As biopharmaceutical production accelerates in Asia, global manufacturers are becoming increasingly exposed to supply chain risks on Asian trade lanes. For those dealing with high-volume products, smart management of freight shipments will be crucial for commercial success.
Total revenues for biopharma cold chain logistics exceeded $15 billion in 2019. With so many cost pressures on the horizon, biopharma companies increasingly seek greater efficiencies at all points on the biopharma cold chain from upstream processes involving movement of ingredients between factories to downstream delivery of finished products to end-user markets.
For this reason, it has been suggested that biopharma companies should opt for closed-loop logistics services with all operations and monitoring managed by in-house teams with a shared quality management system.
One more option for avoiding unexpected costs is to work with logistics providers that can offer stable and predictable pricing during seasonal fluctuations in demand. Given its large air fleet, FedEx has more control over its own network than many freight forwarders, so it can manage volumes better and minimize peak season price surges.
Ultimately, every biopharma company will have its own cost considerations, risk appetite, and preferred approach to logistics. When seeking a logistics provider, flexibility and agility are paramount, so looking for an experienced solutions team that understands your business and can customize your approach to the unique needs of your business is important.
Source : Various Agencies