Introduction
There are a number of trends currently happening within the consumer health industry, generally driven by consumers who are now more proactive about health and wellness. Self-care, mental health and well-being awareness, and the rise of e-commerce are among the top factors that contribute to the growth of the consumer health industry. While this may sound like ‘ka-ching’ for consumer health manufacturers and retailers, a clear understanding of how to ensure operational efficiency while being able to tap into the growing market is very crucial.
How Consumer Health Manufacturers Can Tap into Industrial Trends
1. Improve Logistics Management
Many manufacturers will store or conduct manufacturing processes in multiple warehouses. If the movement of stocks across multiple warehouses is not properly managed and tracked, the delivery and the quality of the products may be greatly impacted Utilising a system that allows easy tracking of stock movement to and from different warehouses will not only increase logistics efficiency but will also save operational costs and time.
2. Integrate Processes Within the Supply Chain
Interrelated processes such as production, inventory control, accounting, purchasing, and delivery should be integrated and streamlined to ensure smooth supply chain movement. An integrated and centralised system will certainly help streamline all these processes.
3. Improve Stock Management and Traceability
Most consumer health products have expiry dates. In the case of product recalls, having a system that allows manufacturers to trace batches of products would be very beneficial. Being able to track products and materials according to batches is important to avoid bottlenecks, understocking, or overstocking.
4. Deliver Products On Time
Consumers are making fewer doctor appointments ever since the pandemic hit. Many consumers or patients rely on over-the-counter (OTC) products such as supplements and other types of regular medications. Therefore, being able to deliver products on time to distributors or retailers is crucial to ensure consistent and continuous product supply to consumers.
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