UPS published its seventh Pain in the Chain survey last month, which revealed a correlation between a risk-informed approach and the rewards of global success.
The survey polled 530 senior-level supply chain decision makers in the healthcare industry from the United States, Canada, Western Europe, Asia, and Latin America.
Regulatory compliance, for the third consecutive year, remained the top concern cited by 60% of respondents, with changes, legislative uncertainty, and a lack of clarity in regulations being the main factors contributing to compliance levels that were less effective than desired.
Nearly half of respondents cited product protection and security as being increasingly challenging in a highly global marketplace, namely, sophistication of counterfeiting, poor supply-chain visibility and too many supply-chain handoffs and inadequate enforcement as the main challenges.
Product damage and spoilage was a pressing issue cited by 40% respondents, with main concerns over adverse weather/temperature environment, carrier service delays/damage, customs/brokerage delays, and an increase in the number of temperature-sensitive product shipments.
Successful strategies, shared by the respondents, to address these issues included– hiring regulatory consultants, partnering with local native distribution firms and multinational distribution firms. For global success respondents placed investing in new technologies as the top strategy to increase efficiencies and competitiveness, such as – order management systems, track and trace technologies and security technologies for high-value shipments.
Such news highlights the challenges faced by pharmaceuticals in emerging markets, and the importance of the selecting the right partners.
How do you select the right supply partners in a complex and highly fragmented market environment? How do you manage quality, product safety and delivery risks? How do you ensure your IP is appropriately protected?
These are all questions we are asked by manufacturers.
As a renowned supplier of commercial pharmaceutical products, Client-Pharma specialises in developing bespoke supply solutions for customers around the globe, providing patients in traditionally hard-to-service geographies with consistent access to the medical supplies they need to treat a wide range of conditions. With some countries focusing on importing supplies while others set up their own local manufacturing and supply chains.
By ensuring we leverage our contacts across both local and international markets, we are confident we can bring the very best treatments to patients around the world, securely and at a price that ensures they remain accessible to as many patients as possible.
For further information about our products and secure supply chain networks, why not take a look around our website or contact us for further information.