Foreign trade zone expedites speed to market

Working with this biopharmaceutical company and their FTZ consultant, ICS quickly tailored and implemented a logistics plan. The ICS team worked with U.S. Customs to import the treatment into the FTZ at ICS’s Ohio Distribution Center, where it could be prepared for immediate distribution with the U.S. market. ICS worked prior to FDA approval to ensure all processes, guidelines, and departments were aligned to begin shipping out orders as soon as approval was given.

Multiple ICS departments — customer service, distribution center associates, account management, labeling and packing associates, and more — worked around the clock to prepare for this launch. Because of the hard work of all ICS associates involved, the launch went smoothly and seamlessly, exceeding the client’s expectations.

While it normally could take 30 to 90 days to get a product to market after FDA approval, ICS’s FTZ capability enabled the shipment of the treatment to the packager as soon as 24 to 48 hours after receiving the approval letter. The speed-to-market time after approval demonstrated ICS’s efficiency and ability to effectively manage a launch.

By partnering with ICS, clients can access the benefits of using FTZs, including:

• Cash flow improvement: Duties are paid once goods leave the FTZ, therefore, businesses can improve their cash flow by keeping inventory in the FTZ. 
• Efficient operations: ICS can handle storage, assembly, repackaging, and other operations within the FTZ. This allows businesses to streamline their supply chain processes.
• Regulatory compliance: ICS’s expertise in handling regulatory requirements can help ensure compliance with FTZ regulations and procedures.
• Inventory management: Goods in an FTZ can be tracked easily, improving inventory management.