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E-Folder - Keep Your Suppliers Eager With a 70/30 Split
To keep your suppliers on their toes, try this smart tip I learned fr
According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product
om the Group Purchasing Manager of Asia Pacific Breweries.
Whenever
Whenever
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
e contracts to purchase items from more than one supplier, he gives o
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
e vendor 70% of the total purchase, while a second vendor gets 30%. A
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
d he tells them both exactly what he is doing.
Why this unequal spli
Why this unequal spli
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
? And why tell the two suppliers about it? Here’s why:
If the first
If the first
ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc
endor does a good job, she knows she is keeping well over half the to
easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi
al purchase volume. But if she does a poor job, she knows she stands
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
o lose more than half of what she is currently supplying.
On the oth
On the oth
and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ
r hand, if the second vendor does a great job, he knows he could more
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
than double his orders if he takes over from the first vendor. Howeve
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
, if he does a poor job, he knows he is dispensable as he supplies le
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
s than half the company’s required volume.
This is an interesting te
This is an interesting te
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
hnique for motivating supplier partners that smart purchasing manager
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
understand. Now you know about it, too.
Key Learning Point
Effecti
Key Learning Point
Effecti
t?
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
e programs with your supplier partners help everyone succeed. Be deli
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
erate, and creative, in your contracts.
Action Steps
Identify your
Action Steps
Identify your
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
ost important supplier partners. Review your agreements with them on
.
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
regular basis. Be sure they are motivated to give you the best servi
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
e they can right now, with an eye towards more business in the future
tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products
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