NORTH READING, Mass., Nov. 9, 2016 /PRNewswire/ -- TraceLink Inc., the World's Largest Track and Trace Network for connecting the life sciences supply chain and eliminating counterfeit prescription drugs from the global marketplace, today announced it will unveil the industry's first Global Drug Supply, Safety and Traceability Report—a study that examines network insights into the trading habits of the global pharmaceutical supply chain. Results from the inaugural report, which will be presented during a live webinar with president and CEO, Shabbir Dahod, at 10 a.m. EST on December 13, 2016, examine the current adoption of U.S. Drug Supply Chain & Security Act (DSCSA) lot-level regulations among pharmaceutical manufacturers, wholesale distributors, hospitals and pharmacies and provide insights on the industry's preparation to meet the November 2017 DSCSA serialization deadline.
"As the only track and trace solution provider with a network-tenant platform, TraceLink has a unique advantage to see industry trends and supply chain complexities across more than 244,000 trading partners on our Life Sciences Cloud," said Shabbir Dahod, president and CEO, TraceLink. "This study, which is the first annual report of its kind, sheds light on the current challenges that the industry faced in addressing U.S. lot-level compliance, and highlights how these learnings will likely impact the industry's ability to meet the DSCSA serialization deadline. While the majority of industry may think it's ready for serialization, the results disclose critical indicators that will motivate those who may have been delaying serialization implementation decisions to take action now."
The December 13 webinar titled, "Global Drug Supply, Safety & Traceability Report: Using 2015 Lot-Level Learnings to Understand Future Serialization Challenges," will reveal survey results from 331 respondents across the pharmaceutical supply chain (30% pharmaceutical and contract manufacturers, 14% wholesale distributors, 45% hospitals and 11% retail pharmacies.)
TraceLink partnered with independent research firm, Actionable Research, to conduct the study, gathering industry insights and experience with DSCSA lot-level implementation, including business trading habits; system modifications and investments made to achieve compliance; overall serialization readiness throughout every segment of the supply chain; and potential vulnerabilities to patient safety. The report discloses key findings on how the industry managed lot-level implementation, revealing a fragmented approach and ambiguity across all segments of the supply chain, including:
- Complex trading habits, uncovering the little-known breadth of supply chain networks;
- Non-compliance at the lot level by a portion of pharmaceutical manufacturers and wholesale distributors;
- Uncertainty among dispensers around the sustainability of T3 portals offered by wholesale distributors;
- T3 data still being exchanged in paper format by pharmaceutical manufacturers and wholesale distributors;
- The complexities behind lot-level implementation and total cost of IT upgrades;
- Overwhelming consensus that serialization will be as (if not more) challenging than lot-level compliance.
The live webinar, "Global Drug Supply, Safety & Traceability Report: Using 2015 Lot-Level Learnings to Understand Future Serialization Challenges," will be held at 10 a.m. ET on Tuesday, December 13, 2016, hosted by Shabbir Dahod, president and CEO of TraceLink. An analyst from Actionable Research will also be available during a live Q&A with webinar attendees.
TraceLink is the World's Largest Track and Trace Network for connecting the Life Sciences supply chain and eliminating counterfeit prescription drugs from the global marketplace. Leading businesses, including 16 of the top-20 global pharmaceutical companies, trust the TraceLink Life Sciences Cloud to deliver complete global connectivity, visibility and traceability of pharmaceuticals from ingredient to patient. A single point and click connection to the Life Sciences Cloud creates a supply chain control tower that delivers the information, insight and collaboration needed to improve performance and reduce risk across global supply, manufacturing and distribution operations.
A winner of numerous industry awards including Deloitte's Technology Fast 500 (ranked number 293 in 2015), the Amazon AWS Global Start-Up Challenge Grand Prize, and the Edison Award for Innovation in Health Management, the Life Sciences Cloud is used by businesses across the globe to meet strategic goals in ensuring global compliance, fighting drug counterfeiting, improving on-time and in-full delivery, protecting product quality and reducing operational cost.
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SOURCE TraceLink Inc.