The Indian pharma industry is growing at a phenomenal pace of 9-10% annually. This rate is expected to grow at 15% CAGR till 2020 as against 5% globally for the same period. The pharma landscape in the country will have to innovate, develop better products, opt for better storage solutions, and formulate sophisticated supply chain processes to keep up with the competition.

In such scenario, intelligent and safe storage solutions will assume a significant importance. Storing varied pharma supplies including pills, syrup bottles, tablets can be a concern as a majority of stock is sensitive to moisture and temperature. Warehouses need to comply with GMP (Good Manufacturing Practices) for keeping the inventory safe and for better adherence to quality and reliability. What’s more, storage solutions should address the issue of – excess storage of inventory (to prevent supply shortages) and offer clear visibility of the products.

Below are a few intelligent and safe storage considerations for successful inventory management:

Selective Pallet Racking: It is one of the most versatile racking systems that provides 100% ready access to palletized goods at any time. It makes efficient use of the vertical space in a medical warehouse. Selective pallet racking allows for easy storage and retrieval of the SKUs (products can be sorted and retrieved according to their expiry dates, temperature, conditions and so on). It requires a relatively low capital investment. You can get selective pallet racking systems designed as per your warehouse parameters and material handling equipment.

VNA Pallet Racking: VNA (Very Narrow Aisle) storages are used in warehouses with limited floor space. The reduction in the aisle width increases floor space. Since it restricts the use of common forklifts due to reduced aisle space, products can be accessed or maneuvered using specialized material handling equipment. Hence, this type of pallet racking is suitable for those willing to invest in specialized equipment or forklifts.

Automated Storage (AS/RS): Stock visibility and retrieval of time-sensitive products well before their expiry date is a prime concern for pharma companies. AS/AR is an integrated automated hardware and software for precise picking of the products and aids in better inventory visibility. It automatically locates and delivers an inventory to a conveyor system or a manual outfeed. This results in zero picking error and increases the speed at which products are stored or retrieved from the storage system. This type of storage system also reduces labour cost and makes supply-chain more efficient, adding to the bottom line of the warehouse.

Fit-Right offers intelligent storage solutions for pharmaceutical companies. Every product from the company’s range complies with GMP (Goods Manufacturing Practices) and standard practices as laid by regulatory bodies. For more information about the products, visit http://www.fitright.in/, call 022-40053777 or email at [email protected].