PAXAFE and Carrier Collaborate to Provide Advanced Risk Mitigation and Prediction Capabilities to Power Cold Chain Distribution Networks

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Sep 13, 2023, 11:00 ET

INDIANAPOLIS, Sept. 13, 2023 /PRNewswire/ -- PAXAFE, a leading B2B software innovator in supply chain risk management, is collaborating with Carrier, global leader in intelligent climate and energy solutions, to deliver a more connected and sustainable cold chain.

This collaboration combines PAXAFE's artificial intelligence (AI) expertise in risk and prediction modeling and Carrier's leadership in cold chain monitoring and intelligence to address some of the most formidable challenges in the industry.

PAXAFE and Carrier Collaborate to Provide Advanced Risk Mitigation and Prediction Capabilities to Power Cold Chain Distribution Networks

The pharmaceutical supply chain has long been grappling with product losses and process inefficiencies stemming from stringent temperature control requirements, and has been plagued by temperature-related losses and downstream inefficiencies, resulting from the product quality management process.

The pharmaceutical industry estimates $35 billion of product loss each year due to compromised product integrity caused by temperature anomalies in the supply chain.

As part of the solution to manage and address these inefficiencies, there is a growing trend toward the adoption of real-time visibility platforms.

IoT devices and data aggregation platforms provide much-needed granular product location and condition details in near real-time. However, the challenge lies in converting this data into actionable insights. Contextualizing this data requires substantial investment from pharmaceutical companies and service providers alike.

"Through this collaboration with PAXAFE, Carrier is adding capabilities to our powerful Lynx platform to provide our customers greater visibility and intelligence, and enable proactive decision-making across their cold chain operations," said Alice DeBiasio, Vice President and General Manager, Truck Trailer Americas & Digital Solutions, Carrier. "The collaboration will offer supply chain leaders and logistics managers risk management insights to unlock greater control and resiliency within their distribution networks that will help enable them to better predict, prevent and resolve risks before they occur."

Ilya Preston, CEO of PAXAFE, said, "Digitization within the healthcare supply chain is accelerating rapidly, and we believe this relationship contains synergies that will benefit the pharmaceutical industry at large. We are optimistic that our continued collaboration with Carrier will further enable pharmaceutical companies to focus on delivering quality drugs on-time to their patients."

About PAXAFE:

PAXAFE is a B2B risk-management software provider that enables cold chain manufacturers and service providers to extract strategic value and operational insights from their visibility investments.

PAXAFE's B2B SaaS platform — CONTXT — is a device-agnostic risk-management platform that reduces product loss, improves operational efficiency and optimizes decision making for perishable shippers and service providers. PAXAFE contextualizes active and passive visibility data, quantifies risk and predicts OTIF adverse events.

PAXAFE works with some of the world's leading Life Science manufacturers and service providers and is backed by leading venture capital and corporate venture funds including Northwestern Mutual, Greenlight Reinsurance, Ubiquity Ventures, Venture53, and Jett McCandless of Project44.

Contact:
Ilya Preston
812-344-0058
[email protected]

SOURCE PAXAFE, Inc.