The pharmaceutical industry continues to rise with each passing year, as more and more people are turning to drugs for a variety of illnesses and ailments. In fact, according to a study, the pharmaceutical industry market will cross $1.5 trillion by 2023 and will grow at CAGR of 3 to 6 % over the next 5 years. This spectacular growth has given rise to the need for experienced 3PL providers for pharmaceutical logistics who are capable of handling the unique challenges arises during pharmaceutical logistics.
The Pharmaceutical Supply Chain
The pharmaceutical industry brings with it stringent demands and unique challenges in terms of pharmaceutical logistics. At the same time, the stakes are significantly higher in the pharmaceutical supply chains. Generally, during pharmaceutical logistics, ensuring compatibility with health and safety guidelines and regulations are the top priority. This creates several challenges such as ensuring product integrity and tracking the temperature.
As a result, it becomes vital to select the right logistics company when it comes to pharmaceutical logistics. After all, you will not want your products to run afoul of the strict government guidelines. The 3PL provider should ensure that your products are delivered in the perfect condition during pharmaceutical logistics.
Guidelines for selecting a 3PL provider for handling pharmaceutical logistics:
The Temperature Aspect
Most pharmaceuticals and medicines need to be stored at the right temperature or they might lose their potency and effectiveness.
- Ask the warehouse 3PL service provider to maintain detailed logs on the temperature at which the products are stored. Make sure that these logs are available to you whenever you want them.
- Find out how the company will ensure temperature control in case the existing heating or cooling system fails. They should have a viable backup plan and a system in place.
- Ask them and find out how they monitor the containers and the trailers, especially during the transportation.
The Inventory Aspect
Managing inventory is vital in the pharmaceutical industry and it should be taken care of during pharmaceutical logistics. A delay of a day can affect patients considerably as it can mean surviving one more day without the right medications.
- There are 3PL providers that offer packing services in addition to their core business. However, it is essential to ensure that you choose a provider with experience in the different packing principles as applied to the pharmaceutical industry.
- Of course, you will be getting access to a warehouse management system. However, you must ensure that the system is robust and capable of displaying all vital details of your shipments such as dates and product codes.
- Check out the various features of the warehouse management system to ensure that it satisfies your requirements.
Check the Warehouse
You should take some time out to visit the warehouse offered by the 3PL provider and check it thoroughly.
- See how well the warehouse is maintained. It should be clean and sanitary.
- Examine the storage facilities. Doors should be properly sealed and the containers maintained regularly.
Pharmaceutical logistics is certainly difficult. It requires considerable expertise and experience on the part of the 3PL provider to ensure that the supply chain is free from bottlenecks. Working with experienced 3PL companies in India such as 20Cube is the only way to ensure that your operations are compliant and profitable.