The Annual Pharma Supply Chain and Security World Summit is now online, and this time with more focus on optimizing your supply chain challenges to ensure an agile, responsive, streamlined and secured supply chain in a Global platform. Pharmaceutical companies have to resist the challenges looming from supply chain security lapses to avoid infiltration of counterfeit, diverted, and adulterated drugs entering into the supply chain. Apart from having an end to end visibility and traceability within the supply chain, an effective serialization programs will be a key differentiator and will be a competitive advantage for the pharmaceutical companies. Drug counterfeiting which is not only a global public health risk, but also harm the quality of the product, the integrity of the brand, the economy and even national security. Revenues from the pharma and bio-pharma counterfeit market is estimated to be more than $200 billion. Aligning your anti-counterfeiting strategy with the corporate supply chain strategy should plot a roadmap for implementing anti-counterfeiting measures.
Both industry and governments across the world recognising the importance of implementing product serialization, it becomes obligatory for all entities within the supply chain to comply with federal or state legislations pertaining to the locations in which they operate.