One of the top problems for pharmaceutical and life science companies today is diversion which involves unauthorized distribution of product without a manufacturer’s knowledge, also known as “gray market.” Not only is the brand and profits of the company at risk, which can total up to billions of dollars a year, but the impact on consumer health and safety has a far greater cost. This problem is not limited to the pharmaceutical industry; it spans across other industries including chemical and consumer products as well.
Often times, diversion occurs through “weak links” in the supply chain - a warehouse with poor security procedures, trucking companies that do not enforce shipping rules, a distributor that doesn’t automate the shipping or receiving process, or even employee theft. Once a problem is discovered, it is up to manufacturer to identify the affected lots and reduce exposure to consumers by recalling all product from the market, even the legitimate ones.
With an estimated $30 billion in lost revenue per year, companies need to find new ways to address this every growing issue.
Be Proactive
Companies need to be proactive in order to meet new regulatory mandates while still developing the processes to ensure a safe, secure supply chain that will positively impact the bottom-line of the organization.
Acsis’ ProducTrak is a complete solution that enables organizations to track and trace product anywhere in the supply chain creating the visibility and security needed to ensure that your product gets to the destination that it was intended for. It identifies the weak links in the supply chain and in the event of a supply chain diversion issue, allows you to target only the specific products that were diverted instead of entire lots of product that increase the size and cost of a recall.
Acsis ProducTrak utilizes the best-in-class features of specific modules to protect products at every touchpoint in the distribution network.
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ProducTrak Mobile ensures complete product lifecycle management – from raw material, through production, and delivery to the hospital, wholesaler, or retailer.
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ProducTrak SPDM is a serialization management solution that works with existing ERP systems to enhance product visibility at the item level and ensures compliance with ePedigree mandates or Food Safety Modernization Act requirements.
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ProducTrak Parcel Pack provides a station-based solution for managing the packing and shipping processes for serialized and non-serialized product and updates the ERP system automatically for more accurate inventory levels.
Acsis ProducTrak solution has the full functionality to track and trace individual products or assets through its entire lifecycle; as well as manage contract manufacturers, packagers and suppliers at the push of a button. And Acsis also provides the flexibility of selecting only the modules needed to address their specific issues or government mandates. That’s the power of Acsis.
To learn more about how we are helping companies identify and address their diversion issues, contact us at (856) 673-3000, or schedule a demo.