Author: Jody Radoff
CRO Adapt Ideations
As the world grapples with the Covid-19 pandemic the underbelly of the BioPharma logistics world was exposed to the reality of innovation needing to become a key focus. Much like the ATM and online banking did to the finance industry, the traditional methods and models of supply chains was becoming more obsolete. The problem that most identified but weren’t ready to act upon by companies was taking the leap to invest in newer and more versatile IoT solutions using data analytics to monitor highly sensitive products in the supply chain. Companies either didn’t have the budget, time or believed what had been working for the past two decades was sufficient enough. Suffice to say, we have reached the inflection point and thus where Adapt Ideations is disrupting the standards with innovative solutions utilizing IoT technology.
You have to start with identifying the current way things are done today in BioPharma logistics to understand the solution and the differentiators to Adapt Ideations. Logistics processes today have become complex and in many cases several stages throughout require close attention. Any disruptions and issues experienced can often cause significant challenges throughout the supply chain let alone when temperature-sensitive products are being handled. There are three major aspects to the supply chain that run on older archaic technologies that were exposed during this paradigm shift; Analog Channels, Dedicated Time, Barcode Tracking and Data Transfer.
One of the common challenges experienced in logistics today is the ongoing use of analog channels. The challenge lies in the difficulty of being able to have accurate details of consignments and the need to be able to process orders efficiently. This is despite the presence and ready availability of omnipresent digital technologies today. Therefore this creates more opportunities for supply chain disruptions to occur and challenges experienced with manual processing. Not to mention the cost of buying hardware and managing countless numbers of assets that require a warehouse of their own to store. Quality control is lost due to manual overlay and gaps in oversight. What previously worked by underwriting loss through baked in costs does not translate to today’s increasingly critical demand and more complex global shipments. Analog technologies will not be able to keep up with the changing digital age and thus like the pager and cassette tape, will be added to the back pages of technology history.
Logistics companies offer their clients the ability to book specific pick-up and delivery times. This assists logistics companies to plan ahead and ensure they are able to meet their client’s needs and ensure deliveries can be made on time. As a general rule of thumb most logistics providers require scheduled bookings to be made at least twenty four hours in advance. The challenge is when changes to the pick-up and delivery time are required as it becomes difficult to cater to. This in turn presents as a challenge for logistics companies as the scheduled time booked becomes less flexible. This is even more redescent with life sciences and the cold chain where products have a shelf-life and a critical delivery window. If cold chain breaches occur they can leave pharmaceuticals unviable for use. This in turn may impact delivery as delays may be experienced due to re-shipping temperature-sensitive products. Delivery delays and product damage are only one aspect of the impact of cold chain breaches as a number of other issues may follow in consequence. Time is no longer simply money, it’s lives.
The importance of barcode recording and tracking cannot be underestimated. More than ever clients of logistics companies wish to be able to monitor and track their valuable goods while in transit. Manual barcode reading presents the challenge of transparency as near real-time data is becoming increasingly important particularly in BioPharma logistics. Temperature-sensitive products such as biopharmaceuticals are at high risk due to a number of factors including the cost of manufacturing the product, limits in quantity and the time-sensitivity of the product impacting the logistics journey. To simply ensure the viability of these temperature-sensitive pharmaceuticals they must be kept in specific environments to ensure that they remain within the correct conditions.
Challenges associated with monitoring and logistics can also impact the products significantly in terms of costs and product losses. Conventional barcode scanning procedures have now become inefficient as they are time-consuming and are non-invasive compared to innovative monitoring solutions. While transporation systems can provide a sense of tracking for packages that are onboard a vehicle they are not able to provide near real-time data on a number of metrics. The IoT technology being adopted today is going to redefine this process and in due time will eradicate barcode reading all together.
