Logistics are expected to play a significant role in Indian pharma industry

The opportunities from the logistics perspective are very high as most of the pharmacy retail players are approaching the third party logistics service providers to provide them with effective logistics solutions for the smooth functioning of the back-end operations.

Logistics is regarded as a crucial part of the pharmaceutical industry since the activities are highly time sensitive. In addition, pharma products need temperature-controlled storage and distribution

From the cost composition point of view, the major logistics costs in the pharmaceutical industry include packaging, distribution, etc. Transportation of goods and inventory management are concerned areas. SCM has helped pharma companies to enhance their efficiency in managing resources and improving relationships

With the growing competition among major pharmaceutical players in the industry, inventory control plays a significant role in pharma value chain as lots of inventory exists in the supply chain.

For instance, out of stock situation in existing business environment is unacceptable and research and development requires huge investment to bring products to market, when it finally arrives.

The pharma retail segment is a very promising and upcoming segment and since pharma logistics is very important stages of the operations for any pharmaceutical business, pharma companies are ready to spend to improve efficiency of supply chain therefore logistics providers have a great opportunity to cater this market.

A well designed supply chain with robust planning cycles that takes care of the various lead times in the end-to-end supply chain can help achieve speed to market as well as an agile supply chain.

Thus, logistics and SCM are expected to play a significant role in Indian pharma industry and could contribute towards the enhancement of productivity as well as growth of the industry….Read more in detail

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