The medical industry is fast-paced and ever-changing, with new innovations and challenges appearing every day. To keep up with these changes and provide the best possible care for their patients, hospitals and pharmacies need reliable access to a wide variety of pharmaceuticals. In a time of supply chain issues and shortages, wholesale pharmaceutical suppliers [...]
Did you know that you can easily achieve short and long-term business goals for your pharmaceutical company with an efficient month-end close process? That’s right. Streamlining common month-end procedures, such as reviewing and reconciling supply chain discrepancies, sets your team up for success. A pharmaceutical month-end close process includes: Accounts receivable and accounts [...]
When it comes to inventory management, product rotation should be a top priority for your small niche pharmaceutical company. A solid strategy can help you to maximize your budget and support year-over-year (YoY) fiscal growth. How you manage inventory ultimately will affect your bottom line. A good inventory management strategy will: Ensure your [...]
Improving supply chain visibility is key to any thriving industry. This is especially true in the pharmaceutical industry and healthcare in general. With advancements in technology and AI, providing additional transparency also equates to providing better healthcare. Gone are the days of handwritten ledgers for tagging shipments or manually tracking expiration dates and [...]
In the medical field, adequate inventory tracking can make a huge difference. A lack of supply puts patients’ lives at risk. An overwhelming amount of prescription drugs on hand increases the odds of unused, expired products and directly affects the bottom line. Inventory tracking needs consistency. Pharmaceutical inventory management Keeping [...]
Inflation puts extra strain on the pharmaceutical supply chain by causing delays in shipments and increasing transportation costs. This leaves small niche pharmaceutical companies in a tough position and forces many to reassess their business budget and expenses. They must find a way to improve operations while saving on costs in order to [...]
Patient care is reliant on an adaptive supply chain—healthcare’s backbone. A patient undergoing treatment needs a consistent supply of certain drugs. An elderly patient with physical restraints needs access to mobility aids such as walkers, wheelchairs, and rollators. An injured party rushed into the emergency room (ER) needs life-saving drugs and medical equipment [...]
The start of an above-average hurricane season presents new stressors for the pharmaceutical global supply chain. This in addition to the high consumer demand, labor shortages, and scarcity of raw materials, 2022 is already proving to be a year full of logistic obstacles. Hurricanes are just one of the severe weather threats to [...]
Acting as a vital link in the pharmaceutical supply chain, wholesale distributors ship essential products from manufacturers to pharmacies and other healthcare providers. They manage unique inventory demands to ensure that life-saving drugs are readily available for the patients who need them. The Pharmaceutical Supply Chain at a Glance Complex [...]
Severe weather, geopolitical tensions, and global pandemics—supply chain disruptions are inevitable. We have no control over when and where they take place. There’s no set schedule or guarantee that they’ll occur. We are only left with the option to prepare for the possibility. Here’s where having a solid contingency plan and pharmaceutical third-party [...]
In case of supply emergency, healthcare providers know who to call for unsurpassed performance.
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