Distribution of medical supplies has changed substantially over the years with a majority of the UK manufacturing of medication and medical supplies taking place overseas. But with limited supply and ongoing disruption to the distribution process, several ongoing trends can affect this. In this article, we will be providing you with insight into some of the ongoing trends you should be aware of.
Manufactures Compared To Distributors Are Declining
Though the need for distribution of medication has continued to rise, it is important to note that the number of manufacturers for these drugs is steadily declining. This is an issue that we are seeing across the board as a number of the large companies continue to capitalize on a monopoly on the market. This is an issue that is plaguing the industry at this time as the demand for orders of numerous medications is increasing. This is adding mounting pressure on an industry that requires a quick turn around time to ensure that the distribution of all medication is done as correctly as possible.
As a result, this is a trend that is continuing at this time and could have a profound effect on the future of manufacturing medication. This is an issue that is being resolved by several distributors, as they are providing the opportunity for several regulated manufactures to ensure that everyone gets their medication when it is needed for sale to the general public.
Overstocking Is Still A Huge Problem For Distribution.
Another trend that is a huge issue for distribution at this time is overstocking. Overstocking is the biggest contributor to stock being returned to the distributor. This is an issue that is closing the industry a huge amount of money at this time and needs to be monitored at every stage. This is the role of a distributor is to track and monitor the stocks that are on the market. Overstocking for supermarkets, pharmacies, and other elements can lead to inconsistent data.
This is an issue that can affect the entire supply chain if not monitored closely and has been combatted with computer automated systems. These automated systems have helped to collect information surrounding orders as well as monitoring stock in all its forms.
Data Management Services Are Being Extended.
In addition to the issue of overstocking, there has also been a huge development in Data management services. With several pharmaceutical distribution elements to consider, there have been many software and technology generated to create an ecosystem that is much more efficient.
With the implementation of automated technologies, it has helped to streamline the processes of distributing medicine medicines. Whether it is tracking, order fulfillment purposes, or tracking for shipments from manufacturers, this has allowed for data to be collected and ensure that the supply chain is working efficiently. This is a trend that is set to continue over the next decade as new delivery options such as drones begin to be used. This provides a much faster delivery option and can help both retailers and distributors to send medication to those that need it in a much faster time frame.
This is a positive change for the industry as this allows for deliveries to be fulfilled in a much more efficient manner. In addition, closer tracking of orders will also help to reduce the issue of overstocking in terms of manufactures,
Personalized Medicines Adding Additional Pressure
Another trend that is facilitating great change in the distribution of medicine at this time is the growing trend of personalized medication. With a number of us looking for treatments that are designed to treat specific issues that we are dealing with, this has put great pressure on the manufacturing of medication as there are several companies offering varying treatments.
This new trend of personalized medicine has changed the course of the supply chain as it is a much more personalized experience. With one delivery per patient, this has meant that businesses have had to develop a transportation method for this medication that is safe and secure. This has meant the development of AI and other technologies to ensure that deliveries are fulfilled on time whilst keeping the medication at a safe temperature.
This distribution process is constantly changing as the need for faster delivery and specialized treatment continues to grow. With the time of the essence, the potential for drone delivery and faster distribution methods are being explored, this is, therefore, changing the way that we have the right amount of time and money in the long term.
The Issues Of Drug Prices
The final major trend that has been an issue for a while in the industry has been the drug prices. With such high demand and a limit on the number of manufactures in the industries, drug prices have continued to rise. This is a result of supply and demand as well as the ongoing need for the business. With so many people relying on medication in all its forms the issue of drug prices is not only beneficial for the business but also every element of the supply chain as profit needs to be made by every part of the supply chain.
The prices of medications can fluctuate substantially depending on the manufacturing costs at the time. This is because the profit margins for distributors then differ as a result. This is an issue that has also passed down to those that are purchasing medication from a supermarket or pharmacy as the price will continue to rise. This, as a result, puts additional pressure on those relying on the system as medication continues to increase in price. Though some medications are free, some are higher priced as a result of the much more expensive manufacturing and supply chain.
With this in mind, there are several trends that are revolutionizing the supply chain at this time as it continues to supply medication to larger companies all over the world. But as technology continues, how is this set to change in the near future?
