Teva Leverages Market-leading Temperature & Theft Tracking from FourKites to Deliver Critical Medicines Around the World

Rhea-AI Summary

Teva achieves 0.005% incident rate with FourKites' global carrier visibility solution

Positive

• Teva achieves 0.005% incident rate by leveraging FourKites' NIC-Place solution
• NIC-Place provides Teva with instant access to temperature and theft data
• Teva's successful implementation of NIC-Place includes comprehensive theft monitoring

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• None.

Together with its global carrier visibility solution, NIC-Place, FourKites enables Teva to drive top-line growth, while ensuring the highest-quality customer experience across 60 markets

AMSTERDAM--(BUSINESS WIRE)-- FourKites today announces that Teva, a global leader in generic and innovative medicines has achieved a 0.005% incident rate by leveraging FourKites’ global carrier visibility solution, NIC-Place. With NIC-Place, Teva has instant access to and can react to high-quality temperature and theft data, which saves time and avoids loss of goods.

Teva has a portfolio consisting of over 3,500 products in nearly every therapeutic area. Around 200 million people around the world take Teva medicine every day. ratiopharm is a subsidiary of Teva and Germany's best-known pharmaceutical brand. Every year, the company moves half a million pallets of its products throughout Europe, and in one its largest markets — Germany — Teva delivers and collects goods to and from 1,000 wholesalers, pharmacies, hospitals and suppliers.

A key component to Teva’s logistics operations is NIC-Place’s real-time supply chain visibility.

“With NIC-Place, we have 100% accurate temperature data for all our goods, 24/7, no matter where our fleet of 80 trucks and trailers is,” says Bernd Schlumpberger, Head of Fleet & Transport Management, Teva. “This is crucial because the temperature in the truck must match the needs of our medicines at every moment. As such, we avoid costly and time-consuming incidents.”

Teva’s successful NIC-Place implementation includes a comprehensive theft monitoring solution, delivered in partnership with tcs*, a company that specialises in monitoring transport services. This is a critical element to protecting Teva’s goods in transit.

“We have highly sensitive goods on our trucks,” Bernd explains. “Thanks to NIC-Place and tcs*, we have alarms and surveillance that monitor our vehicles 24/7. This enables us to react in real time at any moment with multi-level escalation should there be suspicious activity, such as a door opening unexpectedly in a parking lot at night. NIC-Place has enabled us to achieve a near-zero incident rate across our supply chain to ensure that we’re able to deliver the highest-quality medications at the right time.”

“The world’s leading brands like Teva are seeing first-hand how FourKites’ AI-powered supply chain visibility platform empowers leaders to make business-critical decisions that save money, improve planning and make customers — as well as partners — happier,” said Kevin Kruekis, Managing Director, NIC-Place. “We look forward to deepening our partnership with Teva, and helping them maintain an agile and responsive supply chain that meets their customers’ needs and drives end-to-end efficiencies.”

About FourKites

Leading global supply chain visibility platform FourKites^® extends visibility beyond transportation into yards, warehouses, stores and beyond. Tracking more than 3 million shipments daily across road, rail, ocean, air, parcel and last mile, and reaching over 200 countries and territories, FourKites combines real-time data and powerful machine learning to help companies digitise their end-to-end supply chains. More than 1,200 of the world’s most recognised brands — including 9 of the top-10 CPG and 18 of the top-20 food and beverage companies — trust FourKites to transform their business and create more agile, efficient and sustainable supply chains.

Germany-based NIC-Place was acquired by FourKites in January 2022. With its proprietary Data Control Center (DCC), NIC-Place provides a flexible and secure way for carriers to share supply chain data with customers, while giving them complete control of their business, their network and their data. Together, the two platforms have formed the largest multimodal carrier network in Europe.

To learn more, visit https://www.fourkites.com/.

About Teva

Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) has been developing and producing medicines to improve people's lives for more than a century. Teva is a global leader in generic and innovative medicines with a portfolio consisting of over 3,500 products in nearly every therapeutic area. Around 200 million people around the world take a Teva medicine every day, and are served by one of the largest and most complex supply chains in the pharmaceutical industry. Along with this established presence in generics, Teva has significant innovative research and operations supporting the growing portfolio of innovative and biopharmaceutical products. Learn more at www.tevapharm.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20231012687889/en/

Scott Johnston

European PR Director, FourKites

+31 62 147 8442

scott.johnston@fourkites.com

Source: FourKites

FAQ

What is Teva?

Teva is a global leader in generic and innovative medicines.

What is NIC-Place?

NIC-Place is FourKites' global carrier visibility solution.

What is the incident rate achieved by Teva?

Teva has achieved a 0.005% incident rate.

What are the benefits of NIC-Place for Teva?

NIC-Place provides Teva with instant access to temperature and theft data, saving time and avoiding loss of goods.

What is the role of tcs* in Teva's implementation?

tcs* specializes in monitoring transport services and provides a comprehensive theft monitoring solution for Teva.

What are the advantages of NIC-Place for Teva's logistics operations?

NIC-Place offers real-time supply chain visibility, ensuring accurate temperature data for Teva's goods and enabling quick response to incidents.

How does NIC-Place help in protecting Teva's goods?

NIC-Place provides alarms and surveillance for Teva's vehicles, enabling real-time reaction to suspicious activity and minimizing incidents.

What are the benefits of FourKites' AI-powered supply chain visibility platform?

The platform empowers leaders to make business-critical decisions, save money, improve planning, and enhance customer satisfaction.

What is the goal of Teva's partnership with FourKites?

Teva aims to maintain an agile and responsive supply chain that meets customer needs and drives efficiencies.