Adapt Ideations - Australia

Find out why data is important in the pharmaceutical industry and how temperature loggers can help. Learn more about data and temperature data loggers by reading more about it here.

Discover how technology is transforming pharmaceutical logistics and optimising supply chain management. Read this blog to learn about the latest innovations in the industry.

Managing risk in the pharmaceutical supply chain is crucial. The pharmaceutical industry is growing rapidly, and as the most current data for 2022 has demonstrated, it has now surpassed the $1.48 trillion mark in revenue . The World Health Organization (WHO) estimates that about 10% of medicines in low- and middle-income nations are substandard or faked. With such growth comes an increased danger in the pharmaceutical supply chain. In addition, the complexity of the supply chain also grows along with the demand for medicinal products. This is the reason why implementing best practices for managing risk in the pharmaceutical supply chain is crucial. If we begin looking at the processes, we can implement to mitigate this risk, the list will start with streamlining and digitising all of the processes involved in the pharmaceutical supply chain. After that, inventory management and supporting software solutions such as temperature and humidity monitoring can be implemented. The list goes on but let's understand at the core what does a pharmaceutical supply chain comprise of.

Temperature data loggers can be helpful in reducing the risks associated with transportation and assisting companies globally with understanding conditions that products are exposed to allowing a more proactive approach to be developed.

IoT technology has the potential to transform this complex web of processes, making it more efficient, cost-effective, and transparent. In this blog post, we will explore the impact of IoT on the greater supply chain.