What is the most crucial decision when you launch a pharma PCD company? It is the selection of the company. If you don’t do it well, the business is at a high risk in spite of you putting efforts to make it successful. Imagine a situation where you get into a contract with a PCD pharma company India which has got P2P license. It gets products manufactured by several manufacturers.
Your business may face many problems in such a situation. The blog discusses it in detail.
Availability of the product
It is perhaps the most awkward situation in a PCD business when you don’t have sufficient stock. All your marketing efforts go in vain. Since the pharma company you have associated with doesn’t have manufacturing of its own, it doesn’t have any control over it. It may result in having no stock (or low stock) for a long time. It is a massive loss of business. Your customers do not wait for long. They switch to your competitors and never turn back. You lose the trust of your customers.
You have to deal with quality issues
When you get associated with a pharma company which doesn’t have a manufacturing facility, you face quality issues. The pharma company receives products from different companies; it is difficult for it to keep a close watch on quality. Also, the pharma company can’t enforce uniform quality regulations on the partner companies. In this situation, you get the hit.
You lose trust of your customers
When your customers lose faith in the products, they don’t buy them next time. As they say, ‘if you put one effort to get a new customer, you need ten efforts to retain him”. When doctors and business partners feel uncertainty of quality and availability of your products, they get hesitated to give you a repeat order. Being the owner of PCD pharma company, you can’t afford it in any case.
You can’t expand the business
When you are dependent on the pharma company for supplies and aren’t sure about the product quality and availability, it is quite difficult to expand your business. You hesitate to explore new customers. How will you be able to satisfy new customers when the existing customers are not happy? Hence, it is critically important to partner with a pharma franchise companies India which has its own manufacturing unit. The decision of making such company your partner will take the business at new heights.