The distribution of pharmaceuticals without real-time tracking of shipments is a risky business indeed. Each year, undetected in-transit issues in the cold chain collectively cost companies billions of dollars in lost revenue. If something goes wrong in the distribution process, the bottom line of the company’s balance sheet takes a hit. And while that’s bad enough, the impacts could be much worse if a botched shipment of medicine or vaccine results in harm to someone’s quality of life or even death.
With so much riding on the line, manufacturers, shippers, carriers, and logistics service providers who must work together to ensure the safe delivery of pharma products need a deeper level of data and greater visibility now more than ever. That’s why Tive, a leading provider of in-transit tracking and visibility solutions, produced this ebook titled How Real-Time Tracking of Shipments Supports the Distribution of Pharmaceuticals.
Or perhaps you need a bit more information about what this value-packed resource covers. Read on for details.
For starters, we take a closer look at the challenges that are common when it comes to the distribution of pharmaceuticals. Those challenges include not only preserving the quality of those shipments but also trade compliance-related issues. We also explore how emerging technologies, such as solutions that provide real-time tracking of shipments, need to be compliant as well to ensure accuracy. Things culminate with 10 ways real-time tracking of shipments supports the distribution of pharmaceuticals.
Distribution of Pharmaceuticals: The Challenges
Yes, data collection is not new to the supply chain; in fact, most supply stakeholders are probably drowning in data. But is it the right data? Is it real-time tracking of shipments, or is the data delayed? Can it be trusted? Is it easily accessible and shareable or is it trapped in a silo?
And it’s not just about data collection; it’s equally important stakeholders know how to use that data. As Pharma Technology Focus notes: “Poor data control is responsible for significant supply chain issues, given the existing silos, handoff points along the supply chain, and potential errors. These issues prevent companies from making their data work for them to create efficiency, improve quality, and reduce costs.”
Our ebook examines some of the more prevalent challenges that can be traced to poor quality data and a lack of visibility.
- Inability to Easily Identify Disruptive Events
- Risk of OTIF Failures
- Optimizing Inventory Levels
- Overstocking & Potential Ripple Effect
- Security Threats Omnipresent
- Compliance-Related Issues
Real-Time Tracking Solutions Must Be Compliant
It is equally important to ensure that any technologies used in conjunction with the distribution of pharmaceuticals meet all applicable compliance standards as well. We focus on three that come into play regarding the real-time tracking of shipments and will provide greater detail about:
- FDA 21 CFR Part 11
- 3-Point NIST Calibration
The Solution: Real-Time Tracking & Visibility
The best way to solve the challenges associated with the distribution of pharmaceuticals and ensure compliance at the same time is to find a solution that offers better transportation visibility through real-time tracking of shipments whether by land, sea, or air. There are many features and benefits that come with a solution that offers real-time tracking of pharmaceutical shipments, such as:
- Real-time, accurate visualization and monitoring of location, temperature, humidity and security will help improve OTIF rates.
- Real-time actionable alerts, configured to each client’s unique specifications, allow for proactive planning and responses when disruptions occur.
- Shipment analysis scorecards and reports on different modes and lanes.
For seven more ways real-time tracking of shipments and visibility solve challenges associated with the distribution of pharmaceuticals,
At Tive, every shipment matters. We know how important it is for you to have actionable information to take timely action that will help prevent theft, spoilage, damage and delays. Once you read the ebook, schedule a demo so we can show you the power of our world-class trackers and software.