This is the third blog post for NanoMatriX’s Pharma Track-and-Trace Series.
To fight against the ongoing threat of counterfeit pharmaceutical products, companies need to invest in reliable pharma track-and-trace solutions. However, randomly picking a track-and-trace solution provider might lead to compliance and integration issues, and even financial repercussions.
Therefore it’s advisable to thoroughly think through several factors listed below before making a decision.
1. Specific Requirements of Your Pharma Company
Every pharmaceutical firm must cope with different challenges to secure products, meet compliance standards, and complete specific goals.
These requirements will dictate the pharma track-and-trace solution you should consider for your firm. These requirements will also vary on the pharmaceutical product your company needs to track, your target geographical area, past counterfeit experiences, etc.
Moreover, your ideal pharma track-and-trace solution should be compatible with how your company processes, packages, and stores products.
Start by creating a list of all these requirements your company will need to cater to for maximum counterfeit protection.
2. Serialization and Aggregation Standards
Regulatory laws govern pharmaceutical companies throughout the world.
Moreover, a pharma firm has to meet complex compliance standards when targeting a global market. Navigating through these can catch up on you, and it’s best to always stay up-to-date on these matters. Close monitoring of the regulations that a government will enforce in the future should be accounted for, to not miss out on valuable opportunities.
Hence you must check the serialization and aggregation standards required in the country where you intend to sell your products. Compliance with these standards should be a key factor when deciding which pharma track-and-trace solution will work best for your company.
3. Technology Integration
Opt for secure, reliable systems that seamlessly integrate with your existing technology stacks. Compatibility with your current infrastructure is essential for efficient implementation.
Investing in a pharma track-and-trace solution only to know it does not integrate with your existing technologies will be a huge waste of time and funds.
Instead, consider the technicalities of your existing infrastructure. Then check with the pharma track-and-trace solution provider to verify if they can operate with existing technology. Moreover, consider what additional technology including hardware, software, and connectivity your firm will need to buy for smooth functioning.
4. Stakeholder Involvement
Considering the regulatory requirements intended for pharma companies, it is necessary to involve stakeholders such as corporate officers, government bodies, supply chain actors, and regulatory agencies. Align incentives for all stakeholders involved. Creating a shared vision of a pharma track-and-trace solution encourages cooperation and commitment.
Effective coordination between these authorities is crucial for successful pharma track-and-trace solution implementation.
5. Awareness and Knowledge
Ensure that stakeholders, as well as the operatives, have the necessary awareness, knowledge, and skills related to track-and-trace systems. Training and education play a vital role in smooth adoption.
Check with the provider of your intended pharma track-and-trace solution to see what training options or courses they have for their customers.
6. Regulation and Legislation
Understand the regulatory landscape and legal requirements related to pharma track-and-trace solutions. Compliance with industry standards and guidelines is essential for adherence to regulations.
Some markets such as the EU and the US need companies to comply with GS1 standards. They also imply data to be coded and printed on 2D matrices, providing information such as the expiration date, product code, and serial number in a form that is readable by humans.
Yet other countries like China do not follow GS1 standards at all, and depending on reimbursement, data reporting, and logistics, you need to comply with completely different standards.
A competent pharma track-and-trace solution provider like NanoMatriX will ideally be aware of all the nuances your company will need to cater to.
7. Monetary Investments
You will need to assess your pharmaceutical firm’s budget and financial implications before considering an ideal fit for a track-and-trace.
Estimate the rough costs your company will need to entertain. These might be related to
- Technology
- Infrastructure
- Training
- Any replacement of existing systems
- Ongoing maintenance
- Service charges
Conclusion
Choosing the right pharma track-and-trace solution could be challenging. However, depending on several factors, you can easily pick the ideal fit for your specific anti-counterfeit pharma needs. Assess the regulatory laws, financial allowances, technologies, and past counterfeit experiences to make a decision. You will also need to check with your provider to get an updated rundown of their features and how their systems can integrate with yours.
NanoMatriX has been long into the game of anti-counterfeiting measures, and depending on your unique goals and requirements, our innovative, secure pharma track-and-trace solution can seamlessly integrate with your existing systems.
Read the fourth blog post for NanoMatriX’s Pharma Track-and-Trace Series here.
About NanoMatriX Technologies Limited
NanoMatriX is a specialist in providing document and brand protection solutions. To solve our customer’s problems, we provide the following product and service categories:
- Brand-/document protection platforms
- Custom Software development
- Cybersecurity services
- Anti-counterfeiting products
- Consulting services
The competitive advantages of NanoMatriX are:
- Two decades of experience helping brand owners and government agencies fight product and document crime worldwide.
- A unique combination of rare-to-find skills in linking physical overt, covert, and forensic security features with secure digital features.
- Proven rigorous application of top cyber security and data privacy protection standards.
- Multi-lingual, multi-cultural, and collaborative corporate culture.
NanoMatriX Technologies Limited is committed to the highest standards of cyber security, data privacy protection, and quality management. Our systems are certified and compliant with leading international standards, including:
- ISO 27001: Ensuring robust Information Security Management Systems (ISMS).
- ISO 27701: Upholding Privacy Information Management Systems (PIMS) for effective data privacy.
- ISO 27017: Implementing ISMS for cloud-hosted systems, ensuring cybersecurity in cloud environments.
- ISO 27018: Adhering to PIMS for cloud-hosted systems, emphasizing privacy in cloud-hosted services.
- ISO 9001: Demonstrating our commitment to Quality Management Systems and delivering high-quality solutions.
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