The Pharmaceutical sector is exploding: McKinsey & Company estimates that the global value of goods traded has increased sixfold in the last two decades. distribution is a high-stakes enterprise, with high-value shipments, crucial temperature conditions, and stringent compliance as a need. Undetected in-transit errors can cost businesses billions of dollars in lost revenue in the cold chain, not to mention the human lives at risk.
According to this analysis, the most common issues in Pharmaceutical distribution may be linked back to poor data quality and a lack of visibility. We look at how real-time shipment tracking speeds up Pharmaceutical distribution and provides information that helps supply chain leaders solve these obstacles by making proactive management decisions. Pharmaceutical shipments can be jeopardized in various ways due to a lack of real-time, in-transit visibility.
Security dangers and compliance-related issues are constantly prevalent in distribution. The data needed to overcome the difficulties above and enhance OTIF rates can be found in a solution that provides real-time visibility into Pharmaceutical shipments’ location, temperature, humidity, and security. When disruptions arise, actionable in-transit warnings can help with proactive management and reaction. Furthermore, data analytics-based shipment predictability facilitates leaner, more efficient, and cost-effective operations.