Importance of reverse logistics for the pharmaceutical industry
According to Industry Week, nearly 3 percent of medications sold over-the-counter expire before they are used, and studies have shown that nearly 40 percent of American households taking prescription medication have expired drugs. Without proper waste management, these substances may sometimes end up in sewers, eventually leading to the water supply. Improperly disposed medication may also decompose in landfills, essentially posing a health risk to people, wildlife and the environment.
It is increasingly important for pharmaceutical companies and retailers who sell these medications to have a pharmaceutical returns solution in place for this. According to the Healthcare Distribution Management Association, through the process of reverse supply chain logistics, roughly 4 percent of products leaving pharmaceutical warehouses are returned for proper disposal or redistribution, the source continued.
As reported by Reverse Logistics Magazine, additional benefits of reverse logistics include added security - by following proper rules and regulations and ensuring the medications are out of harm's way - and decreasing waste removal costs. Reverse logistics is also essential for any pharmaceutical supply chain, as counterfeiting and lost or stolen products continue to be a major threat and safety concern.
Reverse logistics, which was once thought to be a very minor piece of the supply chain, has now evolved and is considered a significant part of managing the product flow for major pharmaceutical companies.
It is increasingly important for pharmaceutical companies and retailers who sell these medications to have a pharmaceutical returns solution in place for this. According to the Healthcare Distribution Management Association, through the process of reverse supply chain logistics, roughly 4 percent of products leaving pharmaceutical warehouses are returned for proper disposal or redistribution, the source continued.
As reported by Reverse Logistics Magazine, additional benefits of reverse logistics include added security - by following proper rules and regulations and ensuring the medications are out of harm's way - and decreasing waste removal costs. Reverse logistics is also essential for any pharmaceutical supply chain, as counterfeiting and lost or stolen products continue to be a major threat and safety concern.
Reverse logistics, which was once thought to be a very minor piece of the supply chain, has now evolved and is considered a significant part of managing the product flow for major pharmaceutical companies.
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