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Pharmaceutical & Medical Packaging News, November/December 2014

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There's a lot of risk in the supply chain, and that's been a source of great concern for healthcare executives like you—but now it's time to embrace that risk. Doing so presents you with opportunities to transform your supply chain. You are facing a changing healthcare landscape, increased regulations around the world, ongoing supply chain cost concerns, and the need to protect products from supply chain hazards. And, findings of the 7th Annual Pain in the Chain survey (PITC) conducted for UPS suggest that to maintain your position in the markets you currently serve and to grow and expand into new markets, you've got to take action, now. "The winners in tomorrow's healthcare marketplace will be the companies that have created agile, effi cient, and fl exible supply chains. Now is the time for companies to take action, to make the strategic supply chain changes that will allow them to capitalize on untapped opportunities." —7th Annual PITC Healthcare executives are also concerned about product protection. Longer supply chains and increasing numbers of highly valuable, temperature-sensitive products in the supply chain increase the need for in-transit protection. Healthcare executives are finding supply chain success through collaboration. Successful strategies for regulatory compliance include hiring regulatory consultants (57%), building partnerships with local native distribution firms (54%), and building partnerships with large multinational distribution fi rms (38%). Partnerships can allow healthcare products companies to focus on their own core competencies, while logistics and distribution service providers address supply chain challenges with their infrastructure and expertise, opening up cost-effi cient, regulatory-compliant access to global markets. "Continued investment in technology will be critical to building global supply chains that serve more customers, more effi ciently." —7th Annual PITC To learn more about the supply chain concerns of healthcare executives and explore some of the strategies that are helping to address today's most prevalent supply chain challenges, download the report at www.ups.com/pitc. In it, you'll also fi nd regional regional spotlights on the healthcare markets in Asia-Pacifi c, Latin America, North America, and Western Europe, as well as other key supply chain insights. "The greatest risk of all . . . may be the one that isn't obvious: waiting too long to capitalize on the untapped opportunities in healthcare." —7th Annual PITC Successful strategies for supply chain management include: Survey participants cited the following strategies as successful in managing supply chain costs North America Global Used logistics and distribution partnerships Vested logistics and distribution partnerships Outsourced transportation management 78% 56% 62% 42% 60% 45% Regulatory compliance Product security Managing supply chain costs Addressing the changing regulatory environment is the biggest concern North America Global 66% 60% 47% 44% 43% 46% Embracing Risk: It's Time to Capitalize on Untapped Opportunities S P O N S O R E D C O N T E N T

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