Warehouse management is arguably the most crucial aspect of logistics for any organization. The entire process – of transporting goods from a warehouse to a dealer and vice-versa – requires extensive attention. Businesses require specialized, dedicated logistics management to efficiently deliver and distribute their products.
The transportation of goods usually revolves around different participants like 3PL (third-party logistics), the freight supplier, and the driver. Consequently, there should be adequate communication between these parties with vendor management. In most cases, businesses prefer to reduce nonessential costs that arise, especially in the course of conveyance, with the help of these regulations.
Similarly, other industries like pharmaceuticals and cosmetics rely on cold chain logistics and supply chain management systems too. The pharmaceutical industry utilizes two main ways of transportation. One of which is Pharma Track and Trace, the other being Supply Chain Monitoring.
Pharma Track and Trace
Just like the name suggests, a pharma track and trace system allows a company to track their commodities’ (either as a whole or individually) with real-time data and also trace the previous location of their drugs.
This model provides information related to the location, ETA (Estimated Time of Arrival), and status of the drugs. However, it’s not essentially detailed, and the location data is limited, which doesn’t aid in reviewing the freight or traveling process. For example, the system can inform you of a stoppage in the travel but cannot give data as to the reason for it, such as an accident.
Due to insufficient implementation of technologies like RFID tracking, sensors, IoT technology, vehicle tracking system, the data firms receive is hardly adequate. The pharmaceutical industry relies heavily on real-time data about the precise condition of drugs. More importantly, drugs are more prone to theft, damage, counterfeiting, and hence, detailed information with the help of asset management regarding drug packaging is highly crucial.
Additionally, a firm also needs to be aware of the complete journey of the packaged drugs, for example, the number of stops, delays, changes in the path or routes. This assists the supply chain leaders to be aware of any mishap from the driver’s end.
Pharma track and trace is not entirely reliable until the system is equipped with integrated technologies such as dealer management system and asset management software. Plus, it barely gives any substantial data that can be later analyzed and studied for improvement.
However, the global pharma track and trace market is augmenting and is reported to touch $7.3B by 2026.
Supply chain monitoring
Supply chain monitoring is a method to collect accurate real-time data from various sections of transportation until the arrival of the product. Thanks to technologies such as RFID tracking, barcode machines and scanners, vehicle tracking systems, and IoT applications, the exchange of data can be done effectively.
When pharma track and trace is backed by supply chain management, data can be compiled and assessed. For instance, paper-based indicators like Cold Chain Monitors ensure that the drug will be preserved at the optimum temperature while storing or transporting.
Another feature that supply chain monitoring offers is for pharmaceutical drugs to be serialized individually; this unique product number can be later cross-checked if it undergoes any form of tampering. Serialization also prevents the drugs from being smuggled, be replaced by fake ones, and can be recovered easily if stolen.
Furthermore, a vehicle tracking system tagged with IoT technology can record the whole journey of the packaged drugs. Likewise, it uses GPS, which displays the real-time location of all assets’. This enables a firm to not only control but also monitor the driver to travel appropriately in a cost-effective route.
For example, a vehicle tracking system can deduct expenses that can be avoided by taking a shorter route. The journey can then be properly evaluated by asset management software that’ll provide a suitable estimated expenditure for future transportation. The supply chain management system sources all the requisite details and data right from the storage in a warehouse, utilizing the warehouse management system by coordinating with a vendor via the vendor management system.
A Crucial Role
To conclude, the Pharma track and trace system can be improved by simply employing modern technologies such as IoT applications and inventory management. Such technologies support businesses like pharmaceutical companies to get exact and accurate real-time data. Moreover, logistics supply chain management can further refine the analysis of drugs and also ensures their condition to be favorable for use.
Similarly, obtaining reliable information is a foremost priority in maintaining the quality of drugs. Other than this, IoT solutions play a crucial role in curtailing excess costs related to conveyance.
Bar Code India (BCI) is India’s leading barcode service provider. From warehouse management to manufacturing operations, vehicle tracking, asset management and much more, BCI offers comprehensive solutions across every step of the supply chain. To learn more about Bar Code India, check out the website.