India is the largest provider of generic drugs and ranks third in terms of pharmaceutical production by volume. The domestic pharmaceutical industry includes a network of drug companies and manufacturing units. With India’s domestic pharmaceutical market estimated at US$ 42 billion in 2021 and likely to reach US$ 65 billion by 2024, pharma logistics play an important role in ensuring safe and timely supply chain management. Pharma logistics company in India needs to provide traceable, secure, and compliant supply chains with end to end visibility to the pharma industry. The growth of the market for pharma logistics is also attributed to the increasing demand for Over-The-Counter (OTC) medicines such as vitamins, minerals, supplements, drugs, and other medicinal products.
Outsourcing has been a popular way for pharma companies to enhance their operational efficiencies, expand their geographical presence, and increase diagnostic expertise and on-demand services. Pharma logistics management plays a very important role to ensure medical supplies are always adequate and wastage can be avoided. The pharmaceutical manufacturing companies are increasingly outsourcing logistics management to healthcare logistics company due to which pharma companies can utilize state-of-the-art technologies such as telematics and remote monitoring to provide safety and convenience during transportation operations.
Pharmaceuticals are invaluable, often expensive, and sometimes lifesaving products, so the pharma logistics services are tremendously important. These products need to get to their destination, and they need to get there quickly and safely.
Safexpress, a leading tech-based logistics service provider with its multimodal network across India are well equipped for the unique requirements of the pharmaceutical industry. A wide range of services that include storage, reverse logistics, advanced tracking, and tracing technologies ensure complete supply chain visibility and reporting. With advanced planning, innovative strategies, and a professional team, Safexpress pharma logistics solutions are designed to adhere to standard quality norms and regulations to facilitate the smooth and efficient shipping of cargo.
Few benefits of outsourcing to a pharma logistics company in India are:
· Transparency and visibility
The supply chain in healthcare is complex and time-sensitive as it involves proper measures to be maintained along the entire supply chain process. As multiple stakeholders are involved in the supply chain, the visibility and traceability of the cargo becomes difficult to maintain leading to loss and damage of cargo. With the help of the latest technologies communication and transparency along the entire supply chain ensures proper control over the movement of products. It also helps to prevent the distribution of counterfeit pharmaceuticals in the market. Logistics monitoring at every stage of the supply chain provides visibility and services can be tailored to meet the complex needs of the healthcare market.
· Warehouse management
With the pharmaceutical market growing, the need for proper warehouse management is very essential to avoid counterfeiting, maintain proper stock management and avoid wastage of products. The pharmaceutical industry relies heavily on logistics services for this task.
· Adhering quickly to new legislation and regulations
With regulations constantly changing and different in other countries, it can be very difficult for any company to keep track of the same. Healthcare logistics company would be able to guide pharma companies regarding the safety and packaging requirements to follow to maintain the environmental and policy regulations set by the governments.
The technology that can be used to track pharma shipments is ever-changing and pharma logistics company in India can help pharma companies to monitor shipments, recognize if a problem is taking place, and be able to intercede quickly to thwart potential threats.
Source : https://3pllogisticscompany.blogspot.com/2021/07/growing-demand-of-pharma-l