It is essential for pharmaceuticals industry to maintain the integrity of its products and a clear visibility of the value chain. Product theft is on the rise – Freight Watch International has released statistics suggesting that drugs account for approximately 15% of the estimated US$8 billion to US$12 billion of annual cargo theft, which amounts to well over US$1 billion annually. Today, between 15% and 20% of pharma stock keeping units (SKUs) are serialized, but in several years’ time more than 65% of the world’s pharmaceutical products will contain a unique serial number
Serialization not only reduces cost to error but drives business value through both supply chain and consumption visibility.
A holistic approach to product tracking and traceability is the need of the hour. Automation can help with the muchneeded seamless interoperability among machines, devices, and business systems. It can help mitigate some of the top challenges like Data/Storage management, cost of serialization, adhering to increased compliance and regulatory requirements while ensuring full traceability. RPA technology has delivered more than 50% cost and efficiency savings in multiple use cases and is increasingly looking at ways to processes between R&D, CROs, CDMOs, and sales and marketing as well as distributors, warehouses, and 3PLs to reduce costs and improve responsiveness.
One of the industry major was struggling with devoting significant resources for management of standards, master data and processes, and achieve compliance. They have a cloud-based track-and-trace platform specifically designed for manufacturers, supply chain operators and retailers, offering them real-time visibility and goods information all the way from production floor, warehouse to retail outlets. They were looking for enhancing platform performance with greater accuracy and reduced cost.
AiRo Digital Labs helped in identifying 15 processes (out of 27) most suited for automation. Some of these includedautomation of supplier management modules, onboarding new customers, product track configuration, serialization configuration, automating transaction history tracking for payment slips, migration of data from itest to production etc.
Intelligent automation solution helps in new customer onboarding. The AI enabled solution works simultaneously on multiples screens for integrating data as per business logics. Manually this process takes about 30-40 mins with a dedicated resource checking multiple web pages and the process is repeated for multiple times during the day. With automation, the process execution time was cut down to 1/3rd of the original time, freeing up the resource to carry higher value tasks.
Another example is product track configuration. This process is meant for providing visibility to dealers and manufactures across the supply chain and ensures the sender and receiver know each other. The process is typically carried out more than 10 times in day and requires utmost accuracy. The cost to error is very high and the organization had observed several cases in the past with wrong information. Automation not only brought accuracy in configurations but also helped in improving transparency in the system.
Through right investment in digital transformation, the organization is now able to provide better visibility of supply chain to pharma companies. They are able to manage their inventory better, preventing shortage or over production.
With more than 15+ modules for automating serialization, AiRo is enabling its client to achieve strategic and financial objectives in today’s competitive environment. The organization is now looking to automate enterprise processes as well for complete digital transformation. Partnering with AiRo, the organization has launched new agile issue management solution empowering supply chain partners to rapidly identify, document and resolve supply chain events.
Headquartered in US, the company is a leader in pharmaceutical track and trace serialization with 500+ manufacturers, distributors, hospitals and pharmacies associated with the platform
AiRo Digital Labs is an award-winning Chicago-headquartered, Digital 2.0 Consulting firm, with expertise in business transformation through digital convergence of Cognitive Automation, Machine Learning, Voice technology and Industrial IoT. We are strategic advisors for digital future in industries such as Healthcare, Pharma and Life Sciences, Manufacturing, Hi-tech and Retail / CPG. With an agile and collaborative approach, we apply digital convergence to enable sustained business advantage across the 4 dimensions of –cost, speed, accuracy and customer experience.
The AiRo Innovation Factory has developed award-winning solutions to solve everyday business challenges.. Learn how AiRo helps clients on their digital transformation journey at www.airodigitallabs.com
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