The Pharma and Medical Aesthetics industries have a lot to gain from end-to-end supply chain management. But this leaves them open to cyber as well as physical attacks…:
[…] Overhaul and Freightwaves have come together to analyze the risks and solutions surrounding pharmaceutical logistics as part of a white paper report, Command and Control for Pharmaceutical Logistics.
Logistical issues such as temperature fluctuations and cargo theft have heightened the need for a unified command-and-control center that can overlay multiple data sources for one analytical tool. Companies that adopt this tool not only have access to a global view of their shipments but also possess a competitive marketplace advantage.
Pharmaceutical supply chains are becoming increasingly complex, and a growing number of exchange points have complicated the path from production to consumption. New modes of transport also make the likelihood of error even greater as bad weather and traffic congestion can result in additional delays.
Delays not only cost time and money, but also leave entire shipments vulnerable to temperature fluctuations. According to the IQVIA Institute for Human Data Science, the biopharma industry loses $35 billion annually due to failures in temperature-controlled logistics. Pharmaceutical Commerce estimates that by 2022, 30 of the top 50 global pharmaceutical products will require cold chain handling, as in-transit control over temperature, humidity, vibration and light become priorities.
Over-the-road (OTR) trucking is still one of the least secure forms of transportation globally, making the movement of high-value pharmaceuticals by truck a risky venture. It is estimated that the average pharmaceutical cargo theft is valued at $121,185. While in-transit cargo theft is a major concern, an extra set of padlocks is no match for invisible attacks in the form of malware and ransomware.