You’ve probably noticed how competitive the pharma industry has become over the last few years. In most recent years, there have been more counterfeit drugs, increasingly strict regulations on quality and serialized mandates. All of these factors have made it necessary for the pharmaceutical supply chain to be efficient, as well as traceable. Here are five best practices that should be implemented to ensure there is no breakdown.

Connect and Collaborate

To ensure efficiency, accuracy and quality, you need a digital network that connects all the partners. Collaboration along the pharmaceutical supply chain allows everyone to work together and for all actions to be in sync. The biggest benefit of this level of collaboration is visibility from end-to-end and being able to discuss various transactions.

Detailed Analysis of Processes

When handling pharma products, even a slight alteration can change the composition and could be life-threatening. Products must be precise and repeatable. The manufacturing process needs to undergo detailed analysis.

Traceability from End-to-End

Being able to trace a product from end-to-end along the pharmaceutical supply chain is imperative. This ensures product quality as it passes through the stages of production. By connecting all the partners, you’ll be able to track critical information allowing you to control the end quality.

Respond to Supply and Demand Changes

There are constant changes when it comes to supply and demand. Good management means being able to detect and respond to them in a timely manner. When you participate in a business network, it can mean being able to evaluate this type of information in real-time and provide an immediate response.

Inventory Visibility

Having downstream inventory visibility helps allocate transportation, warehousing and other good shipping practices. This is important to ensuring pharma products reach their destination without compromising quality.

Would you like more ideas on how you can improve your pharmaceutical supply chain? Visit the Business Name website to speak with a professional.

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Retailers have to be aware of where things are when it comes to supply chains so they can plan accordingly. They may need to redirect shipments, rebalance inventory, or respond to a new demand quickly. If there are issues with a supply chain, then retailers can’t get products to stores and there is a risk of losing customers. Here are four steps retailers can take to improve retail supply chain management so operations run smoothly.

Implement Cloud-Based Software to Track Inventory

No one argues about how difficult it is to align supply and demand. Failing to master effective retail supply chain management can quickly impact margins and sales. One solution is using cloud technology to track inventories and changes in demand. This allows retailers to respond to market signals in real time and adapt to seasonal trends and market fluctuations.

Tag Inventory Using RFID

Retailers can Improve the supply chain process by tracking products from the manufacturer to the point-of-purchase with a tagging system. Source tagging is beneficial for helping manage merchandise across various channels. Keeping up with inventory management and supply chain operations at different levels means making informed business decisions.

Join a B2B e-procurement Network

Networks can be beneficial when predicting disruptions to supply chains. It can mean being able to act faster when adapting business processes. B2B e-procurement networks can be advantageous for retailers who want to move from responding to risks to being proactive in predicting supply chain disruptions. Networking creates a more efficient buyer-supplier collaboration.

Ensure Marketing and Supply Chain Teams are in Sync

Rightly aligning marketing teams with supply chain teams is crucial for a successful promotion. Marketing teams can alert supply teams before a big promotion and help determine how much product is necessary. This helps ensure it is on hand. Collaborative retail supply chain management can minimize and even avoid delays and disruptions.

Are you a retailer needing help with supply chain management? Visit the Business Name website for more information.

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For any businesses selling a good or a service, knowing what the future holds has always been a goal. In the past, particularly before the use of specialized software systems, planning in advance has largely been a factor of past sales data review combined with a reasonable expectation as to future demand.

Today, with software programs that can offer global analysis through to specific location analysis as to the demand for a good or a service, businesses have the ability to access recommendations or forecasts that are based on both historical data as well as current market trends based on the prescribed location or macro level data requirements.

This is only possible through the use of “big data.” These systems are able to take in massive numbers of data points about any given set of parameters to provide demand management solutions for a business.

The Process

With top demand management software, the focus is on using as much relevant data as is available to make the demand forecast that is specific to both the consumer trends as well as the marketing and sales of the company. Obviously, a company that is not involved in marketing and branding is not going to realize the same potential in sales as a company that is.

These programs look at the complete organization. This includes providing information on more than just the consumer demand. It will also include information on the supply chain needed to create the production to meet the demand as well as the ability to procure the necessary raw materials to meet production needs.

In this way, the model becomes completely unique to the specific business. This is often integrated into the current supply chain management software to provide the necessary data and the customized results that are based on the individual companies past, present and future performance.

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