Serialization is one of those things that pharmaceutical companies need to do, but no one wants to do. It’s expensive and it’s a pain, but, believe it or not, there are tons of benefits to your business if serialization is implemented correctly.
Of course, there are the more published, obvious benefits of serialization like aiding in recalls, combatting counterfeiting, and regulatory compliance. Those are pretty well understood and serve as the backbone for justifying serialization within most organizations. However, there are more overlooked (but just as powerful) advantages to having a robust serialization solution in place. Here are three:
1. Enhanced Visibility to Your Supply Chain
It’s like you’ve been looking at your supply chain from across the room with nearsighted eyes, and now you’ve got your first pair of glasses! An increase in detailed information regarding where your product is at (and how much) will enhance your ability to forecast sales. Additionally, inventory management of both finished product and raw materials will be more accurate due to the real-time information you’ll now have.
2. Better Understanding of Your Packaging Process
One of the most overlooked benefits of serialization implementation is actually a part of the serialization implementation process, not an end result. Implementing serialization requires that you intimately understand your existing manufacturing and packaging processes. Most companies believe they do so already, but they quickly find out that they don’t. As you begin to inspect every inch of your equipment, lines, current ERP system, batch records, and SOPs, you begin to rekindle your relationship with your manufacturing and packaging process. You’ll find yourself identifying improvement points that you would never have uncovered otherwise and making valuable changes as part of the overall implementation process.
3. Untapped Potential
The future benefits of a fully implemented, end-to-end serialization process are vast, powerful, and not yet fully realized. For example, patient feedback as a result of individual unit serialization and end-to-end aggregation could provide valuable insight that could not otherwise be achieved. In addition, usage data for devices and drugs could help businesses make improvements on existing and future products.
To learn more, reserve your spot at our serialization webex. We’ll cover upcoming regulations, implementation, & more!