The cold chain industry is a market worth $700 billion; however, half of the companies that require cold supply chain services do not have a dedicated team to ensure the safety of their products. According to a report, logistics for cold chains is a market worth $700 billion, but many shippers aren’t in control of cold chain logistics.
The cold supply chain is the lifecycle of a temperature-sensitive product, from manufacturing and packaging to distribution and point of purchase.
The cold chain helps keep goods suitable for use and consumption and reduces wasted products. Products requiring cold chain solutions include pharmaceuticals, biologics, vaccines, and vaccines, lab samples, diagnostic material, food items, chemicals, and drinks.
The effects of temperature disruptions, bad timing, and incorrect positioning of products can devastate refrigerated shipping, so information collection and monitoring in real-time is essential to ensure the health of your shipment.
But new research, dubbed “Tracing the Cold Chain – shows that only a quarter (57 percent) of businesses that deal with perishable products have an entire team dedicated to the cold chain. This study is a collaboration between FreightWaves, a supplier of global market intelligence for supply chain markets, and the specialist in the visibility of supply chains, Tive. The two companies collaborated to learn more about how suppliers’ decision-makers gather and utilize the information they collect from cold chain activities.
A mere half of cold-chain shippers have specialists
The study reveals that although Cold chain activities are one of the significant daily shipments, most don’t have a dedicated team that monitors the load.
According to the authors, a single team manages cold chain deliveries within most businesses.
When a dedicated cold chain department is in place, the average number of employees is three, as the report shows. Each Freightwaves and Tive recognize that, for smaller businesses, it is not practical to have teams specifically focused on cold chain. However, the report states that the advantages of having experts in the cold chain “should not be underestimated.”
The authors suggest that choosing the best partners to help monitor and control cold chain shipping is crucial for all shippers; however, it can be “essential for those who lack a specialised team to handle such shipments.”