As transparency between logistics providers, their clients and other supply chain stakeholders increase the need for data to be easily shared between them, relying on manually sharing data as required can lead to incorrect recording of information. This issue is further amplified by the lack of qualified specialists. Due to incorrect recording of data, the supply chain can experience several difficulties including disruptions to delivery. This is the central theme to an end-to-end data share, a chain of custody of partners, to not only interact with each other off the same data but drive innovative solutions and reduce costs across the entire supply chain through all parties aligned.
It is projected that by 2027 there will be more than 41 billion IoT devices and will continue to grow substantially in coming years
So going back to the central theme of this document what sets Adapt Ideations apart from our competitors. This is the critical question being asked of us as we embark on this journey to redefine logistics to adopt IoT. It is projected by an IoT report published by The Business Insider that by 2027 there will be more than 41 billion IoT devices and will continue to grow substantially in coming years. With a strong prediction from multiple sources including Gartner & PWC, it is believed that we will see an uptick of 50% in investment in technologies including AI and advanced analytics by supply chain organisations by 2024. Even the market leaders only make up 5-7% of that 15% market share thus the canvas to capture is wide open. The true value of innovative asset tracking and monitoring solutions is in the data that is collected allowing innovation and results to be achieved in addition to reducing costs.
Our value proposition becomes clearer when you break down the four problems highlighted above and our mission to solve supply chain and logistics challenges using IoT.
We solve all four critical questions above by offering unique IP that’s more than just near real-time IoT visibility at the source. It’s a jump from analog to digital, it’s a recalibration of time to manage, it’s a nullification of barcode technology that is outdated and manually intensive. Further, it is an end-to-end digital solution fully compliant and validated by the biopharma supply chain & aerospace sectors. We close the gaps in the supply chain and drive outcomes off near real-time decision making at the source.
We have also addressed the sustainability challenge of rising electronic waste caused by the single-use data loggers presently used by the biopharma industry – while we offer a range of single-use and reusable solutions we encourage our clients to consider utilizing our reusable solutions where possible. We are able to refurbish our devices which enables greater utilization of existing components in devices and assists in sustainability.
Adapt Ideations plans to further disrupt the present supply chain technologies by introducing a pooling system for asset trackers enabling any supply chain actor to utilise asset trackers on demand without the hassle of reverse logistics and returning the same. This would enable entities to focus on the asset intelligence and data without investments in hardware and infrastructure. The use of our digital platform further reduces the need for paper trail and by utilizing a proprietary device pool that can refurbish single-use devices in a cycle preventing waste of components and cut costs to the client.
IoT devices allow data to be collected and transmitted from sensors, scalable cloud solutions, and networks. In essence, traditional supply chain models and patterns are becoming obsolete while operational efficiency is increased through the integration of IoT enabled solutions. Innovative solutions that enable data to be collected and communicated in near real-time assists in solving the challenge of lack of visibility throughout the supply chain. The result of this is greater supply chain optimization.
At Adapt Ideations we offer a range of solutions to cater to diverse use cases and the requirements of our clients. Our unique and innovative solutions are disrupting everyday asset management functions and allow our clients to protect their assets throughout the supply chain. Data collected from our IoT enabled asset tracking and monitoring solutions can transform supply chain processes entirely. Below are our range of innovative solutions:
Our most innovative solution The KELVIN Suite of Devices are cellular data loggers that are able to monitor a range of metrics such as location, temperature, shock and light and relays data in near real-time. The solution is airline safe and has automatic in-flight mode.
The PROTON Suite of Devices are passive USB data loggers that are able to monitor vital metrics such as temperature. To view the data, simply plug the USB into a computer to retrieve the report once the trip is completed.
Adapt Ideations' PIXEL is a near real-time temperature monitoring solution for cold storage. The solution allows automated notifications to be sent when set parameters are broken allowing companies to take necessary action as soon as possible.
LISA allows companies to track the location of their moving assets at any given time. The asset tracker utilises IoT connectivity to collect near real-time data such as location from the moving asset and communicate it promptly back to the business, thus increasing visibility.
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