Article written by Hariesh Manaadiar
- What are the biggest changes to the pharma and medical supply chains since COVID-19..??
- What has become obsolete and what new industry trends to look out for..??
- What will the “new normal” in pharma and medical supply chains look like..??
These are some of the questions that keep logistics service providers handling pharmaceutical and medical supply chains awake at night..
These are some of the very same questions that pharma and medical industry and supply chain experts will be discussing in an informative webinar on the 6th of August 2020.. So don’t miss out..
Below is some background information on this issue and webinar..
Supply chain is often described as the vital and crucial link required to get the product from the manufacturer to the market place for ultimate consumption by the consumers..
While this is a simple enough definition or explanation, it is not as easy as it sounds, especially in specialised industries like Pharmaceuticals..
Reports indicate that by 2020 the global pharmaceutical market will more than double to around US$1.3 trillion, with Brazil, China, India, Indonesia, Mexico, Russia and Turkey accounting for 1/5th of global pharmaceutical sales..
Pharmaceutical supply chains are greatly influenced by forces both external and internal because of the environment they operate in because the supply chain covers organisational, operational and many value-added activities from new product development till delivery to the local pharmacy, hospitals or to the patients directly..
Pharmaceutical supply chain can be very complex with challenges like :
- Visibility – of shipments is critical because many of these drugs could be life-saving drugs and required in various markets around the world in critical situations like Ebola ;
- Knowledge and awareness – whoever handles the supply chain should have an in-depth awareness of all the nuances involved in the sourcing, manufacturing, storage and transport of the products ;
- Compliance – adherence to regulations is extremely important in the pharmaceutical industry as it is highly regulated around the world, not just in manufacturing but also in its transportation and importation ;
- Cargo handling – due to the sensitive nature of these products, it is imperative that they are handled and moved carefully, some of them are required to be transported under specific conditions using temperature controlled and hazchem approved methods ;
- Documentation – getting the documentation for the movement and handling of these goods is especially important ;
- Security – is another grave challenged faced by pharmaceutical supply chain companies due to the value of the goods.. Security concerns include tampering of the goods, pilferage, compromising of the quality of the goods..
The diverse products that are manufactured create the need for complex handling and distribution processes as different products needs to be moved in different ways within different delivery timelines, some extremely short due to the drug’s life span.. A credible pharmaceutical supply chain must be flexible to handle such diverse requirements..
As the industry is heavily regulated especially in terms of pricing, the supply chain needs to be lean and have an adaptable cost structure so that the margins are maintained to ensure business sustainability..
The pharmaceutical supply chain is a demand driven one requiring delivery schedules at short notice over a wide distribution network..
Circumstances like the current pandemic have changed the way pharmaceutical supply chains need to operate as the pandemic has brought about new ways of assessing the need for medicines and services and the need for new modes of delivering healthcare, especially into vulnerable communities..
Digitalisation and new technologies such as blockchain have been touted as the solution for many problems in supply chain..
To analyse these issues, ShipChain is bringing together some of the experts in the supply chain and pharmaceutical industries to understand the past, present, and future challenges for pharma and medical supply chains in the COVID-19 era..
The expert panelists will examine how supply chains will need to adapt in order to weather the storm caused by this pandemic and the future of pharmaceutical and medical supply chains..
Original Source: https://www.shippingandfreightresource.com/the-future-of-pharma-and-medical-supply-chains-in-the-covid-19-era/#