When we mention the topic “traceability”, the term “visibility” comes automatically in our minds
It`s normal because the idea behind the implementation of track & trace systems is to be achieved a real-time view of the supply chain, by which the route of the products could be easily monitored at any time. According to report, “Almost all respondents (99%) in the pharmaceutical industry claimed to be using some sort of manual processes to achieve supply chain visibility.” Moreover, “87% of respondents in the pharmaceutical industry said they do not have 100% visibility into the condition of products in their supply chain during the last mile of delivery.”. Here 360-degree visibility come into action. The process of real-time visibility has much more benefits than the supply chain participants thought at first glance. What do we mean?
Let`s start with the conception of implementing traceability systems, it evolves around one of the biggest global problems – drug counterfeiting. Some of the main reasons for this are package counterfeiting and diluting drugs. The 360-degree visibility address this as gives an opportunity for granular visibility into the supply chain and transparent surveillance. Furthermore, to become better means to be able to fill “the gaps”, develop and predict. Supply chain visibility could help you with accomplishing these processes and achieving your goals. Visibility impacts traceability, risk prediction and auditability, improving the whole performance of the company.
Moving on to the opportunity of different types of analyzes. Thanks to the accurate data, the manufacturer could timely act and predict any issues. As well as the data gives the opportunity for better predictability for quantities, shipments etc. – in other words “inventory visibility”. This, in turn, helps with the reduction of overstocking or undersupply cases.
The visibility impacts not only the Pharmaceuticals. The medical devices industry could be benefited with respect to their management in crisis, demand-supply predictability, and customer service.
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