The exponential growth in pharma supply chain complexities has forced leading pharmaceutical companies to rethink their current logistics and distribution processes, shedding light on the pressing need to revamp end-to-end supply chain operations. However, when it comes to revamping logistics operations in the pharma industry, the big question is- ‘Where should one invest to improve pharma logistics optimization and drive change?‘
Though most pharma companies are quite optimistic about the current business climate, there seems to be a rising cognizance of the role pharma logistics optimization plays in tackling current and future challenges. Hence, leading pharma companies are now executing focus initiatives in various fields of logistics, including process planning, distribution, and route optimization.
Having collaborated with Fortune 100 pharma companies, our supply chain analytics experts possess a deep and detailed understanding of the pharma landscape and the challenges facing companies in the current business setting. Based on our interaction with key stakeholders and decision-makers in the pharma industry, we’ve listed a few practical recommendations for improving pharma logistics optimization.
We’ve got the right solutions to address your unique challenges and business needs. Learn more by getting in touch with an analytics expert.
#1 Develop a cohesive approach for improving supply chain security by developing effective category management and supply chain management capabilities
#2 Devise robust logistics management procedures and capabilities, linked to the master deployment plan and the manufacturer through effective supplier relationship management
#3 Design a centralized logistics network to minimize transport time and replenishment rate. To do so, businesses can consider leveraging geographic data and insights from metered installations to manage stocks and conduct periodic audits to eliminate squirrel stocks
#4 Leverage logistics analytics to inform better decision-making around resource allocation and asset optimization
#5 Track and monitor logistics movement in real-time by deploying advanced analytics dashboards. Implementing a robust approach to sort, test, repair and recycle assets will also help you get a step closer to establishing circular supply chains
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Considering the current business scenario, pharma companies can reduce logistics costs by 35% to 40% with the help of logistics optimization solutions. Notably, leading pharma companies have made tremendous strides in reducing costs by automating processes and driving innovation in logistics operations. While these innovations have brought in waves of transformations that have helped reduce costs, their greatest impact can be felt in the area of circular supply chains. Hence, it’s quite evident that pharma logistics optimization not just helps optimize supply chain and logistics processes but plays a key role in reducing costs and driving supply chain efficiency.
Reducing costs without increasing logistics risk can only be achieved by skillfully merging industry-specific analytics frameworks, the right tools, and logistics processes engineered for driving operational effectiveness as well as efficiency. We’ve got the expertise and skills to help you do so, Request a Free proposal now!
Why Choose Quantzig’s Pharma Logistics Optimization Solutions?
At Quantzig, we understand the challenges faced by pharma companies across geographies and to help tackle them we offer end-to-end logistics optimization solutions that help drive efficiency across the value chain. Our unique data-driven approach to logistics network optimization focuses on data modeling and logistics network redesign by optimizing inventory, reducing costs, enhancing customer service, and improving profit margins.
Our comprehensive portfolio of pharma logistics network optimization solutions revolves around transport and logistics management, contingent logistics planning, capacity optimization, and network planning & cost reduction. Through our customized portfolio of pharma logistics optimization solutions, we empower our clients to identify supply chain trends and envision upcoming changes in key supply chain areas including, inventory, warehouse, and transport and logistics that can have a profound effect on the overall business performance. Our solutions not just help reduce costs, balance risks, and redesign routes, but empower pharma companies to strategically design logistics routes and align resources to improve decision-making and achieve business goals.