Technology
Pharmaceutical Industry Focuses on Supply Chain and Logistics Visibility Technology
Published on Thursday, 29th May 2025, this article highlights the growing focus of the pharmaceutical industry on supply chain and logistics visibility technology. As the industry grapples with a $35 billion challenge related to supply chain operations, the integration of advanced technologies is seen as a pivotal step towards optimization.
Context and Industry Insights
The pharmaceutical industry, known for its conservative nature and regulatory hurdles, has been a late adopter of new technologies in supply chain and logistics. However, recent advancements and the necessity to address operational inefficiencies have prompted a shift. The integration of technologies such as artificial intelligence, cloud systems, and data management is now at the forefront of supply chain optimization efforts.
Key players in the pharmaceutical sector, including Gilead, Merck Inc, Teva, Roche, Pfizer, Novo Nordisk, Novartis, GlaxoSmithKline, Bristol-Myers Squibb, AstraZeneca, and AbbVie, are actively investing in supply chain visibility solutions. The aim is to enhance the tracking and monitoring of product conditions and movements, which is crucial for reducing spoilage and waste, particularly in the cold chain where temperature variations can lead to significant revenue losses.
Technology Adoption and Implementation
Tive, a leader in supply chain and logistics visibility technology, is spearheading efforts with its real-time tracking solutions. Tive's cloud platform, patented sensor technology, and 24/7 monitoring services are designed to minimize excursions and delays, thereby reducing rejected loads, theft, damage, and spoilage. Their recently announced Solo Pro tracker, specifically validated for biologics and pharmaceutical shipments, has been well-received for its ability to streamline product releases, achieve compliance, and protect product integrity.
Tive's IoT devices capture real-time data on temperature, humidity, shock, light, tilt, and geolocation, providing comprehensive monitoring capabilities. With device approval on over 170 air carriers and global connectivity agreements, Tive ensures reliable global IoT device connectivity. Their solution also includes a reverse logistics program, the Tive Green Program, aimed at optimizing shipment processes.
Market and Industry Events
Various industry events and platforms continue to provide valuable insights into supply chain and logistics technology within the pharmaceutical sector. Events such as JP Morgan, LSX Investech, Anthropy, and others have consistently covered related topics. Additionally, platforms like Veeva offer extensive content, including webinars, whitepapers, and videos, focusing on supply chain visibility and optimization.
Moreover, with the rise of biosimilars in the healthcare industry, supply chain technology plays a crucial role in managing cost efficiencies. As companies like MSD and Daiichi Sankyo face setbacks, the importance of robust supply chain solutions becomes even more evident.
Future Challenges and Opportunities
As the industry continues to evolve, the challenges of maintaining efficient and transparent supply chains persist. Shippers and logistics providers anticipate ongoing challenges, with a shift towards technology as a solution to human talent shortages. The 27th Third-Party Logistics Study, developed by NTT Data Services, Penske Logistics, and supply chain professor C. John Langley, underscores the significance of technology in optimizing operations and enhancing real-time visibility.
Environmental, Social, and Governance (ESG) practices also play a vital role in shaping the future of supply chains. With regulatory mandates driving ESG efforts, companies are increasingly focusing on consumer trends, environmental impacts, and social responsibility.
"Improving global access to life-changing therapeutics is a focus in the supply chain logistics," industry experts note, highlighting the strategic importance of these technologies in the broader context of healthcare.
As we look towards the future, the pharmaceutical industry’s embrace of supply chain and logistics visibility technology marks a significant step towards overcoming longstanding challenges and optimizing operations for better patient outcomes.