NEWS

University of Lahore

29
MARCH
Seminar on 'Logistics: The Lifeline of Pharmaceutical Industry'

Logistics is a crucial part of the pharmaceutical industry as the activities are highly time sensitive. It is very critical for providing the right medicine to the right patient at the right time, place and dosage and most importantly at the right price. Since business is highly competitive today, success largely depends upon the efficiency of supply chain. Supply chain is very critical as it maintains the complex network relationship between the organizations (drug manufacturers), trading partners to source raw materials, delivery products, retailers and hospitals.

 

The Cluster of Supply Chain Management, Lahore Business School, University of Lahore organized a guest speaker session on “Logistics-The Lifeline of Pharmaceutical Industry”. Mr. Asim Baidar was invited as a guest speaker. He possesses more than 10 years’ experience in pharmaceutical industry and presently serving as Head of Marketing Service and Distribution Operations at CCL Pharmaceuticals. 


He explained that the lifeblood of the pharmaceutical industry is new product innovation and delivery. The Industry focuses on R&D efforts to develop the product and gain approval that the supply-chain management activities related to making the product available to providers and patients can seem an afterthought. Pharmaceutical products need temperature-controlled storage and distribution. The industry has given importance to logistics by focusing on supply chain and logistic level activities such as delivering the product to the end-customer at the right time, right place, in a secure mode and at a competitive operational cost.

 

In the Q&A Session he further highlighted that the most important supply chain factors in pharmaceutical industry are inventory reduction and reduction of order cycle time. This is because, operational performance could be directly linked to logistics costs, while inventory reduction and the demand to decrease order cycle time are related to just-in-time deliveries and supply chain speed. Healthcare logistics segment is highly specialized and extremely diverse with their own share of problems and challenges. The current logistics scenario in the healthcare segment to an extent is still primitive. The pharma retail segment is a very promising and upcoming segment. The opportunities from the logistics perspective are very high as most of the pharmacy retail players are approaching the third-party logistics service providers to provide them with effective logistics solutions for the smooth functioning of the back-end operations. At the end of the session souvenir was presented to the guest speaker.

 





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