With a maze of regulations across global jurisdictions and even more complex, temperature-sensitive pharmaceutical and healthcare product requirements, the life sciences supply chain is under pressure to adapt. And from the EU’s Good Distribution Practice guidelines to Brazil’s stringent serialization laws, regulatory compliance is only increasing. In the U.S., serialization, the next phase of the Drug Supply Chain Security Act (DSCSA), goes into effect next year for pharmaceutical manufacturers. By 2023, the Act will ensure that manufacturers, repackagers, distributors and dispensers can only transact with serialized product, ensuring unit level traceability across the pharma supply chain. How are supply chain leaders in the pharmaceutical and healthcare industries coping?
Topics: digital supply chain, healthcare, life sciences supply chain, mobile-first supply chain, pharma supply chain, pharma supply chain management, pharmaceuticals, serialization, Solutions, Supply Chain Management, supply chain solutions, DSI cloud inventory™
Global supply chains continue to grow in complexity, but even with recent high-profile security breaches and logistics slowdowns, two new studies suggest many businesses may be underestimating supply chain threats. A recent study suggests one common threat, the loss of a key supplier, is effectively shrugged off by a surprising percentage of businesses surveyed. Zurich Insurance Ltd.’s global survey report on the potential business impact of “loss of the main supplier” for small and medium enterprises demonstrates that a majority of organizations (55%) claim they would not be affected at all were they to lose their main supplier.
With the holiday season in full gear, businesses race to keep up with customer demand and as a result, inventory management challenges rise to the forefront. A recent study revealed that out-of-stocks, overstocks and returns cost retail businesses a massive $1.75 trillion a year. To protect your bottom line, you need to know what’s in stock, what’s on order, and where and when it’s shipping—in short, you need real-time visibility into your inventory. Fortunately, cloud-based inventory management can play a crucial role in preventing feast or famine and addressing industry-specific inventory challenges so that you can escape the #blackfriday #fail Twitter hashtag combination next year.