Three Ways A Logistics Partnership Can Reduce The Cost Of Global Expansion
By Trisha Gladd, editor, Pharmaceutical Online and Bioresearch Online
In order to meet the needs of an expanding global market, healthcare executives find themselves facing the daunting challenge of not only making their product accessible to foreign markets but also maintaining quality during shipment. I recently spoke with Robin Hooker, director of Global Healthcare Logistics Strategy at UPS, about how a logistics partnership can help reduce the costs associated with these challenges and provide advantages beyond the bottom line.
Making Your Global Footprint With a Bigger Shoe
Anyone in the healthcare logistics industry paying attention to the global market knows there are opportunities across the globe that are expanding every day, but many companies don’t have the money or resources to keep pace with the growth. “The healthcare logistics industry is facing constant cost pressures, and the challenge of expanding into new markets continues to be a topic of concern,” says Hooker. “Right now, when we look at global populations and how they are aging, we are seeing that by 2050, there is going to be an explosion in the 50+ age group, particularly in Asia. That is going to drive the chronic disease patterns that ultimately put a burden on the healthcare industry to supply and manage all of the logistics needs.” Because it would be too costly for a company to establish a branch in each of these locations, it’s important to select a logistics partner who is able to reach as many markets as possible.