Question

Select one of the 3PLs that has a pharmaceutical focus. Write a detailed summary that describes the services provided by the 3PL specifically tailored to the pharmaceutical industry to meet the issues and challenges.

Answer 1

3PL for Pharmaceuticals

Over the previous years, the Pharmaceuticals market has experienced an increase in its volume all around the globe. As in most fiscal businesses, Pharmaceutical industry is also undergoing a shift in its geographical change as well sales market. Pharmaceutical business and logistics go hand in hand based on the two greatest components be security and visibility (in the tracking process). Be it small or large company partnering with a 3PL can help in building up their transmission capacity, for managing movement of fresh launches, or special products.

Validation of logistics is intended to guarantee the reduction of danger from internal factors most of which are uncontrollable. 3PLs or Third-party logistics services have become a consistent and efficient partner in the supply chain process for Pharmaceuticals (health care). Services provided by 3PLs are – [1] Transportation management [2] Warehousing [3] Inventory Management [4] Freight Consolidation (Cargo).

[1] Transportation – It is the primary service provided by 3PL businesses, typically through trucking which is intended to optimize the path. Specialized in between locations. It also reduces the transport expenses by increasing driving efficiencies and creating alternatives to the complicated problem of the supply chain. Such as cold chain trucks (storage in cold temperature) [2] Warehousing – It stores, ships and handles returns. Geographically close to customers, it provides customer expected delivery. It also formulates a transparent pricing model. It provides high-quality services, flexibility, and liability. [3] Inventory Management – It stores and monitor inventories effectively and provides facilities like high-quality product storage. It also provides real-time data of inventory [4] Freight Consolidation – It reduces the complexity of supply chains like creating awareness on products and routes. It also establishes a partnership with suppliers to handle the delivery. 3PL also includes additional services like [5] Order processing – where customer orders can be obtained online i.e. picking, packing and delivering. [6] Returns Management – it includes handling and refilling of the products returned. Thus, 3PL is reliable and efficient in providing high-value, temperature-controlled, and on-time delivery.