Pharmaceutical strategic collaboration program launched for inventory efficiency

Nov. 18, 2020

Pharma Logistics and ConsortiEX announced the launch of their Strategic Collaboration Program. The new program is focused on improving inventory efficiency, reducing cost, improving patient safety, managing cash flow and compliance for their customers.

The program’s immediate and future benefits to customers include:

• ConsortiEX’s DSCSA Compliance as a Service delivers the lower real cost of compliance by taking responsibility for the bulk of the work required to be compliant.

• Pharma Logistics’ Reverse Distribution Service accelerates the return of credits generated and minimizes the labor costs required to manage all of the returns processes for pharmacies.

• Customers working with both ConsortiEX and Pharma Logistics will be able to efficiently apply funds generated through Pharma Logistics Services to pay for ConsortiEX services.

Improved Patient Safety and Compliance includes:

• ConsortiEX’s services provide cost efficient and effective detection of suspect drugs to ensure these do not reach patients – the central goal of the Drug Supply Chain Security Act of 2013.

• Pharma Logistics Services ensure the complex compliance demands for returning saleable, unsaleable and recalled drugs are met – while accelerating cash flow and increasing credit recovery compared to any alternative.

In future phases of the program, the two market leaders plan to explore ways to help mutual customers more efficiently manage drug recalls, optimize drug inventory levels and minimize waste by rapidly identifying items that are approaching their expiration dates.

Pharma Logistics has the release.