The pharmaceutical industry loses
$12B
each year due to penalties and material waste
Solutions
Inventory Performance
Operational efficiency has long been challenged by manual processes, siloed systems, poor visibility, and unexpected change. Safety stock and excess capacity act as buffers against volatility but often leads to waste due to expired products, thereby reducing overall profitability.
Today’s supply chains demand richer, real-time data to streamline smarter responses to the actual condition and status of inventory, whether in-house or in your extended network. The ParkourSC supply chain solution monitors product-level location and condition to provide continuous insight into inventory.
Right-Sizing Inventory:
Right Quantity, Right Place, Right Time
Reduce inventory write-offs with location and condition monitoring for spoilage and obsolescence issues
10-20% Improvement in inventory turns
Reduce storage and warehousing costs using real-time asset tracking and supply chain predictions
10-12% Reduction in carrying costs
Reduce transportation spend from rush orders or spot buying with better visibility of the supply chain
6-10% Reduction in manufacturing cycle time
“ParkourSC enables us to do the art of the possible. We are looking to expand into the front end and back end of our processes, giving us complete visibility into our supply chain, so we can understand what conditions our products have moved through, how long they’ve been there, when they’re arriving, and how fast they’re going from one area to the next.”
Ben Davis
Director of Supply Chain, Takeda Shire
ParkourSC Prevents Waste to Improve OTIF Performance
Our survey of 200 pharma manufacturers and distributors revealed that more than a quarter of pharmaceutical firms had experienced damaged, spoiled or lost inventory. Roughly 90% reported said they didn’t have full visibility across the enterprise wide supply chains and didn’t trust the in-transit data they were receiving.
Read our report to learn more about how ParkourSC helps our customers to reduce waste.
Download Report)
A $30B global biopharma firm turned to ParkourSC to capture inventory as it moves through critical stages—in-house and across handoffs originating at donor centers. The material can now be monitored for time out of refrigeration at every step, reducing spoilage, streamlining compliance, and improving inventory turns. They also eliminated manual error-prone processes and are more effectively addressing regulatory requirements. Estimate $8M in savings annually from reduced retesting, spoilage, and administration.
Common Challenges
- High costs of inventory write-offs from spoilage and obsolescence
- High storage and warehousing costs due to slow turns
- Extra transportation spend due to redundant inventory movement at premium freight/spot buying
Use Case Examples
- Manage allocations during supply shortages with fair-share or segmentation based allocation
- Reduce spoilage and obsolescence with end to end product visibility and tracking
- Optimize lot size in your planning horizon
- Improve profitability using trade off analysis
ParkourSC Is the Solution for Inventory Management Software
Effective inventory tracking and performance are crucial to your bottom line. Trust the ParkourSC inventory visibility platform to deliver the insights you need to:
Enhance inventory performance
Manage your supply chain inventory with one centralized source, promptly putting relevant data in the hands of those who need it most.
Prevent inventory waste
Monitor your stock location and integrity across its entire journey with Internet of Things-connected sensors providing complete visibility at thousands of touch points.
Reduce inventory-related costs
Get end-to-end visibility into your inventory status to maximize life spans, transportation spending and storage costs with real-time data for more efficient inventory planning and OTIF performance.
Predictions for 2023 Pharma and Life Science Supply Chains
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