Parsyl enables PFSCM to increase supply chain visibility and reduce insurance claims through a better understanding of temperature fluctuations during transport.
In 2021, PFSCM equipped nearly all its cold chain (2°C to 8°C / 35.6°F to 46.4°F) and frozen shipments with data loggers. Many of these shipments contained Parsyl devices, which monitor and capture valuable information about the temperature and humidity commodities are exposed to during transportation and storage. This data is used to better understand shipping conditions and more effectively manage risk should any irregularities occur.
PFSCM also needed an insurer who understands and provides solutions for the risks associated with distribution in the developing world.
Bundled with temperature monitoring, PFSCM became the first policyholder with Parsyl’s Global Health Risk Facility (GHRF), which provides insurance coverage specifically designed to insure the storage and transportation of life-saving health products globally.
Increasing supply chain monitoring and data collection has led to improvements in supplier accountability, a drastic reduction in insurance claims, and a rate reduction when the policy was renewed—all while shipment volumes had increased by 60%.
“ Parsyl has been a true game changer for our cold chain. We now have end-to-end visibility of nearly all of our temperature sensitive shipments and an integrated insurance program that helps us improve our overall risk.”
Michael Harrigan, Chief Quality and Risk Officer, PFSCM
Recently, Parsyl monitored a shipment of in-vitro diagnostic kits and Covid-19 related reagents as it made its way from Belgium to Mozambique over several days. Parsyl provided enhanced cold chain monitoring of the goods, allowing PFSCM to verify product quality was properly maintained at critical waypoints: from the manufacturer, to the freight forwarder, at the departure and arrival airports where passive cooling packout is done, along the South Africa–Mozambique border crossing, and at the final destination in Mozambique. Throughout the journey, Parsyl fully monitored and recorded temperature conditions of the goods.
Enhanced monitoring combined with accessible insights gave PFSCM peace of mind that goods were properly handled during the journey and that no corrective action was needed. Upon arrival PFSCM was able to quickly release the goods with confidence.
With Parsyl, PFSCM has been able to:
- Drastically reduce insurance claims
- Increase monitoring and control
- Increase supply chain visibility & data return
- Increase 3PL ownership and accountability
- Take proactive improvement measures based on monitoring data
- Qualify for reduced insurance rates
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