Third Party Logistics Providers in the pharmaceutical industry do just that; they specialize in providing logistics services - namely transportation, storage, and security – to drug manufacturers, retailers, and healthcare providers. Oftentimes, these types of companies are employed when companies have products or services that require special attention - for example, medicines that require temperature control. 3PLs are a vital stakeholder in the drug supply chain given that they make up a majority of the logistics infrastructure, not to mention they are the ones who actually take the drugs where the drug companies (and consumers) want them to go.
Because 3PLs generally interact with more supply partners than most other stakeholders in the pharmaceutical supply chain, interoperability and visibility become even more essential. One of the biggest challenges in third party logistics is the IT integration capability of inventory management systems. Supply partners do not operate in a vacuum, and so their software must be flexible enough to handle the various labeling and sensor systems, as well as adapt to future technologies. At the same time, security is more important than ever, so companies are looking for solutions that also provide better and better data security. Additionally, many pharmaceutical 3PLs are global organizations, and as such have to consider the general trend towards increasing regulation in the pharmaceutical sector.
Using FarmaTrust’s Zoi Platform, 3PLs will have more visibility, flexibility, and security than ever before. The Real Time Tracking Map combined with the Transaction History and Chronological View will provide an intuitive look at the the supply network to give companies more control over their operations. The platform’s sensor neutral and future proof characteristics will allow companies to transact seamlessly with all of their supply partners, regardless of their tracking and labelling requirements. Additionally, the secure User Access Management features of the Zoi platform ensure the security and integrity of the data stored within inventory and resource management systems. Companies can share mutually beneficial logistics information to improve operations, while maintaining control of sensitive and proprietary data. The FarmaTrust solution was built with the increasingly complex global supply chain and shifting regulatory landscape in mind, and is perfectly suited to revolutionize the way pharmaceutical logistics providers do business.
For a specific example of how FarmaTrust would improve visibility, security, and interoperability for 3PLs, see the Case Study below.
Company: Rx Solutions
Persona: Joel, VP of Third Party Logistics (Fictional Scenario, Company, and People for Demo Purposes)
Joel is the VP of Third Party Logistics for Rx Solutions, a global pharmaceutical services provider of a wide range of transportation, distribution, and storage services to the pharmaceutical and healthcare sectors. The Third Party Logistics Division acts as an extension to the operations of Pharmaceuticals, providing efficient logistics services that can be adjusted to the specific needs of the company or a particular product.
Joel has been experiencing a lack of visibility in his division’s operations, which has led to untimely stockouts, spoiled product, and costly expedited shipments. This is especially damaging to their Temperature-Controlled logistics operations, where errors and miscalculations quickly become expensive. To make matters worse, the impending regulations in the EU and USA - the FMD and DSCSA - could exacerbate their current predicament with increased track and trace requirements. Joel needs to assure senior management that Rx Solutions will be able to provide full, in-compliance services to their US and EU clients.
To address both problems, Visibility and Regulatory Reporting, a single solution can be found in FarmaTrust’s Zoi Platform. Not only will it provide a new level of visibility backed by blockchain technology, it is also the perfect tool for complying with the upcoming regulations for the pharma industry.
For the first time, Rx Solutions will be able to provide full track-and-trace data to their Pharma clients at the individual product level, as opposed to the batch or lot level, as required by FMD and DSCSA
The Tracking Map will provide Rx Solutions and their clients with a near-real time, full picture of their supply chains that is, importantly, backed up by distributed ledger technology, meaning accurate and immutable
Rx Solutions will be able to assure its clients with temperature-controlled products that their journey was as intended, the chain-of-custody secure and the temperature parameters reported against.
The FarmaTrust solution will allow Rx Solutions to meet the needs of all their clients, as the Zoi platform is able to integrate with any and all software, sensor, and printing/labelling systems
Rx Solutions will be able to utilize Smart Contracts in their operations to automate processes and create faster and more accurate signals