The Importance of Pharma Logistics
The world of pharmaceuticals is bigger than ever before and this certainly is true for pharmaceuticals transportation and pharmaceutical logistics. There are more people than ever before using pharmaceuticals than ever before as well. As a result, the value of pharma logistics has been higher than ever before but this is an industry that is relatively unknown to the average person.
The shipping industry is absolutely huge and has a reach that is definitely global. The spending in the United States on logistics and shipping managed to reach nearly $1.5 trillion in the year of 2015. Plus, it represented nearly 8% of the annual gross domestic product. This value speaks for itself and that is why pharma logistics is worth the investment.
One way to understand how the shipping world is going to change involves the world of e-commerce. The revenue produced by e-commerce is valued at $423 billion and is continuously climbing over time. This is going to require a huge shift and changes in how shipments are handled and this is even truer when dealing with pharma logistics.
The three most valuable commodities moved by the U.S. freight transportation system include machinery, electronics, and motorized vehicles. However, pharmaceutical items are just as important as these other pieces of shipment items. Here are the facts on pharma logistics:
The Value of Shipments Is Increasing With Time
The LTL market is estimated at approximately $35 billion. For those who do not know, the LTL market stands for less-than-truckload and it definitely involves pharma logistics. These are the types of item that can fit well onto a truck shipment.
Tracking Shipments and Returns Can Be Tricky And Complicated
There are so many types of shipments used across the transportation network. Now, it is obviously important to know that these types of transportation will depend on just how people use them in terms of the size of their shipment. It is essential that the right type of transportation is important and fits to size. Using aerospace logistics services is an advanced way to handle and take care of your shipments in terms of tracking and understanding where they are.
There are 12 million locomotives, rail cars, vessels, and trucks that move goods across the network of transportation. This is a huge part of the shipment process and some companies will use pharma logistics to keep track of their items. This is incredibly intelligent and helps people keep the right type of tracking software on their items.
According to the Federal Motor Carrier Safety Administration, approximately 5.9 million commercial motor vehicle drivers operate in the United States. This includes expedited freight services, LTL freight services, LTL shipping, and LTL shipping services. This is a huge part of shipping and pharma logistics. These truck drivers rely on this for income and their services are relied on by businesses to properly move products across the country.
There are companies that ship and move items across the country every single year. This is an absolutely huge aspect of commerce and business within not just the United States, but also across the globe. Tracking items through pharma logistics is one of the best ways to properly handle shipments and returns and also takes care of the incredibly difficult financial aspect as well.