Pharma companies are spending a boat-load of money to put serial numbers on their drug packages and homogeneous cases, and collecting aggregation data for the wholesale distributors. And in every one of those companies, their leadership is asking, “What can we do to get some value, beyond compliance, from our investments? Can we sell someone some data? Can we get some new business advantage? Can we get some new insight into our processes or into the operation of the supply chain?”
I was even present in a room recently where someone–with complete sincerity–actually asked someone to investigate the possibility that the industry could apply to a non-profit, charitable foundation for a grant to pay for the investments necessary to put serial numbers on the drug packages of companies here in the United States…because it is necessary for humanitarian reasons (blocking counterfeits)! And I was unable to convince them that it was an absurd idea, so they actually pursued it! After one phone call to one of those foundations, they discovered that… it was an absurd idea to use charitable funds to lower the business costs of multi-national, for-profit, publicly owned, drug companies in the richest country in the world.
OK, so Bill and Malinda Gates won’t pay for it. What other ideas do you have? Well, I have one.
IT’S CALLED: BRAND PROTECTION
In my view, the simplest and lowest cost way to put that investment to a use that will result in offsetting part of your costs, is to use those new barcodes for brand protection, over and above the regulatory compliance use of those codes. If you are currently spending a chunk of your budget for a legacy overt or covert brand protection technology, you may be able to shift that cost to offset the cost of serialization. If you do not currently have a brand protection technology in use, you may be surprised how inexpensive it is to deploy a solution that makes use of your investment in new 2D barcodes, and offers you greater benefits than a legacy technology.
How is that possible? Meet me at the 6th annual Pharma Anti-Counterfeiting and Brand Protection Summit and you will learn how. This one event will help you understand the latest technologies available to accomplish exactly that, and more. You will hear from the first pharma companies who are doing it. Ask them what it will do for them. Ask them what it will cost them. Ask them how easy it was. Ask them where they got it. Get what you need to bring this idea back to your company as the best way to extract value from your huge investments, beyond mere compliance.
Time is running out. Register today. See you there.