Delivering Patient Value for Pharmaceuticals and Biologics
Globalization has became an undeniable part of commerce over the last few decades. Supply chains have had to keep in step, passing through numerous countries to obtain goods most efficiently and cost effectively, and growing more complex as a result. And on the other end, supply chain grows more frayed in order to deliver to countless countries for consumption. In growing and established business, managing a supply chain can require dedicated teams in every area the chain touches. It’s safe to say that supply chain management is both an art and a science
Mapping out a supply chain is one of the critical steps in strategic planning process. The importance supply chain management is it helps companies define its own market and decide where it wants to be in the future. In developing corporate-level strategies, a company often needs to make decisions on whether to operate a single line of business or enter into other related or unrelated industries
What PA does effeciently?
What PA does effeciently is handling and optimizing all the many complicated facets of a supply chain, involving goods and services. And ensuring timely handoff from manufacturer to shipper to buyer, in a cost effectively and build net value is truly a challenge
Identification of the Best Local Distributors
Suppliers, contractors, and other 3rd parties play a significant role in today’s modern pharmaceutical industry landscape. Pharma companies continue to look for reliable distributors who can meet regulatory needs and ensure high-end product management. Some of the most commonly outsourced activities in the industry include warehousing and distribution. While some pharma companies try to handle these tasks by themselves, hiring a reliable and trustworthy distributor makes the process more efficient and cost-effective.
PharmaAccess experts provide comprehensive distributor management and oversight services to ensure distributors compliance with client’s business needs. Our services ensure distributors are identified across all functional areas of the organization, like, distribution, control measures, and medical affairs.
They also ensure vendors’ due diligence and qualification auditing and develop effective vendor metrics that assess each distributor to meet business goals.
PharmaAccess also works towards developing and implementing effective system procedures for initial evaluation and ongoing monitoring of distributors. The goal is to ensure oversight and compliance as an element of the Pharmaceutical Quality System (PQS). This includes:
- Appropriate documentation
- Process auditing
- Monitoring and qualifying performance of contractor groups (periodic re-qualification)
Demand Forecasting/Orders Placement
Inventory management is an integral part of pharmaceutical operations. It determines product availablity and costs structure. Demand forecasting is a multi-step process where pharma companies project market demands and stock medical materials to ensure availability of adequate stock levels, avoiding overstocking and minimiz expiry while secure out of stock situations . ensuring higher ROI for all parties and improves the relationship between all business partners . PharmaAccess uses different types of ordering processes that assist with effective order placing, including:
- ABC inventory management
Technique that’s based on putting products into categories in order of importance, with A being the most valuable and C being the least. Not all products are of equal value and more attention should be paid to more popular products “ABS Analysis”.
Having the largest inventory for items with the highest turnover—in short, purchasing or distributing inventory based on their usage.
- PAR (Periodic Automatic Replacement)
Ordering a specific amount of product automatically once a pattern is observed in the pre-determined quantity.
Logistics & Inventory Management
In the pharmaceutical sector, Inventory management includes complex systems involving interlocking and interrelated subsystems. This implies that changes initiated in one area of the inventory management system may lead to both expected and unexpected consequences in other parts of the system. The experts at PharmaAccess realize that even the smallest mistakes can cause major confusion in inventory, affecting the company’s productivity and business growth. Minor setbacks in logistics and inventory management lead to increased turnaround times, confusion, prescription errors, unnecessary expenses, and worst-case scenarios that endanger the patient’s health.
Therefore, PharmaAccess ensures you always have the most updated and accurate information to make the right inventory-related decisions. Their qualified management experts optimize logistics and inventory management procedures, reducing workload and inefficiencies. PharmaAccess provides pharma brands with an ERP system with a centralized database to help them keep all their departments on one page. The ERP system ensures distributors are always updated about business’s needs, and there are no delays in information sharing.
Management of receivables is a global issue in the pharmaceutical industry. The raw material received for the manufacturing of medicines needs to be managed appropriately to ensure there is no wastage. PharmaAccess follows lean management principles to ensure receivables are managed efficiently, positively influencing the business’s profitability and liquidity. We follow all industry standards and protocols to maintain positive distributor relationships and provide timely and accurate receivable information.