During the Pharma TRACKTS! 2021 conference Konstantin Ivanov, co-founder and CEO of Utrace and Elena Zenkova, Serialization Project Manager at MSD shared ultimate innovative solution to the upcoming Serialization 2.0. In this article you find a summary of the key points. However, take your time and watch the full video to get deeper insights regarding Serialization 2.0 challenges and solutions.
Adapt to aggregation & full traceability
Most of you are probably familiar with L4 systems for serialization, however, with aggregation and full traceability it’s a different story. The L4 system must be highly sophisticated and much more intelligent because 3 things are going to happen with your business as you navigate into aggregation and full traceability:
- The number of operations is going to increase dramatically
- Point to keep in mind is that aggregation and full traceability will impact your whole supply chain
- Major impact of aggregation and full traceability we saw was on complexity of who was involved
New countries and new industries legislation
We see global trend that track&trace is coming to new countries, for example – Brazil, Saudi, Bahrein, Kazakhstan, and new industries – food supplements, medical devices, cosmetics and so on. A lot of our clients operate in a variety of industries and countries so they definitely want to have a single solution to comply with all the different requirements.
For us as the L4 vendor it was a challenge to create a single solution that would deal effectively with all the different countries industries and requirements.
Which benefits you can gain beyond compliance
The businesses we worked with were able to harness the track and trace data for the whole supply chain. We then enriched the data with geo-locations, maps, search history and a whole host of information. This enriched data helped our clients gain valuable business insights to boost things like supply chain and sales and marketing performance.
Companies also now use the data analytics platform to support new product launches. With precise, real-time data about stocks at each step of supply chain, the companies can now quickly and easily adjust the launch strategy where necessary. This means they can increase launch efficiency.
Watch their presentation in full to see their expert assessment.
Utrace is a leading-edge serialization software solution L4 provider that helps companies to meet needs today and build value for tomorrow. Our unmatched synergy of product development and implementation services helps us bring our clients the maximum benefits from our innovative Cloud solutions to our excellent delivery. Utrace Hub leading software solution is a Digital Twin of the physical supply chain. Decentralized scalable Cloud-based solution enables entire supply-chain tracking from production site to point of dispensation. This is combined with the ability to connect with trade partners, 3PLs, external systems: ERP, WMS, Site Managers, and regulatory databases—creates a compliant system of record for your products. We pride ourselves on being able to give our clients exactly what they desire regardless of their circumstances. We build a world in which people make mindful decisions to protect themselves, others and the environment.
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Get ready for next year’s Pharma TRACKTS! event 2022 where we will see experts from all over the world coming together to discuss topics on serialization, track & trace, and supply chain experts from the industry.