In addition to identifying counterfeit products and protecting your revenue, traceability data can also be used to track and better manage raw materials, resources, waste, inventory, product recalls and warranty costs.
Be more efficient and maximize performance in every way – far beyond regulatory compliance.
Products are made to be sold. But what happens when a product does not sell, is approaching the end of its life, or has been returned or recalled?
Pharma supply chains must manage what is called reverse-logistics operations. The reverse-service supply chain is very important to pharma stakeholders. Whether you are a pharma manufacturer, a wholesaler, a distributor or a retailer, you will inevitably face a product recall or return.
Product returns can be due to expired or unused products. Retailers and distributors are particularly vulnerable during a return process as they are the link between manufacturers and consumers.
Product recalls are part of the reverse-logistics process. Recalls can be mandatory or voluntary. They can be due to packaging problems, labeling errors or even counterfeiting.
Reducing risk of product recalls due to manufacturing errors and reducing production wastes are part of the ways to improve profit.
Pharma manufacturers are constantly trying to reduce their costs and improve their performance.
The traceability systems and solutions implemented in the pharma supply chain generate a tremendous amount of data at each stakeholder level. Properly recorded, analyzed and interpreted, this data represents a priceless value to these pharma companies. In their quest to improve their performance and operational efficiency, they are looking to gain access to large amounts of actionable data that allows them to make better decisions and pinpoint potential losses.
A combination of digitization (Industry 4.0) and traceability creates full visibility over the entire supply chain throughout the product life cycle.
This means you can track and optimize quality, knowledge, inventory, transport, by-products and more, which helps you:
With the intensification of traceability and transformative innovations enabled by technological advances such as artificial intelligence (AI), blockchain and the Internet of Things (IoT), we now can increase the efficiency of supply chains and secure them completely.
OPTEL’s data-centric systems enable you to lead this AI wave and benefit from cutting-edge solutions built for efficiency, profitability and sustainability.