Collaboration Pharma API and intermediate Sourcing company
The supply Chain domain of Pharmaceutical API and Intermediate Industry have to implemented products for planning. One thing is felt consistently is which can be done to make procurement more efficient is Collaboration.
Collaboration is contributing information between buyers and supplier in Pharmaceutical industry. Sharing of information helps supplier to manage better (and not revealing much to your competitors) usually go long way in making procurement of API, Intermediates, Expecients, Nutraceuticals, herbal Extracts, more efficient. Right from the flexibility to suppliers to suggest alternate dispatch schedule to buyers to make delta changes in orders will go long way in managing procurement more effectively.
1. Collaboration is to talk more with suppliers about your next buy schedules and planning. Start sharing tentative buys to firm buy to the supplier or manufacturing companies. This is also maintain reasonable time duration between tentative buy and firm buy.
- Collaboration increases SCM tolerance many fold. There is information flow which is immediate, and give all the partners and supply chain in pharmaceutical industry time to react. The benefit is to increase trust and get more profitability.
- The easy way to do is to either use big software’s to basic small tools ( google Spread Sheet) can go long way on this. Share the info ASAP with SCM partners. (Supplier, Logistics, Warehouse, clients etc) can be made easy by using these software.
- Once this information sharing platforms are working for pharmaceutical sourcing and supply chain, analytics of each division will be able to make use of it 3-6 months to readjust costs around procurement.A simple example is ASN (Advanced Shipment Notice) which is done increase confidence in your supply. This gives time to warehouse to prepare in advance, some firms even start counting them in inventory ( as in-transits) . Similarly if on ordering side as from Tentative Schedule to Firm Order process is shared with supplier appropriately will help you better.
Created By: Vinita Bhandari www.getdigitalpartner.com
