Automating Frequent Sourcing
- The process of frequent sourcing of pharmaceutical raw material like API, Intermediates Pharmaceutical Raw Materials sourcing automated with validated suppliers bulk drugs, Expecients and nutraceuticals can be automated to get Timely and good benefit.
- First the suppliers for the respective bulk drug raw materials, solvents and chemicals are identified as per the requirement of Lab, E & D or commercial purchase and validated as preferred suppliers.
- Every time the requisitions are created by manufacturing company, The system will send the Automatic RFQ to the suppliers, as they are registered as authorized suppliers in the company.
- Supplier’s responses as Quotations are received automatically through the software system, sorted by pre-defined criteria like Price or Delivery. Buyer need to just review the quotations and award the purchase order as per their selection criteria.
- This Automation process of can greatly reduce the time taken for sourcing and improving the overall Lead time and hence increase the supply chain efficiency. The Pharmaceutical sourcing companies play a major role in delivering the material to the respective site on time.
Tools For Automated Sourcing
It is necessary to use a Supply chain collaboration tool like that can provide the functionality like converting requisitions to RFQ, sending RFQ to Suppliers, ability of the suppliers to view and respond to RFQ online and submit their quotations.
Using such system tool greatly enhances the Supply chain efficiency and avoids situations like Stock Outs.
Created By: Vinita Bhandari www.getdigitalpartner.com