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 thrive during this time of inflation.
Small niche pharmaceutical companies should first assess their individual supply chain pipeline and take note of any inefficiencies. Where can you improve? Are there often delays? This will help mitigate any negative economic effects inflation might have on a business’s operations.
The role of pharmaceutical wholesale distributors
Pharmaceutical wholesale distributors play a key function in the global supply chain. They are tasked with making the distribution of pharmaceutical drugs more efficient while maintaining affordable costs. Wholesale distributors connect close to 60,000 U.S. pharmacies and outpatient facilities in the healthcare industry. This allows manufacturers to dispatch critical life-saving drugs in bulk, facilitating cost savings department-wide from labor to transportation.
Wholesale distributors support a small niche market by providing:
- Specialty drug distribution
- Pharmaceutical repackaging
- Electronic orders and tracking
- Specialty pharmacy services
- Drug product buy-back programs
- Reimbursement support
They help small pharma companies avoid supply chain disruptions by providing logistic solutions and contingency plans—both key to surviving today’s inflation.
Real-time logistics solutions
In the wake of these rising inflation and delays, it’s easy for clients across the healthcare industry to become frustrated. We understand. Your customers depend on these medical supplies and there should not be excessive wait times. It’s important to understand that pharmaceutical wholesale distributors are working as hard as possible to mitigate supply chain disruption.