Pharmaceutical Industry Embraces Business Value in Serialization and Track & Trace Solutions

PharmTech Inc., Libertyville, IL, has recently published the results of their annual survey of pharmaceutical industry decision makers "Serialization & Traceability 2011: Where are you now?". End Quote

(1888PressRelease) June 02, 2011 - In a change from years past, the pharmaceutical industry insider survey reveals an acknowledgement that although compliance with upcoming FDA, state and international guidelines is the driver behind pursuing traceability and serialization solutions at this time, many in supply chain and executive management ranks are beginning to identify quantifiable business value benefits in moving forward with these projects.

In an interview regarding the survey, PharmTech Inc. Business Development Executive Michael Stewart indicated why the past indifference to action, "The industry (pharmaceutical) knows that mass serialization and traceability at some level is coming and being driven by patient safety concerns around counterfeits, diversion and theft. Many companies have sat back waiting for more regulatory clarification. The reality is there is much work to do in advance of selecting and implementing any solution and they are now recognizing that. Pre- planning, implementation and piloting can take 2-5 years and unfortunately for many manufacturers California's e-pedigree and serialization requirements begin in January 2015. The clock is ticking."

Additional findings within the survey linked Brand Protection and Recall Management as the two biggest benefits of serialization to improving supply chain visibility as well as having real time actionable data for continuous supply chain improvement.

A 10 page Executive Summary of the survey is available by contacting PharmTech at 847-281-8924 or email mstewart ( @ ) pharmtechinc dot com.

###

space

Other Related Press Releases