Ever since the introduction of product serialization in pharma and DSCSA compliance laws, the healthcare supply chain has been seeing brighter days. Manufacturers, repackagers, and wholesale distributors can now verify all the products they sell and receive, and guarantee there are no counterfeit drugs on the market.
But how are they able to do that? How can they track and trace all the products in the pharmaceutical supply chain? Read on to find out.
What Exactly Is Track and Trace Pharma?
Track and trace pharma (T&T) is a new solution in the pharmaceutical industry that enables manufacturers, repackagers and wholesale distributors to fully track and trace pharma products throughout the entire pharmaceutical supply chain.
With the help of proper traceability platforms based on blockchain technology, they can keep track of all the products at the individual unit level. That way, the industry can make sure that they sell only legitimate products.
This is due to product serialization, which is the process of assigning unique 2D codes to each product at the individual unit level. All the codes are stored in an open-source blockchain-based repository available to everyone in the supply chain.
Those traceability platforms help them verify every product and instantly identify any potential counterfeit drug. This is a truly revolutionary solution that will significantly improve order fulfillment, and transform the entire healthcare supply chain.
Why Is Order Fulfillment So Important?
Imperfect order fulfillment leads to the loss of revenues. It can even lead to a damaged reputation. This is simply because delayed or incomplete orders negatively affect customer experience.
Suppliers who delay their orders can even face hefty fines from retailers who distribute the orders. If you don’t want to face high penalties or risk losing a lot of your customers, you need to make sure you always fulfill your orders perfectly.
Track and trace pharma solutions have an advantage here. They provide end-to-end visibility of the entire pharmaceutical supply chain, thus enabling traceability of ordered products. Retailers can proactively monitor goods in real time (the locations of their orders and how they are being processed), and make sure there are no discrepancies or failed transactions.
This kind of proactive monitoring enables predictive visibility, which helps satisfy all customers. It makes the ordering process a lot smoother, shortens order-to-delivery cycles, reduces out-of-stock rates, and helps increase revenue.
Track and trace pharma, together with product serialization, can truly drive business value. By increasing supply chain visibility and enabling real-time monitoring of the operations in the pharmaceutical supply chain, it helps optimize inventory, recalls and returns, perfectly fulfill orders, increase revenues, and improve brand loyalty.
Are you looking for a great track and trace pharma solution for a safe supply chain? You’ve come to the right place! rfxcel offers a reliable and scalable track and trace software that can help you meet all the DSCSA compliance requirements and reach true excellence and high revenues.
Contact us today to find out how we can create an effective solution for your unique traceability needs.