In the fast-paced, global economy of today, prompt and reliable shipping is more important than ever for businesses. No matter where you plan on shipping, consumers and business partners expect delivery more quickly.
Expedited services have a profound effect on supply chains. For many businesses, using this type of service is actually becoming more of the norm rather than an emergency solution. Shippers know that they can spend more time on packaging and quality control knowing that they can expedite delivery. And while this may cost more, the benefits of a larger shipping window typically exceed the drawbacks in the life sciences space.
Expedited shipping is gradually becoming a tool that many companies are using as an insurance plan to compensate for the unexpected or unpredictable scenarios. Pharmaceutical companies are a great example of an industry reliant on expedite. There are various reasons that are specific to pharma that support the use of expedited shipping on a regular basis. Some of these include:
- Getting products to market faster. This is an on-demand world; the expectation from consumers is that products are available now. This has become less and less dependent on the type of item; whether it is broadly consumed items like vials, or more specific products, like insulin.
- Marketing forecasts aren’t precise enough to adequately predict the ebb and flow of demand. Although the science of predicting supply and demand is better, it can only account for the major probable scenarios. Acts of God are a good example of forces that may delay the process and result in expedited shipping. If a company plans ahead and anticipates delays, it won’t be caught off-guard.
- The increased cost of expedited shipping is more absorbable and is significantly less than the costs of shorting the market. The risk that can have negative, compounding affects to not only consumer confidence but most importantly, the patient’s health is shorting the market. When everything your company stands for relies on the certainty that a prescription is available when it’s needed, the cost of expedited shipping pales in comparison.
At Langham, it has always been a priority to continuously improve and innovate our cold chain and controlled temp services, especially working with pharmaceutical companies. If you would like to know how expedited shipping can help get your products to their destination faster, contact us today.