• Advertise
  • Contact Us
  • About Us
  • Supplier Directory
  • Login
  • Subscribe
  • Logout
  • My Profile

  • CORONAVIRUS
  • LOGISTICS
    • Air Cargo
    • All Logistics
    • Express/Small Shipments
    • Facility Location Planning
    • Freight Forwarding/Customs Brokerage
    • Global Gateways
    • Global Logistics
    • Last Mile Delivery
    • Logistics Outsourcing
    • LTL/Truckload Services
    • Ocean Transportation
    • Rail & Intermodal
    • Reverse Logistics
    • Service Parts Management
    • Transportation & Distribution
  • TECHNOLOGY
    • All Technology
    • Artificial Intelligence
    • Cloud & On-Demand Systems
    • Data Management (Big Data/IoT/Blockchain)
    • ERP & Enterprise Systems
    • Forecasting & Demand Planning
    • Global Trade Management
    • Inventory Planning/ Optimization
    • Product Lifecycle Management
    • Sales & Operations Planning
    • SC Finance & Revenue Management
    • SC Planning & Optimization
    • Sourcing/Procurement/SRM
    • Supply Chain Visibility
    • Transportation Management
  • GENERAL SCM
    • Business Strategy Alignment
    • Education & Professional Development
    • Global Supply Chain Management
    • Global Trade & Economics
    • HR & Labor Management
    • Quality & Metrics
    • Regulation & Compliance
    • SC Security & Risk Mgmt
    • Sustainability & Corporate Social Responsibility
  • WAREHOUSING
    • All Warehouse Services
    • Conveyors & Sortation
    • Lift Trucks & AGVs
    • Order Fulfillment
    • Packaging
    • RFID, Barcode, Mobility & Voice
    • Robotics
    • Warehouse Management Systems
  • INDUSTRIES
    • Aerospace & Defense
    • Apparel
    • Automotive
    • Chemicals & Energy
    • Consumer Packaged Goods
    • E-Commerce/Omni-Channel
    • Food & Beverage
    • Healthcare
    • High-Tech/Electronics
    • Industrial Manufacturing
    • Pharmaceutical/Biotech
    • Retail
  • REGIONS
    • Asia Pacific
    • Canada
    • China
    • Europe
    • Latin America
    • Middle East/Africa
    • North America
  • THINK TANK
  • WEBINARS
  • PODCASTS
  • VIDEOS
  • WHITEPAPERS
Home » Innovating to Meet Needs of Retiring Baby Boomers

Innovating to Meet Needs of Retiring Baby Boomers

March 7, 2016
SupplyChainBrain

Indeed, logistics currently does and will continue to play an important role in the pharmaceutical industry. Due to the regulatory requirements the industry faces, logistics needs are specialized and thus high-valued. For example, the changing makeup of pharmaceuticals requires temperature-controlled storage and transport. According to FedEx, about 25 percent of all healthcare products are temperature-sensitive and by 2016, over 50 percent of the top 50 best-selling drugs will require cold-chain transportation. In fact, the U.S. is the largest cold-chain market, forecasted to grow almost 21 percent from 2013 to $3.1bn in 2017.

E-commerce is also changing the dynamics in pharmaceutical delivery. The online start-up, PillPack, coordinates with insurance and physicians and then organizes and labels medication in unique packaging. It then ships a personalized roll of pre-sorted prescriptions, vitamins and over-the-counter drugs on a set schedule wherever the consumer indicates. In mid-2015, PillPack received $50m in funding, which the company plans to use to build physical stores. This will provide consumers the option to get medicine quicker than it would be to ship from PillPack and offer a knowledgeable pharmacist at the ready.

In addition, companies such as Express Scripts will also benefit from the changing dynamics of the healthcare market. Express Scripts is a full-service pharmacy benefit management company that provides various services, including home delivery offerings. Its web services include prescription histories, online refills and comparative prices as well as information on prescription drugs, herbs and medical conditions.

The Internet of Things (IoT) has also heralded innovative ways of bringing consumers and pharmaceutical companies closer. According to a recent Capgemini study, there are approximately 1.9 billion connected devices today, which are expected to rise to 9 billion by 2018. Among available IoT innovations is Janssen’s Care4Today, an app that sends alerts to family members when someone does not take their medicines. The retail pharmacy, Walgreen’s Connect app, encourages its rewards members who own its branded blood glucose meter or blood pressure wrist monitor to take daily measurements. Users can earn points for taking the daily measurements and then use the points for store discounts.

