As supply chains become more complex and vulnerable to global events, the associated risks grow too. Indeed, one Deloitte survey found 53 percent of respondents think risk events have become more costly than they were three years ago. Executives across industries are increasingly looking for visibility into the flow of products and understanding for how that impacts cost management and regulatory compliance.
A recent study from UPS gauged health care executives' desire for technology to offset these kinds of issues, as well as their plans for investing in their supply chain. The UPS "Pain in the (Supply) Chain" report found 59 percent of responding health care executives plan to rely more on third-party logistics partners, which in turn may drive up the need for tracking systems and other forms of technology among manufacturers and warehouse managers.
Robin Hooker, director of global strategy for UPS Healthcare Logistics, said some supply chain pain points have been consistently reported each year, with product protection and regulatory compliance concerns standing out "as supply chains grow in complexity and length." However, he added "the good news is that executives are seeing success in addressing these issues through increasingly sophisticated technology solutions, accessing regulatory expertise and forming strategic partnerships with third-party logistics providers."
Being able to ensure timely, accurate production and delivery could help manufacturers stand out from competitors, as it would allow them to position themselves as reliable suppliers and potentially deepen the relationship with health care clients.
In a highly regulated environment such as the health care industry, having a clear strategy to ensure safe and efficient maintenance of inventories will likely be a top priority for health care facilities and warehouse managers alike.
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