TSE/NACDS Takeaway: Retailers Expect Serialization to Drive Bottom-line Results

Total Store Expo (TSE) took place in San Diego, August 19-22, attracting 5,400 attendees and 720 exhibitors. It’s the industry’s largest gathering of pharma retailers and suppliers. The conference and expo is organized by the National Association of Chain Drug Stores (NACDS), an advocacy group for the chain community pharma industry. Thanks to the winning format provided by the NACDS, exhibitors and attendees all had a productive and fun time. LSPediA was able to meet with over 50 companies in three days, allowing us to have engaging serialization conversations with lots of trading partners in the pharmaceutical supply chain.

And we learned a lot. Below is just a taste of what we and other attendees were able to absorb.

Retailers Embrace Serialization

We had an excellent start on the first day participating in the “Meet the Market” program. This program enabled thousands of presentations to be made to the top retailers in the U.S. Our team had 20-minute meetings with over a dozen retailers. Prior to going into the meetings, I had prepared an overview of what retailers may not be aware of regarding serialization. My assumption was that they probably knew very little about the DSCSA—and they proved me wrong. Our conversations with the retailers quickly turned into in-depth discussions around their interest in leveraging serialization for store inventory balancing, dispensing by expiration date, and error-proofing supply chain transactions. We could not have asked for a better audience. Our RxChain solution’s capability in level-4 data repository, level-5 data exchange, and serial distribution were immediately understood. We also talked about the order-to-cash cycle, store inventory management, and smart dispensing. Although their DSCSA compliance date is a few years out (2020), we learned that retailers are most definitely interested in how serialization can improve their bottom line.

Serialized Distribution Is the Key

The benefit of serialization can only be realized when all trading partners exchange serialized data. Manufacturers play a critical role as the initiator of product serial numbers. They hold the key to the benefits that distributors and retailers can enjoy downstream. Among the many meetings we had with manufacturers, some have level-4 and level-5 serial data solution, and some don’t. And they are all in need of a serialized distribution solution so they can deliver their serialized products to their wholesale distributor customers with the proper data exchange. Utilizing a serialized distribution solution not only meets compliance requirement but also improves distribution efficiency. Our solution RxChain has all three capabilities—as well as the highest usability, scalability, and mobility.

Compliance with High Performance

When DSCSA gave the FDA authority over the pharma supply chain in 2013, distributors and retailers began to learn about DSCSA requirements and FDA compliance. Distributors understand the critical nature of FDA compliance, as well as their need for high-performance operations. In a business where thousands of transactions happen daily, the compliance process must operate as efficiently as possible. Many distributors are realizing the value to be gained from implementing Electronic Data Interchange, especially Advanced Shipping Notice (EDI ASN) for the DSCSA 2015 requirement—which has improved both logistics operations and order to cash cycles. They now look into the 2019 serialization requirement with every warehouse transaction in mind. We were thrilled to discuss the details of RxChain and its serial data management, automated receiving, and high-speed outbound pick, pack, and ship workflows.

Summary and Next Steps

NACDS brings together the entire industry to build partnerships for better business outcomes. LSPediA was delighted to participate as a solution partner, an enabler of effective serialized supply chain operations, and an advocate for improved patient safety.

We help pharmaceutical supply chain partners improve productivity while meeting compliance requirements. Our solutions and tools can help you achieve inventor goals, minimizing errors in shipping, receiving, and expired product management. To find out more, contact us today.

 
About LSPediA – Life Sciences Solutions
LSPediA is a leading provider of services and solutions that secure supply chains, protect against product counterfeiting, and help businesses comply with FDA regulations. Our customers are partners in the pharmaceutical supply chain, including manufacturers, wholesale distributors, dispensers, and reverse logistics providers. LSPediA helps customers define needs and implement best-of-breed supply chain and enterprise solutions that improve efficiency and comply with FDA and global standards.

We value long-term relationships and work with our clients’ internal teams to properly define roadmaps, create architectures, and implement systems that align to vital business goals. Our expertise, experience, and technical know-how help customers derive maximum value from their investments, both now and well into the future.

For more information about LSPediA, call +1 (248) 973-2008, email info@lspedia.com, or visit our website at www.lspedia.com.

For additional information, contact: Julianne Jahn jjahn@lspedia.com

Posted in: DSCSA, Serialization, Upcoming Events

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