Did you know that Starbucks had only five stores for 13 years, Nike took years before it broke $1 million in revenue, and Sam Walton (Wal-Mart’s founder) had two stores for the first 7 years? It did not take one single breakthrough for them to become great enterprises, but it took multiple, disciplined and even quiet transformations year after year! Yet, in today’s corporate board rooms and Wall Street, we want to see quick turnarounds (1 to 2 year) from troubled companies being rescued by heroic CEOs. We love overnight success stories, and frankly we do hear about them quite often because media likes to feature what interests the audience. Year 2009 was the worst recession in the history, and in 2010 we are already talking about recovery. Don’t get me wrong! I love to see the recovery soon too, especially starting with our local real estate market which is the worst in the nation. But, I am cautiously concerned if we are bailing out ourselves at the cost of our future generations. Patience is scarce in business world. Probably this also crept into politics, ministries, local communities, and even families. Quick fixes and reliefs are the virtues. Of course, patience does not mean stubbornness or inflexibility either. We need to adapt to new demands and emerging circumstances quickly and even instantaneously using advanced technologies and techniques. However we can still maintain patience and long-term views. This liberates the leaders to make more right decisions that would positively impact many lives even long after they are gone from their positions. Don’t we call that “legacy”? We are not here for just one time stand-up comedy. Our decisions and influences go beyond our colleagues, employees, and partners to their families, friends and communities, now and even many years later.
Real-time location and temperature monitoring, real-life business implications?
The volcanic eruption in Iceland on Wednesday (April 14, 2010) night sent plumes of ash thousands of feet into the air. The cloud has spread across the UK to Europe. Air traffic has been severely disrupted across northern Europe by volcanic ash drifting south and east from Iceland. LifeConEx has had a good number of life sciences temperature sensitive products ex or in transit via Europe to various destinations and our Life Sciences Service Centers have already taken necessary measures to safeguard the highly sensitive shipments either by safely returning back to shippers, rebooking and storing properly while clients and other parties are being informed proactively and regularly via LifeTrack.
1:34 AM (EST) / 3:34 AM (Santiago, Chile) Saturday (Feb 27, 2010), 8.8 magnitude earthquake hit the central Chile crippling the airports (at least for next 72 hours) and infrastructures. Proactively responding to the situation, LifeConEx systematically diverted, stopped, and stored properly (while monitoring temperature conditions) all temperature sensitive life sciences shipments that had already been in transit to Chile (before the earthquake) while informing clients and partners via our IT system, LifeTrack, and personal communications…
Life sciences industry outputs about USD 850 billions of sales per year. Temperature sensitive product sales is about USD 300 billions and increasing every year. The product loss due to wrong temperature controlled logistics can be between USD 5 and 10 billion of sales value (USD 1 to 2 billion production value). The WHO report estimates the global value of trade in counterfeit pharmaceuticals is between USD 32 and 46 billion. That’s serious loads of money to be saved!