Industry Insights of the Cold Chain Global Forum 2019
The Cold Chain Global Forum 2019 took place in Boston and triggered immensely valuable discussions. For all those who could not participate, we have summarized our insights:
In need of green solutions
A glance at the agenda and the profile report showed that interest in sustainable transport solutions is bigger than ever. Two thirds of all participating pharmaceutical companies are looking for green packaging solutions in the next 6-12 months. A fundamental reason for this trend is the widespread introduction of formal corporate social responsibility policies. These put decision makers under pressure to strike a balance between cost, compliance, and environmental impact. At the same time, the potential business benefits can be enormous. Companies that succeed in making their cold chain operations more environmentally friendly can expect operational cost savings as a result of less waste and reduced fuel, energy, and transport costs.
The right packaging for a resilient supply chain
Peak season lies ahead of us and leads pharmaceutical companies to shape a supply chain resilience strategy focused on sustained performance. Temperature excursions due to extended transit times or uncertain infrastructure capacities (e.g. not enough sockets for active solutions) are typical problems pharmaceutical companies are facing during this time. This requires a packaging solution that minimizes the entire spectrum of supply chain risks – storage, flight, airport ground handling, customs and trucking – and thus prevents cost and revenue disruption impacts due to temperature excursions. Supply chain resilience therefore enables the pharma company to outperform the competition and gain market shares. As Lisa Wyman, Vice President Quality of Acceleron Pharma, puts it, “Supply Chain resilience is a competitive advantage”.
Data-driven risk assessment
Real-time monitoring and tracking are arguably two of the biggest shifts currently taking place in pharma cold chain transportation. But what will fundamentally change the industry is data-driven simulation and risk assessment. The more data is collected the more accurate predictions are. If a data base of real-life conditions is available, processes, routes and lanes of pharma cold chain logistics can be simulated with an unprecedented accuracy. This in turn helps to mitigate risks, optimize processes, reduce the expense of corrective actions, and preserve inventory by maintaining product integrity and thereby allowing immediate product releases.
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