The World Health Organization (WHO) has estimated that 10% of global pharmaceutical commerce involves counterfeit drugs. In Europe alone, it is estimated that the pharmaceutical industry was losing €9.6 billion in sales due to counterfeits during the period of 2012-2016, which represents 3.9% of total sales.
Biotechnology, drug, food manufacturers, wholesalers and other stakeholders are vital to the health of the global population. However, these companies often operate under strict regulations to ensure the safety and quality of drugs, food and other goods at each level, from raw material to consumer distribution. Any disruption in the supply chain can have unforeseen ripple effects across the system.
But also outside the pharmaceutical industry, track and trace is a key aspect to remain competitive and be agile within changing markets.
Increased transparency through better information sharing and tracking can have a significant impact on the entire value chain. The quality and availability of data are influenced by accuracy, timeliness, credibility and inter-organizational relationships. Discover how track and trace technology can support your journey to supply chain visibility, better recall management and full regulatory compliance.