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 logistics (3PL) provider comes into play. If a series of thunderstorms directly affects your usual route, a reliable 3PL partner would mean that you can continue to serve your clients uninterrupted. It would mean peace of mind knowing you’ve mitigated any supply chain disruptions where you could.
Establishing a partnership with a trustworthy 3PL provider is just one step of the preparedness process. In order to ensure your pharmaceutical company is prepared for any possible supply chain disruptions, you must first begin by addressing your internal operations.
Regularly update and test your contingency plans.
The supply chain is constantly evolving to keep up with global supply and demand. This doesn’t include the recovery period post-pandemic. When you prepare for the unpredictability of the supply chain, you are able to better navigate your pharmaceutical company in times of distress. Regularly updating and testing your contingency plans helps you to not only prepare but to verify that your actions are both cost- and time-efficient as well.
Try doing a test run using a small order to evaluate the effectiveness of your current contingency plan and determine if there are any broken links. From here, you know where you need to tweak your plan in order to successfully deflect a supply chain disruption.
Improve visibility through real-time communication.
How can you create a supply chain with fewer kinks in it? Leverage today’s technology to help you to gain a clearer picture of your end-to-end supply chain and evoke better communication among your team. Being able to visualize the logistics of your products means identifying trends and forecasting potential problems. Supply chain disruptions are flagged beforehand thus allowing you to effectively course-correct and avoid long delays. A sustainable 3PL program supports the most efficient routes and provides a complete look at your products during all stages of transportation.
It allows you to make decisions in real-time based on projections and your preferred timeline which saves you time and money.
Stay one step ahead of your market’s current demand.
Forecasting what products will be in short supply during a supply chain crisis is like trying to pinpoint the exact path of a storm. You can try, but chances are you’ll most likely be off. This is why it is best to closely monitor the trends and consumer behaviors within your individual market. What are your most critical products? How does the season affect your inventory?
Asking questions to assess the health of your inventory can be the difference between retaining or losing a customer. Working with a reliable 3PL partner takes the guesswork out of it and ensures that your pharmaceutical company has all the tools it needs to succeed.
Contact us today to learn about our 3PL services.
