Tive is a leading provider of real-time supply chain visibility insights that help logistics professionals actively manage their in-transit shipments' location and condition. With Tive, shippers and logistics service providers (LSPs) eliminate delays, damage, and shipment failures. Tive's solution provides data generated by its industry-leading trackers allowing clients to actively optimize their shipments, improve their customers' experience, and unlock supply chain insights in an actionable real-time manner.
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.
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
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, its 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.”
Their 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. They know how important it is for you to have actionable information to take timely action that will help prevent theft, spoilage, damage and delays.
About Pharma Supply Chain and Logistics Innovation Programme 2022
Pharma Supply Chain and Logistics Innovation programme is a promising conference of World BI, focusing on different aspects of supply chain challenges especially during the COVID-19 pandemic. Get to know how supply chain professionals ensure the agility and visibility of the complex supply chains with the technological advancements in the world nowadays. Implement the robust supply chain plans as forecasted and monitoring the distribution network, keeping in mind the last mile delivery and patient centricity.
7th Pharma Supply Chain and Logistics Innovation Programme to be held in Basel, Switzerland on 10-11 May 2022.
8th Pharma Supply Chain and Logistics innovation Programme to be held in Munich, Germany on 23-24 November 2022.
This year Pharma Supply Chain and Logistics Innovation programme will come up with new flavors discussing all the challenges for a disrupted supply chain post covid, supply chain management and supply chain differentiation covering technological advancements. This conference is a blend of discussions featuring end-end supply chain, supply chain optimization, product security & authentication and regulatory compliance.
Speakers & delegates such as MSD, GSK, Novo Nordisk, Vifor Pharma, Bayer, Johnson and Johnson, Novartis, Cytvia, Clover Biopharma and many more are looking forward to joining this conference.