PCD Pharma Franchise is a quite popular business model in the pharmaceutical industry. In this model, a company involves a franchisee marketing and distributing the products of a pharma company under its own brand name. The rights of marketing and distribution are given to a designated geographical area.
The term PCD is an abbreviation. It stands for Propaganda Cum Distribution. The pcd pharma company that owns the products provides grants to the franchisee to market and distribute the products under the brand name and logo of the pharma company.
As a franchisee, you are responsible for taking the orders and distributing them to retailers or directly to end customers, and also for promoting the products.
Like any other business, in a pcd pharma franchise model also, the supply chain and inventory are important.
Here are some useful tips for managing inventory and supply chain
Make use of technology and digital transformation
In the modern era, any business cannot survive without implementing the latest technology. Survey says that those companies that adopt digital platforms and advanced analytics progress at a great pace and keep those far behind who cannot do so.
It is because speed to the customer is the key to success. The faster your products reach the end customer, the higher your productivity.
Advanced inventory and warehouse management software can help your pcd pharma franchise company get real-time data for better visibility and more accurate forecasting.
Inventory management software will help companies understand how your medicines move through your warehouses.
You need to be more collaborative as an organization
The goal of effective supply chain inventory management is to guarantee that the right medicines reach the right place at the right time. Isolated departments and siloed organizational data will reduce transparency, which is the essential element of ensuring effective inventory management. That’s the reason you should have a collaborative system that can facilitate a smoother flow of information across all business functions.
When your distributors have the pcd pharma company product list readily available, they have better control over products.
You should re-evaluate your suppliers and sourcing strategies
Are you one of the companies that rely too much on suppliers from a specific geographical area? In the future, you should prefer securing suppliers from a wider range of areas.
It means you must explore new alternatives.
Today, all smart PCD Pharma Franchise companies are evaluating sourcing strategies that involve local suppliers. Also, it ensures greater transparency to build resilient supply chains. You can monitor supply chain companies more closely.
Experts say that having alternative suppliers spread across geographies is a very good way to ensure an uninterrupted supply of essential goods for your business.
Not only your supply chain will become efficient through this, but it will surely help mitigate risk.
Conclusion
When your supply chain is fast and effective, you have better cash flow and satisfied customers. It is the reason; you should keep a close watch on inventory and supply chain. Follow these steps to achieve it better.
Also Read:
Importance & Benefits of Promotional Support in PCD Pharma Franchise Business
Why SEO Is Crucial For Driving Traffic To Your PCD Pharma Franchise Website?
