For pharmaceutical companies, the landscape is one of increasing change, complexity and competition; to survive in such a challenging and demanding environment, it’s necessary for companies to rethink their labeling strategy.
June 14, 2017
The complexities and challenges faced by the Pharmaceutical Industry are many and formidable.
Starting with an intricate ecosystem where as much as 60 percent of the manufacturing processes may be outsourced you may have ten or more different entities involved in the delivery of the final product.
Regulations are many, both within the United States and on the international front, and these have a particularly significant impact as existing markets mature and companies look to expand into emerging markets.
As globalization increases, counterfeiting continues to grow as a problem. New drugs, and variations of already-approved drugs, are continually introduced. It almost goes without saying that competition is intense.
These factors combine to exert increasing pressures on existing labeling systems. Many of these systems—built for a less complex environment—are inadequate to stand up to these pressures.
Adopting an Enterprise Labeling approach, one that recognizes labeling as a strategic requirement, and not just a tactical necessity, enables companies to reduce and streamline multiple, at times repetitive, solutions and databases. Enterprise Labeling integrates production printing and business processes at the supply chain level.
By standardizing labeling, and tying it to master data sources or “systems of record,” companies throughout the pharmaceutical ecosystem are able to replace disjointed, often manual, error-prone processes with a uniform and consistent process. As a result, misrouted, delayed, and lost shipments are minimized, as are returns by customers.
Fines for inaccurate product identification, imposed by distributors or wholesalers, decrease. The branding requirements of trading partners can also be met.
Enterprise Labeling as an Rx for pharmaceutical companies helps you meet regulatory standards, enhance your competitive posture, and drive efficiencies that improve the bottom line.