The pharmaceutical industry is in a constant state of flux due to companies adopting supply chain advances that have already seen success in other industries. This is how pharmaceutical manufacturers are remaining competitive on price and delivery. Supply chain spending represents a large portion of cost for pharmaceutical manufacturers – nearly 25%. This equates to approximately $230 billion annually. By adopting these supply chain advances pharmaceutical manufacturers can recognize benefits such as increased revenue, reduced costs and increases in overall profit margin.
By following seven simple steps pharmaceutical manufacturers can improve supply chain efficiency and recognize additional overall revenue. These seven steps include:
- Upgrade Technologies
- Improve Product Traceability
- Implement or Increase Quality Control Processes
- Review Labor Standards
- Review Overall Supply Chain Performance
- Improve Collaboration
- Evolve towards Omni Channel
Implementing a functionally robust WMS will allow you to perform these seven steps much more efficiently than when done manually. This will also ensure reduced manual data errors which can cost your facility precious time and money.
To learn more about how to implement a WMS to make your pharmaceutical supply chain more effective and efficient contact Datex today firstname.lastname@example.org or 800-933-2839 ext 243. Datex is an industry leading supplier of supply chain solutions including WMS, mobile solutions and professional and managed services.