Supply Chain and Logistics Challenges the Pharmaceutical Industry might Face to fight Covid 19

The pharmaceutical industry relies heavily on cold chain cargo space in trucks to transport vaccine-related products. But freight options have been drastically reduced as the restrictions on shipping, worker shortages and lack of drivers have increased the freight costs.

As the world adopts to the new norms because of the pandemic, adapting logistics and transportation methods means working against the clock since a large number of raw materials for pharmaceuticals and goods used in biotechnology require transport under special conditions and many of the drugs have limited lifespans.

Many of the problems existed pre-COVID and in the hour of need these problems becomes decisive. They include volatile fuel prices, regulatory complexities, and aging transportation infrastructure. The pharmaceutical supply chain has also been fragmented. Many companies lack the IT infrastructure necessary to share and leverage real-time data or monitor suppliers and disruptions.

The world is looking for long-term solutions. Widespread adoption of transportation manufacturing systems will play a key role in making lifesaving drugs more available and affordable. In fact, TMS can improve margins for shippers by reducing net landed costs of goods by as much as 30 percent.

 

A few ways the pharmaceutical industry can improve their transportation management systems

·         Digital Supply Chain Network

 

The manufacturers and the partners must be ready to ensure that medicines can be available exactly where and when they’re needed. This can be done through increased operational visibility via a digital supply chain network.

A digital supply chain ensures there is always a transparent flow of information between logistics and the transportation that helps all parties plan, adapt, and manage customer expectations.

·         Predictive Analysis

 

Adopting the right technologies allows pharmaceutical companies to react to disruptive events before they lead to significant issues like shortages of critical medications.

Visibility and predictive solutions are growing smarter by the day. These solutions alert pharmaceutical companies to potential risks and business impact so they’re empowered to make quick, data-driven decisions

 

·         Automation-ready infrastructure

With the right physical capital in place, Manual tasks, like accepting shipments, sending updates, invoicing, and organizing documents can be automated.

Automation capabilities includes accelerated invoicing via shipment confirmations to automated status alerts and even IoT integration.