Achieving Cold Chain Visibility with the Internet of Things
The pharmaceutical industry is facing the monumental challenge of ensuring the safety and temperature control of products while they are in transit. The lack of accurate, real-time visibility into shipments can lead to costly delays and increases the probability of lost or damaged goods.
It's estimated that these temp excursions are costing as much as $35 billion each year due to outdated shipping processes and monitoring solutions. The good news is that by embracing emerging technologies like the Internet of Things (IoT), companies can now gain previously unattainable levels of temperature visibility throughout their supply chain, protecting valuable products from spoilage during transport and ultimately saving money.
In this blog post, we explore how using IoT devices for cold-chain management can help enterprises achieve a highly efficient, cost-effective solution for ensuring product temperatures remain consistent during transit.
IoT Devices and the Cold Chain
The Internet of Things (IoT) is becoming increasingly important in the pharmaceutical cold chain. By using IoT devices, companies can monitor temperature, humidity, and other environmental conditions throughout the product's journey to ensure goods remain at the optimal temperature range. This helps minimize the spoilage of expensive products due to temperature fluctuations that could occur during transit.
Typically, a freight or logistics company will offer IoT-monitored shipments as a service. Sensors are then installed in containers, refrigerated storage devices, and other transportation modules. These sensors monitor temperature and atmospheric data, then relay that data to stakeholders so they can monitor it remotely.
IoT devices can even be linked to automated systems or applications that relay warning messages to logistics providers or the client, so they can take corrective action.
Using Advanced Technologies for Security and Reliability
IoT devices can be combined with other technologies in the supply chain, such as blockchain technology, to secure and track products more efficiently. This combination of technologies can be used to ensure authenticity, integrity, and trust in the supply chain. Blockchain technology can also provide a real-time view of the product’s location and temperature throughout its journey, allowing companies to make informed decisions when needed.
IoT devices can also be used in combination with cloud computing to develop a more reliable cold chain system. Companies can analyze data from sensors and other sources, store it securely in the cloud, and then use advanced analytics to make informed decisions about product temperatures, shipping routes, and other factors that could affect the shipment’s reliability.
The Impact of IoT on the Cold Chain
IoT technology is already present in the cold chain, and it is quickly becoming a standard rather than an additional service. According to an article by Aircargo News, a survey of key leaders in the biopharmaceutical industry found that "the majority of survey respondents now see temperature and location logging as valuable and necessary. However, the survey also found that about one in four of the respondents still do not use location and temperature monitoring.
Standardizing IoT devices and remote monitoring in the cold chain could result in significant cost savings, as well as provide improved product safety and reliability. It could also reduce waste due to spoilage, improve customer experience, and provide better insights into the supply chain process.
Prioritize IoT in Your Cold Chain
In conclusion, using IoT devices for cold-chain management can help companies achieve a highly efficient, cost-effective solution for ensuring that products remain viable during shipping. This technology is quickly becoming imperative, even if there are still steps and processes ahead of the industry before full visibility is a reality.
If you’d like to learn more about IoT technology and the cold chain, don’t miss the next LogiPharma event. It’s happening from October 4th to October 6th at Westin Copley Place in Boston, Massachusetts.
Download the agenda and register for the event today.