Published in Scrip Pharma Intelligence (Informa), October 2018 Volume 10 Issue 3By Jerry Ferracamo, Product Development Manager, Inmark
Companies that match Controlled Room Temperature packaging to their products’ specific supply chain risks will come out ahead.
Fear should not drive executive thinking about pharmaceutical Controlled Room Temperature (CRT) packaging solutions – effective risk management should. Evaluating and differentiating the cold chain packaging of life sciences and drug products can fine-tune packaging solutions to reduce risk, because appropriate packaging improves efficiency and control costs while building in safety margins. Managing risk smartly up front matches the right package to the right product and lane, preventing dangerous supply chain breakdowns, improving worker productivity, halting product loss and reducing waste. Those who handle cold chain risk through focused packaging solutions can increase their products’ competitive advantage and drive business success in today’s increasingly crowded drug spaces. (See sidebar, “How To Save Big On Packaging.”)
However, corporate risk-management teams often fail to realize these advantages. Pharma companies typically consider worst-case risk scenarios when choosing CRT packaging – which consequently leads to implementation of unnecessarily costly solutions. In managing high-value products, they overspend in the pursuit of seemingly breakdownproof supply chains. Rather than evaluate and mitigate real-world risk, risk management leaders opt for excessively engineered, inefficient and wasteful CRT solutions. Read more.