Pharma Bio World, India: Cognizant’s Global Delivery Head of Life Sciences Says Pharmaceutical Companies Have a Compelling Opportunity to Profit From the Internet of Things
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“Today, pharmaceutical companies have a compelling opportunity to adopt and profit from the game-changing technological advancement called the Internet of Things (IoT),” writes Ram Meenakshisundaram. “The IoT environment helps pharmaceutical companies to automate and revitalize their manufacturing and supply chain management operations.” Excerpts:
“IoT extends visibility into every area of the business from development through manufacturing, transport, distribution, dispensing, and consumption. On the shop floor, real-time data from sensors will allow visibility across all areas of work, and result in improved productivity, efficiency, reduced cycle time and manufacturing costs.
Smart warehouse management systems enabled by IoT integration will bring in increased visibility, provide real-time data to track and report inconsistencies (for example, storage temperature), and ensure that the right data is available at the right time to enable the right people to act when it truly matters. In logistics, tracking drug inventory movements in real time can save billions of dollars. Smart pharma packaging can help ensure that shipments and medications are accurately tracked, and the supply chain remains fluid, efficient, and cost-effective.
In a fast-changing world, connected equipment, men and material tracking, sample lifecycle management, smart packaging, and cold-chain monitoring are among the top IoT applications suited for the pharmaceuticals industry.
The advances in digital technologies, ubiquity of mobile computing, dominance of social media, and a growing portfolio of smart products are sure to bring real-time actionable intelligence. Enterprises must constantly use emerging technologies to innovate, stay relevant, constantly hone competitiveness and make profits. The time for pharmaceutical companies to accelerate implementation and use of IoT platforms and solutions is now.”
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