“Real-time visibility is a building block for us to support a customer-centric ecosystem of health care products, supply chain solutions and adjacent services,” said Joshua Dolan, Vice President of Global Logistics at Cardinal Health. Supplier compliance and product visibility and timing in transit were each highlighted as key obstacles by 37% of respondents.
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When it comes to inbound supply chain challenges, 39% of respondents identified supplier manufacturing visibility as the biggest pain point, echoing the concerns of quality assurance as a key driver for innovation. Beyond real-time reports for temperature and security, the survey revealed many opportunities for supply chain visibility to help improve inbound challenges and operations.Ħ0% of organizations consider quality assurance to be the key driver for enhancing security and visibility requirements, followed by 51% of companies that are focused on improving customer experience and 40% on operational execution. Among the findings, 32% of executives identified product protection and the need to quarantine as their biggest pain points in transporting and storing goods, while nearly 50% cited security and temperature reporting as the biggest issues. To better understand the state of the pharmaceutical supply chain, FourKites surveyed supply chain executives working in pharmaceuticals, biotech, cell and gene therapy, medtech and other related industries. “Proactive notifications and continuous monitoring of vaccines and other supplies are the best way for manufacturers and vendors to ensure a product doesn’t fall outside of recommended temperature ranges.” “Only end-to-end supply chain visibility and insights can provide pharmaceutical manufacturers and healthcare providers with the adaptability, precision and agility needed to provide the best patient care and to reduce waste,” said Mathew Elenjickal, founder and CEO of FourKites. According to Supply Chain Dive, vaccine losses due to temperature excursions cost around $34.1 billion annually, while the United Nations reports that greater supply chain visibility into the cold chain could have saved 1 billion vaccines during the COVID pandemic.* COVID-19 further highlighted the acute need for visibility at every node along the pharmaceutical supply chain. Many existing visibility solutions fail to account for the unique nature of pharmaceutical supply chains, including cold chain shipping, raw material availability, security of shipments in transit, stringent temperature and quality control measures and high inventory costs. That’s according to “ The Pharmaceutical Supply Chain: Closing the Visibility Gap,” a new report issued today by FourKites, provider of the world’s leading real-time supply chain visibility platform. As a result, more than nine in 10 executives plan to implement a more robust digital supply chain visibility (SCV) solution over the next 12 months.
Pharma executives cite supply chain visibility as critical solution to alleviating product loss and security concerns, while one-third are dissatisfied with current solutionsĬHICAGO - DecemWhile approximately half of pharmaceutical organizations have already deployed visibility technology to track raw materials and to better plan their manufacturing, many are dissatisfied with the capabilities of their current solutions. Start improving sustainability across your supply chain with real-time visibility.
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