Supply Chain Management - A Key to Value Creation in Pharma Industries

Supply chain management - delivering the right product to the right place, at the right time and at the right price - is one of the most powerful engines of business transformation. It is one of the leading cost saving and revenue enhancement strategies in use today. It aims at integrating the company's internal systems to those of its suppliers, partners and customers. Effective and efficient management of procurement will fulfill the objectives like (1) support to operational requirements, (2) manage the procurement process and the supply base efficiently and effectively, (3) develop strong relationships with other functional groups, (4) develop integrated purchasing strategies that support organizational strategies, goals and objectives. Effective integration of an Organizations supply chain can save millions, improve customer service and reduce inventories. The outcome of research will help small, medium and large manufacturing organizations to use their resources optimally and generate overall long term growth.