monitoring and tracking software are now integrated into transportation management systems (TMS), which is a significant advancement given the rising requirement for supply chain visibility.
Visibility within the pharma supply chain is about knowing your network and supply base, locating bottlenecks, and having the real-time information to know where products are at any point in the network; from bottling and labelling, to storing and distribution, and doorstep delivery. It is also imperative for Pharma companies to look at cloud software platforms that can serve as the backbone of their supply chains, ensuring that all participants – manufacturers, 3PLs, distributors etc. have complete visibility of the entire product journey, providing a clear record as the product moves through each stage of the entire global supply chain process.
Organisations can now streamline supply chain operations thanks to the integrated capabilities of modern supply chain systems, which include warehouse management, transportation execution, performance tracking, slotting optimization, and labour management. This improves accuracy and decreases human interaction, while increasing performance and lowering inventory carrying costs. Supply chain systems can be made simpler by coordinating the manufacture, distribution, and design of pharmaceutical items within the supply chain divisions. Organisations will be able to plan more correctly and cost-effectively. These accelerating trends in the pharmaceutical industry are bound to continue for some time to come.
