Postponement: the solution for biotech packaging
Postponement packaging, or late-stage customisation, is the supply chain practice of keeping a product in a standard format for as long as possible, only making it market specific – or even customer specific – at the moment demand arises.
THIS form of packaging has the potential to allow drug firms to supply products more efficiently and respond effectively to variable market demand. This article outlines how adopting postponement packaging could benefit the pharmaceutical industry, including catering for increasingly complex products, such as biotech drugs.
The postponement principle
The idea behind implementing a postponement strategy is to enable drug manufacturers to react quickly to changes in the market. In keeping products market-agnostic until there is a specific market requirement, companies can lower working capital by reducing their finished goods inventory. They can also avoid the waste produced by repackaging products that have previously been prepared for another market or in compliance with a regulation that has since been updated.
Rather than finalising a product and moving it to its relevant country, the product can be partially prepared and then stored in a centrally located warehouse until such time as it’s required. At this point, it can be tailored accordingly and shipped in days or even hours.
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