New Playbook from Tive & BioPharma Dive: “How to Reduce Product Loss & Achieve a More Sustainable Pharma Supply Chain”
May 31, 2023
2 min read
New Playbook from Tive & BioPharma Dive: “How to Reduce Product Loss & Achieve a More Sustainable Pharma Supply Chain”
Safeguarding these vital supplies during transit protects people’s health and contributes to the preservation of the environment
BOSTON, May 31, 2023 — Tive, the global leader in real-time supply chain visibility solutions, today announced a new playbook created in conjunction with experts from BioPharma Dive. This free playbook, entitled “How to Reduce Product Loss & Achieve a More Sustainable Pharma Supply Chain,” spotlights how pharmaceutical brands, shippers, and Logistics Service Providers (LSPs) can implement sustainable shipping practices throughout their supply chain.
The transportation industry generates 17% of total global greenhouse gas (GHG) emissions worldwide, and 28% of total U.S. emissions alone—more than any other economic segment—and protecting these valuable products during delivery helps reduce the environmental impact. In-shipment temperature failures are responsible for $35 billion in product losses, and manufacturing and transporting replacement products can more than double the GHG emissions of the original shipment.
Key takeaways from this new playbook include:
- Reducing product waste during the transport of pharmaceuticals is an often-overlooked sustainability opportunity
- The loss or spoilage of a pharmaceutical shipment due to delays or cold chain failures can have a massive domino effect on GHG emissions, company profits, and patients’ health and wellbeing
- Pharmaceutical shippers and logistics providers can use real-time shipment visibility technology to actively monitor the location and condition of products while in-transit, which reduces product waste—supporting both sustainability and profitability goals
“It is critical to protect pharmaceutical shipments—to ensure not just the health and well being of individuals, but also the health of our environment,” said Krenar Komoni, Tive CEO and Founder. “This playbook explains why safeguarding these vital supplies during transit helps both the planet and a company’s bottom line—leading to a sustainable path towards a healthier world for generations to come.”
A free copy of this playbook is available for download here.
About Tive
Tive is the global leader in real-time supply chain visibility solutions. More than 500 global shippers, logistics service providers, and retailers use Tive to monitor shipment location and condition in real time, gain actionable insights, and ensure end-customer satisfaction. Tive’s cloud platform, patented sensor technology, and 24/7 Live Monitoring services reduce excursions and delays, minimize rejected loads, and decrease theft, damage, and spoilage. Customers count on Tive to ensure that shipments are delivered on time and in full—because every shipment matters. For more information, visit www.tive.com.