Pharmaceutical manufacturers, distributors, and transportation providers all face unique pain points within their supply chain operations. As a result, these enterprises are looking at asset visibility as a way not only to mitigate costs but to use it as a competitive advantage and to generate higher-quality supply chain data both at an item level and at a network level.
The Internet of Things (IoT) is transforming the pharmaceutical industry at a rapid pace, according to new research from GlobalData. Indeed, IoT software and services in the pharmaceutical industry is expected to grow from $420 million in 2015 to $2,486 million by 2020, at a Compound Annual Growth Rate (CAGR) of 42.7 percent from 2016 to 2020.
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