+1-877-297-7816

Pharmaceutical supply chain

AI can enable unprecedented visibility into pharmaceutical supply chains. 

Challenge

Pharmaceutical companies face challenges with supply chains due to increasing complexity and a lack of end-to-end visibility into inventory and operations. To improve patient safety and control costs, they need solutions that help them better understand use and demand data, track supply and streamline operations. Pharmaceutical suppliers need to:

  • Track drug expiration and use locations, as well as prevent theft
  • Use unit-level identification to prevent stock outs, counterfeit, fraud and waste
  • Control lost revenue due to expiration and unit-level drug use
  • Gain insights about use and demand fluctuations, and increase operational flexibility to accommodate the delivery of new, innovative products
  • Integrate secure, compliant and cost-effective operational and technology solutions 

 

Solution 

Verizon 5G and mobile edge computing (MEC) solutions provide pharmaceutical and pharma supply chain providers end-to-end technology that enables near real-time visibility and insights into the supply chain. The solution can help:

  • Connect and provide better visibility into complex, highly granular supply chains
  • Enable a current, end-to-end view across supply chains, as well as demand and use data
  • Reduce lost revenue due to expiration, unit-level drug use and potential  regulatory noncompliance
  • Prevent counterfeit, fraud repackaging and theft with improved identification technology
  • Integrate reporting, data analytics and predictive analytics services
  • Incorporate technology like sensors, mobility, 5G, analytics and artificial intelligence (AI)

Benefits

5G Ultra Wideband and MEC solutions can enable near real-time business processes that take advantage of actions and events the moment they occur. This can help pharmaceutical providers improve inventory management, demand and use evaluation, patient safety and cost control. Additional benefits include:

  • Improve patient safety by confirming the availability and legitimacy of medications
  • Reduce waste by improving logistics and unit-level monitoring
  • React in near real-time to demand and operational changes
  • Improve transparency, efficiency and cost-effective operations
  • Track drugs on a per-unit level by improving the use of devices that collect data

Supporting Stats
 

  • Global pharma track-and-trace market is expected to reach $2.38B by end of 2023 (compound annual growth rate of 18.9%) 1

1 https://www.medicinenet.com/script/main/art.asp?articlekey=170028

 

For discussion only. Verizon makes no representation that it can or will provide the proposed product/service/functionality depicted here at any specific time in the future or at all.