Benefits of Supply Chain Control Tower For Pharma Business
As the world is advancing and the population is increasing, the need for medicines and pharma products has increased. The pharma supply chain industry involves millions of people from different parts of the world. Due to this, the pharma supply chain is getting more complicated, and many hospitals and patients are being affected.
The Supply Chain Control Tower has been introduced to solve this issue. This is basically a set of cloud-based systems to control the supply chains. Advanced technologies such as Artificial Intelligence and the Internet of Things are used in this system.
Today, we will look at some major benefits of a Supply Chain Control Tower for the Pharma Business.
Information Collection of Products
A control tower is a central hub of information. They collect data from various resources into their database to enable quick reach. The control tower operates the product’s temperature, location, and weather conditions in real-time without a need to search for it on different devices. Ada Pálmadóttir, Vice President of Business Development at Controlant has also emphasized on the importance of a centralized dashboard today for the distribution of Covid vaccine and other medications.
Easier Tracking of Information
The pharma Supply Chain is a very complex sector. It has manufacturers, distributors, and retailers all over the world. It is very tough to rack and trace information in the pharma supply chain without any technology or technique. This complexity leads to the production of some faulty medicines. The World Health Organization has called it one of the biggest issues in the pharma industry. Thousands of people die every year due to these faulty medicines.
For this reason, the Supply Chain Control Tower is beneficial. It makes the tracking and tracing of information easier. This data is accessible to every manufacturer, distributor, retailer, and other person related to the industry. Even hospitals and patients can access this information. It allows the proper flow of pharma products from manufacturers to consumers.
Better Distribution of Medicines
The Supply Chain Control Tower is also valuable in improving drug distribution by eliminating all kinds of errors. The Supply Chain Control Tower monitors the products throughout the process. So, if any inconvenience occurs in the pharma supply chain, the supervisors, who monitor it, try to prevent these issues.
A supervisor monitors the problem and provides a solution accordingly. For example, if the supervisor knows that the temperature controller is not working properly, he will ask the transporter to take a shorter route. So, the products can reach their destination before the temperature varies. Overall, the advancement in technology in Supply Chain Control Tower is resulting in a better distribution of drugs around the globe. This also resulted in the prosperity of the Pharma industry over the years.
Save Time, Money, and Investments
Because Supply Chain Control Tower helps in improving the Supply Chain of Pharma products, this will eventually save much of your time, money, and investments. Time and money are the most valuable assets in today’s world. If you have enough time and money, you can easily set up and grow your business.
The Supply Chain Control Tower is introduced for the same purpose. It monitors the Supply Chain to prevent any kind of money or time loss. It focuses on making the process completely perfect. So, the Supply Chain Control Tower saves a lot of time and money that can be invested to grow the industry.
For sure, the Supply Chain Control Tower has some next-generation technologies. These allow the pharma industry to collect all the data and use it for the improvement of the supply chain process. The major benefits of this control tower are tracing data, improving distribution, saving investments, and building connections.