Tecsys's new pharmacy survey unveils a serious lack of supply chain visibility in an industry that needs it more than ever. Guy Courtin, vice president industry and global alliances, explains.

The new report reveals that some 80% of surveyed pharmacists have “little or no” visibility of product in the pipeline, what’s expired and what’s going out, Courtin says.

Given the high degree of regulations to which the industry must adhere, one might assume that it would be ahead of the curve in achieving total supply chain visibility. But when billions of dollars’ worth of product are flowing through the system, healthcare executives might not be paying attention to a problem valued in the mere millions. “When you’re making so much money, you have other problems to solve first,” Courtin says.

That kind of complacency is no longer sustainable, however. Regulations are getting even tighter, and the industry is realizing that it needs to get a better handle on its supply chain. Hospitals, meanwhile, are seeing an opportunity to better service their patients. Visibility and traceability are, therefore, growing rapidly as priorities.

A substantial obstacle to that objective is the lack of clean data, which is the basis for achieving visibility of inventory, Courtin says. What’s more, it must be available at the time it’s needed — like an expired drug, it’s of little or no use when it outlives its value.

Artificial intelligence is part of the solution, but it, too, requires accurate data, delivered “in business time,” Courtin says.

The healthcare industry has come a long way in the past 20 years toward achieving the required level of efficiency and quality, but much progress remains to be made. “It’s a journey,” Courtin says, “and the destination keeps getting pushed out.”