How a Pharmaceutical companies know if it is time for your company to consider outsourcing?
Here are some signs:
1. Layoffs or internal cost-cutting forcing the Procurement department of Pharmaceutical raw material companies to do more with less growth spurts increasing Procurement demands for specific projects without allocating additional Procurement resources.
2. The Manufacturing pharmaceutical companies need to add Procurement staff, increasing the perception of the Procurement department as a cost center.
3. Dealing with many vendors for small one-time purchases because there many items you procure only occasionally.
4. Existing vendors failing to identify best sources for products resulted into finding good sourcing companies for bulk purchases of raw materials like API, Intermediates, Expecients and other specialty chemicals.
5. The outsourcing is required for the Pharma and chemical companies as existing vendors failing to meet delivery schedules.
6. Project cost overruns due to the late delivery of critical raw material need to be at project on time.
If your company has experienced one or more of these challenges, it would be a good idea to start considering outsourcing of Chemicals, API, Intermediates, Expecients and Nutraceuticals. Thus it reduces the Cost of Goods and Overhead Costs for pharmaceutical procurement.
Jigs Chemical is the best sourcing option available as your out sourcing partner for better delivery and cost reduction.