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Fine-Tuning the U.S. Pharmaceutical Supply Chain

Fine-Tuning the U.S. Pharmaceutical Supply Chain

Fine-Tuning the U.S. Pharmaceutical Supply Chain

  • 14-Sep-2022 3:39 PM
  • Journalist: Gabreilla Figueroa

Despite their best efforts to adapt immediately, numerous healthcare systems and pharmaceutical companies soon ran out of crucial medications and supplies when the COVID-19 epidemic started. This shortfall has brought to light the significance of a strategic, high-performing supply chain, together with uncertain patient loads and, more recently, growing inflation in the United States. Health institutions are looking for ways to increase financial accountability and generate bottom-line savings in response to the pandemic-induced financial issues, and impending economic slowdown, among other stressors. 

The covid pandemic's ongoing effects are especially noticeable in the pharmaceutical and life sciences logistics industry since the products are essential for both life and health. Many products are also perishable, subject to strict regulations, and necessitate sterile, temperature-controlled settings. Additionally, pharmaceutical businesses are now well aware of this issue because of soaring freight costs. Since freight expenses formerly comprised a minor portion of the cost of pharmaceutical goods, this represents a shift.

As per the statistics given by the U.S Food and Drug Administration (FDA), the total volume of drug imports, including Paracetamol, Orlistate, Rabeprazole, Ibuprofen, Azithromycin, and others into the United States in 2021 was worth $93.6. At the same time, the registered facilities for Human drugs were evaluated around 6,799 domestically. The pharmaceutical market in the U.S. is continuously being driven by the rising demand for over-the-counter drugs and supplements, as well as the rising global production of COVID-19 vaccines.

The causes that contributed to the most recent disruptions are impacting the solutions that businesses are using in an effort to boost their supply chains. Enhancing an organization's supply chain's agility and responsiveness is another area where the recent upheavals have increased attention. More pharmaceutical supply chains are starting to move away from using spreadsheets. As they proceed, pharmaceutical businesses invest in the equipment and education required to manage risks and compliance more skillfully. These investments include more effective real-time tracking and inventory management systems and better risk management for their upstream supply base, which extends beyond their immediate suppliers.

These investments also serve as a strategy for managing a tight labor market. Government regulations that support increased onshore manufacture of essential pharmaceuticals are partially to blame for this, as Reducing reliance on China, a significant manufacturer, is the aim. This drive is also motivated by concerns about costs and a desire to strengthen domestic production capacities and increase supply chain resilience.

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