Leading pharma companies are now executing focus initiatives in various fields of logistics, including process planning, distribution, and route optimization.
LONDON–(BUSINESS WIRE)–One of the world’s leading analytics solutions provider, Quantzig, today announced the completion of its recent article that offers five practical recommendations for improving pharma logistics optimization.
According to Quantzig’s logistics optimization experts, “The exponential growth in pharma supply chain complexities has forced leading pharmaceutical companies to rethink their current logistics and distribution processes.”
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Considering the current business milieu, pharma companies can reduce logistics costs by 35% to 40% with the help of pharma logistics optimization solutions. Notably, leading pharma companies have made tremendous strides in reducing costs by automating processes and driving innovation in logistics operations. While these innovations have brought in waves of transformations that have helped reduce costs, their greatest impact can be felt in the area of circular supply chains. Hence, it’s quite evident that pharma logistics optimization not just helps optimize supply chain and logistics processes but plays a key role in reducing costs and driving supply chain efficiency.
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Based on our interaction with key stakeholders and decision-makers in the pharma industry, we’ve listed a few practical recommendations for improving pharma logistics optimization.
#1 Develop a cohesive approach for improving supply chain security by developing effective category management and supply chain management capabilities
#2 Devise robust logistics management procedures and capabilities, linked to the master deployment plan and the manufacturer through effective supplier relationship management
#3 Design a centralized logistics network to minimize transport time and replenishment rate. To do so, businesses can consider leveraging geographic data and insights from metered installations to manage stocks and conduct periodic audits to eliminate squirrel stocks
#4 Leverage logistics analytics to inform better decision-making around resource allocation and asset optimization
#5 Track and monitor logistics movement in real-time by deploying advanced analytics dashboards. Implementing a robust approach to sort, test, repair and recycle assets will also help you get a step closer to establishing circular supply chains
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At Quantzig, we understand the challenges faced by pharma companies across geographies and to help tackle them we offer end-to-end logistics optimization solutions that help drive efficiency across the value chain. Read the complete article for comprehensive insights.
Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 15 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 45 Fortune 500 companies. For more information on our engagement policies and pricing plans, visit: https://www.quantzig.com/request-for-proposal
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Original Source: https://www.businesswire.com/news/home/20200624005073/en/