Supply Chain Management
Supply chains in a range of industries, including pharma, are becoming digitised. New research forecasts that over the next eight years, the value of the global connected logistics market will surge from US$10.21bn to US$55.17bn. Connected logistics incorporates sensors that provide real-time information on road conditions, weather and shipping lane traffic when connected to internal and external data feed. This sort of insight is required by pharma manufacturers to protect a drug’s chain of custody. This technology develops the collaboration between the supply chain’s various stakeholders (warehouse managers, product quality managers, operations logistics providers) all working to reduce the chance of temperature excursions. These devices and software of course require significant investment. For the next stage of lane mapping and continuous monitoring to be reached some experts believe that severe losses will have to be felt on shipments – through theft or temperature excursions rendering products unusable – for companies to realise how much they actually need to implement this technology.