Furthermore, as the population ages, the need for home health services will likely rise, thus creating additional opportunity for logistics and delivery providers. White glove services such as delivery, set up and maintenance of such home medical equipment as dialysis products and respiratory therapy and IV equipment will increase along with home delivery of pharmaceuticals. Logistics and delivery providers such as FedEx, UPS and SEKO Logistics are among a growing number of providers to offer solutions.

The Outlook

Innovative solutions are contributing to the ways an aging population manages healthcare. Much like retail’s evolution into omnichannel offerings, consumers will benefit from e-commerce in the how and where they receive prescription and over-the-counter drugs as well as for medical equipment set up, maintenance and delivery. Since specialized handling and training will be needed to handle pharmaceuticals and medical equipment, logistics and delivery providers will need to be prepared to demonstrate this know-how to set themselves apart from the competition.

RELATED CONTENT

RELATED VIDEOS

Logistics Express/Small Shipments Transportation & Distribution Technology Cloud & On-Demand Systems Order Fulfillment Pharmaceutical/Biotech
KEYWORDS chief operating officer cloud services Cloud, SaaS & On-Demand Systems cold-chain logistics Express/Small Shipments Kim McQuilken Logistics online order fulfillment order fulfillment pharmaceutical e-commerce pharmaceutical supply chain Pharmaceutical/Biotech Spend Management Experts Supply Chain Management: Pharmaceutical/Bio-Tech Technology temperature-sensitive shipments Transportation & Distribution
  • Related Articles

    Four Strategies to Help Manufacturers of Fast-Moving Consumer Goods Meet Customers' Needs

    FAA Needs to Stop Droning on About UAVs

    Retailers Meet the Challenge of the Omni-Channel

  • Related Events

    The Big Picture: What It Takes to Make Last-Mile Delivery Work

SupplyChainBrain

100 Great Supply Chain Partners Issue 2009

More from this author

Wake up to Coronavirus Updates and the latest Supply Chain News!

Subscribe to our Daily Newsletter

Timely, incisive articles delivered directly to your inbox.

Popular Stories

  • Coronavirus-watch-Armada

    Virus Update: Cadila Looks to Double Vaccine Capacity; Pfizer Makes South Africa Deal After Standoff

    Coronavirus
  • Ocado

    Kroger Is Amassing a Robot Army to Battle Amazon, Walmart

    Logistics
  • Why Is There a Global Semiconductor Shortage?

    Watch: Why Is There a Global Semiconductor Shortage?

    Coronavirus
  • Gig Worker

    The Gig Economy Is Booming, Despite Debates Over Workers’ Rights

    Logistics
  • Mathematics

    Solving Supply-Chain Disruption Comes Down to Mathematics

    Data Management (Big Data/IoT/Blockchain)

Digital Edition

Scb feb 2021 lg

2021 Supply Chain Management Resource Guide

VIEW THE LATEST ISSUE

Case Studies

  • Remote Implementation: A Dose of the Right Medicine for B2B Pharmacy

  • LSP Saves Customer $1.5 Million a Year With MPO Global Inbound Management

  • Auto Supplier Wows Key Client Using riskmethods Supply Chain Savvy

  • Integrating Shipping and Compliance Saves Conglomerate Millions

  • How a Consumer Goods Giant Upped Its On-Time Delivery Performance

Visit Our Sponsors

Yang Ming 6 River Systems ArcBest
Armada aThingz BluJay
Burris Logistics DSC Logistics DCSA (Digital Container Shipping Association)
DHL Resilience360 Flash Global Genpact
Geodis GEP GreyOrange
Honeywell Corporate Honeywell Intelligrated Infor
Inmar Kibo Commerce Kinaxis
Logility Magnitude Software MPO
Old Dominion Oliver Wight OpenSky
Paccurate Ports America Purolator
QAD Precision Red Classic Riskmethods
S&H Systems Snapfulfil TGW Systems
Tradepoint Atlantic Transportation Insights Watson Land Company
Westfalia Technologies Workjam
  • More From SCB
    • Featured Content
    • Video Library
    • Think Tank Blog
    • SupplyChainBrain Podcast
    • Whitepapers
    • Webinars
  • Digital Offerings
    • Digital Issue
    • Subscribe
    • Manage Your Subscription
    • Newsletters
  • Resources
    • Events Calendar
    • SCB's Great Supply Chain Partners
    • Supplier Directory
    • Case Study Showcase
    • Supply Chain Innovation Awards
    • 100 Great Partners Form
  • SCB Corporate
    • Advertise on SCB.COM
    • About Us
    • Privacy Policy
    • Contact Us
    • Data Sharing Opt-Out

All content copyright ©2021 Keller International Publishing Corp All rights reserved. No reproduction, transmission or display is permitted without the written permissions of Keller International Publishing Corp

Design, CMS, Hosting & Web Development :: ePublishing