Growing Demand Of Pharma Logistics Company In India

India is the largest provider of generic drugs and ranks third in terms of pharmaceutical production by volume. The domestic pharmaceutical industry includes a network of drug companies and manufacturing units. With India’s domestic pharmaceutical market estimated at US$ 42 billion in 2021 and likely to reach US$ 65 billion by 2024,  pharma logistics play an important role in ensuring safe and timely supply chain management. 

Pharma logistics company in India needs to provide traceable, secure, and compliant supply chains with end to end visibility to the pharma industry. The growth of the market for pharma logistics is also attributed to the increasing demand for Over-The-Counter (OTC) medicines such as vitamins, minerals, supplements, drugs, and other medicinal products.  

Outsourcing has been a popular way for pharma companies to enhance their operational efficiencies, expand their geographical presence, and increase diagnostic expertise and on-demand services. Pharma logistics management plays a very important role to ensure medical supplies are always adequate and wastage can be avoided. 

The pharmaceutical manufacturing companies are increasingly outsourcing logistics management to healthcare logistics company due to which pharma companies can utilize state-of-the-art technologies such as telematics and remote monitoring to provide safety and convenience during transportation operations.

Pharmaceuticals are invaluable, often expensive, and sometimes lifesaving products, so the pharma logistics services are tremendously important. These products need to get to their destination, and they need to get there quickly and safely.

Safexpress, a leading tech-based logistics service provider with its multimodal network across India are well equipped for the unique requirements of the pharmaceutical industry. A wide range of services that include storage, reverse logistics, advanced tracking, and tracing technologies ensure complete supply chain visibility and reporting. 

With advanced planning, innovative strategies, and a professional team, Safexpress pharma logistics solutions are designed to adhere to standard quality norms and regulations to facilitate the smooth and efficient shipping of cargo.

Few benefits of outsourcing to a pharma logistics company in India are:

 · Transparency and visibility

The supply chain in healthcare is complex and time-sensitive as it involves proper measures to be maintained along the entire supply chain process.  As multiple stakeholders are involved in the supply chain, the visibility and traceability of the cargo becomes difficult to maintain leading to loss and damage of cargo. With the help of the latest technologies communication and transparency along the entire supply chain ensures proper control over the movement of products. 

It also helps to prevent the distribution of counterfeit pharmaceuticals in the market. Logistics monitoring at every stage of the supply chain provides visibility and services can be tailored to meet the complex needs of the healthcare market.

 · Warehouse management

With the pharmaceutical market growing, the need for proper warehouse management is very essential to avoid counterfeiting, maintain proper stock management and avoid wastage of products. The pharmaceutical industry relies heavily on logistics services for this task.

 · Adhering quickly to new legislation and regulations

With regulations constantly changing and different in other countries, it can be very difficult for any company to keep track of the same. Healthcare logistics company  would be able to guide pharma companies regarding the safety and packaging requirements to follow to maintain the environmental and policy regulations set by the governments.

 In Conclusion

The technology that can be used to track pharma shipments is ever-changing and pharma logistics company in India can help pharma companies to monitor shipments, recognize if a problem is taking place, and be able to intercede quickly to thwart potential threats. 

Source - https://www.reddit.com/user/safexpress1/comments/onv7jf/growing_demand_of_pharma_logistics_company_in/

Challenges Faced by The Healthcare Logistics Service

 

Healthcarehas become one of the leading and largest sectors both in terms of revenue and employment in India. With the healthcare market in India expected to reach US$ 372 billion by 2022, healthcare logistics is a long way from being able to handle the increased demand for proper storage, transportation, traceability, and much more. Any pharma logistics company needs to implement traceable, secure, and compliant supply chains with end-to-end visibility.

 

Now, logistics accounts for a sizeable portion of healthcare operations budget. But a few challenges faced by healthcare logistics service are:

 

·         Lack of modern technology to forecast demand and supply

 

The healthcare industry is still dependent on traditional statistical methods and outdated technology to forecast demand using relevant data and customer insights, which leads to inefficient supply chain management. Incorporating the use of smart technologies and tools in planning the optimal supply chain is the need of the hour. This would ensure sufficient resources in hand to meet urgent or last-minute demands.

 

·         Changing regulatory frameworks

 

The quality compliance, regulatory policies, and export formalities are different across markets and are headed by different authorities, leading to a lack of standardization globally. For dealing with such challenges, there should be specific governing bodies that not only keep a stringent check on quality, but also maintain complete clarity and transparency across manufacturing, packaging practices, and transportation.

 

·         Need for improved supply chain infrastructure

 

The healthcare sector in India has to handle challenges like poor road conditions, ill-equipped seaports and railways, and not fully utilized air transport. Particularly in pharma, the lack of a robust cold chain network has widened the gap in the healthcare supply chain. The current infrastructure makes product visibility and tracking difficult, and companies are not able to get the complete details and assurance on whether the products are stored or transported in required conditions or not.     

 

·         Lack of transparency and visibility

 

The supply chain in healthcare is complex and time-sensitive, as it involves proper measures to be maintained along the entire supply chain process. Any deviation from the measures would cause a threat to the life of patients. But, with multiple stakeholders involved in the supply chain, the visibility and traceability of the cargo becomes difficult to maintain, leading to the loss of cargo or the cargo no longer remains usable. With the help of the latest technologies, such as Artificial Intelligence, Blockchain, and IoT, maintaining communication and transparency is possible along  the entire supply chain. It will also prevent the distribution of counterfeit pharmaceuticals in the market.

India’s pharmaceutical industry is the third-largest in the world in terms of volume and value chain. Safexpress, a leading tech-based logistics service provider, with its multimodal network across India, specializes in express distribution services of medicines and healthcare equipmentthat are time and weather-sensitive. Safexpress is driven by tech-enabled operations that channelize tracking of all shipments to maintain transparency of movement of the cargo across the supply chain. They also provide logistics to deliver samples to medical representatives across India as per the medical representative’s time and convenience.

In Conclusion

The healthcare supply chain is complex and involves various stakeholders in the entire process. A well-run healthcare logistics service would ensure proper communication,so that all supply chain partners and goods reach their point of use in working order and on time. With the healthcare supply chain as one of the biggest areas for savings opportunities, logistics service in this field would require the use of modern technology to enhance the supply network.

 

Source: https://www.reddit.com/user/safexpress1/comments/mukv8f/challenges_faced_by_the_healthcare_logistics/