Ever wondered how we are managing to get our medical supplies without any disruption? Well, the answer is Pharmaceutical logistics. As we all know that Covid-19 disruption has put a lot of strain on all the industries but the pharma logistics industry is in rising demand.
The demand for transportation comes from the requirement of medicines, drugs, gloves and Personal Protective Equipment (PPE) kits. According to Grand View Research, Inc the cold chain logistics is expected to grow by 7.3% from 2020 to 2027.
Cold Chain Logistics are utilized to guarantee temperature control, shelf life and quality during transportation, storage and distribution from production line to the point of utilization. The process is complex, challenging and its growing need is encouraging a lot of start ups and existing logistics players to launch this vertical.
The logistics procedure involves multiple handling of the goods and hence the areas of risks need to be understood well to ensure proper handling of the cold chain goods.
Different types of goods such as vaccines, medicines and other drugs involve different methods of transportation. Right from preparing the product for transportation at the shipping point, transportation to shipper location, goods loading physically and transit. The pharma deliveries are vulnerable to spoilage and delays and the errors in transportation can incur huge losses.
The Internet of Things (IoT) is providing visibility to goods in transit, on time data visualization with the help of devices that are self contained. Due to the advanced technologies in temperature controlled packaging cold chain supply chain companies are ensuring the quality and services of temperature-sensitive products.
Here are some key features of using IoT for Cold Chain Logistics
– Monitoring Temperature Control
The implementation of IoT solutions will help businesses to monitor the temperature of the vaccines, drugs and other medical supplies. Sensor technology can be used on all modes of transportation. The sensors gather and share this data in real-time which helps businesses to have control over temperature monitoring processes. In recent years, the IoT technology has advanced with an additional feature of automatically adjusting the temperature of cold storage facilities.
– Access to real time data and automation
The information gathered by the IoT technology can be investigated and shared in real-time. This makes the data visible at real time and organizations can immediately act upon issues or emergencies if anticipated. Eventually this helps businesses to have zero financial losses.
Further the data that is being collected by the IoT devices helps businesses to analyze and improve their process. In addition to real time data access and data automation IoT can monitor and track shipments at real time basis.
IoT technology has its own challenges as it has a large dependence on good internet connectivity. IoT gadgets won’t work productively in an exceptionally clogged electrical or radiofrequency condition. At the same time Cold Chain logistics have its own challenges in terms of moving the shipments from point A to B and hence business cannot ignore the presence of this technology which will eventually lead to huge savings and better services in the long run.
The global cold chain market is estimated to hit USD 447.50 billion by 2025.
The end result is customer delight and this can be achieved if we have sustained best practices being implemented.