Why serialization is important for the healthcare supply chain?
The supply chain of the healthcare industry is crucial as the prompt delivery of equipment under the right conditions is critical for timely treatments. An assurance of quality in this regard is of utmost significance in a dynamic regulatory environment. The Healthcare supply chain is a network of resources, distributed across facilities healthcare bodies in different cities and countries. Supply chain resources need to be linked for effective management as suppliers, vendors and customers perform their role in the movement of drugs and surgical equipment.
The need for healthcare Supply chain visibility
The healthcare supply chain operations are complexed and of high velocity. They need a distributed logistic environment with real-time visibility for accurate disposal of products. This visibility helps to adopt a proactive approach to systemize the supply chain operation and track and trace product at unit levels. It improves on-time delivery and before time alert customers about product availability and shipment status.
Drivers affecting Healthcare supply chain
In healthcare, the customers are patients and their health risks are associated with the product they are buying. The change is continuous for demands due to the highly regulated nature of healthcare facilities which creates unique challenges for the supply chain. Managing the supply chain with these changes need a holistic approach for affordability and quality of patient care and maintain the cost structure of healthcare organization.
Benefits of Serialization for healthcare supply chain
1. Track items from the production line to the patient
Serialization at the unit level gives each bottle or box its unique number. An item with this number can be tracked at every stage of the supply chain. The item movement is transparent from the production line to the healthcare body and right through to the patient. This ensures your ownership of the product and provides authenticity to verify the quality of the contents. Any complaint or query regarding patients, medical professionals, or pharmacy staff can be traced right back to the individual box.
2. Regulatory Compliance
The main purpose of the implementation of serialization is to identify the rise of counterfeit products. Many countries across Europe, Asia, America, and Australia are drafting legislation to implement serialization as an obligatory practice for the healthcare supply chain. Failure to meet this requirement means that products cannot be sold into the healthcare market. Pharmaceutical dealers must buy and sell serialized products.
3. Efficient and Profitable supply chain operations
Item-level serialization will ultimately reduce inventory losses and dramatically improve the rate of returns, recalls, and chargebacks. It helps manufacturers to keep track of product movement throughout the supply chain and this coordination of supply chain data helps operate inventory and minimize cost due to product shrinkage or loss.
4. Consumer Safety
Labeling errors have been a huge factor behind healthcare product recalls. The serialization process and validation controls, risk mitigation strategies, and advanced technology practices will help manufacturers to minimize the risk of product recalls. In case you have to recall your product the serial number will help you to respond promptly to situations and identify the location if counterfeit products.
5. Increased Brand Trust
Counterfeit medicines and malfunctioning devices have dire consequences for patient health and safety which in return is a loss of brand reputation and lost faith in the healthcare industry. Serialization will show the concern of healthcare suppliers in the patient's welfare. This will raise the credibility and reliability of the business and gain the brand trust of consumers as well as healthcare suppliers.
ERP Gold offers serialization for healthcare and pharma industries to enjoy all these benefits mentioned above.
Schedule a Demo with our experts to guide you about the serialization integration in your business software for serialized purchase, sale, and return facility