In 2015, spending in the United States’ logistics and transportation industry totaled $1.48 trillion, roughly 8% of the nation’s gross domestic product.
An important part of that industry is pharmaceuticals and pharmaceutical logistics. Globally, the pharmaceutical industry does over $1 trillion in business and that number is steadily rising, expected to rise to $1.12 trillion by 2022.
While pharmaceutical logistics can safely and effectively get medications to manufacturers and customers, there are several problems facing the industry as it becomes increasingly complex.
- Lack of Coordination: As a global industry, having a coordinated supply chain is important, but this is far from easy. As people are always in need of medications, they may turn to cheaper or fake alternatives if they are available and the authentic brands will be hurt.
- Controlling the Temperature: Many pharmaceutical products must be kept at a certain temper