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HomeProcurementEssential Procurement Considerations for the Pharmaceutical Sector

Essential Procurement Considerations for the Pharmaceutical Sector

The procurement of pharmaceuticals is a complex procedure that requires several steps and measures, involving many internal and external stakeholders such as agencies, ministries, suppliers, and manufacturers. Adequate policies, rules, and regulations are important to prevent any hindrance to the overall efficiency of an optimal procurement system to its market context.

This is part of managing a procurement and distribution system, helping to select the most cost-effective pharmaceuticals to treat common and uncommon diseases, identify and target the market needs, and select and shortlisting potential suppliers and products with the best quality. Failing to address these may lead to a lack of accessibility to the most appropriate pharmaceuticals, and subsequently wastage.

Unbiased Market Information

Having weak access to unbiased market information regarding the supplier, product quality and availability, and comparative pricing can result in serious gaps in procuring bad quality pharmaceuticals at an unnecessarily high price or getting shunned out on essential drug availability.

Having a broad range of research studies and surveys across different pharmaceutical products and suppliers helps to identify and prioritize what are the problems that will have the largest influence on the success of pharmaceutical companies. This would usually involve the compilation of physician and product surveys that would look into the satisfaction rate and the pre-and post-clinical trial surveys of patients.

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Irene Chua Choon Kiat, DPSM
Irene Chua Choon Kiat, DPSM
Irene Chua Choon Kiat has substantive years of experience in the specialized field of purchasing and logistics management. She is a member of the Singapore Institute of Purchasing and Materials Management (SIPMM). She completed the Diploma in Procurement and Supply Management (DPSM) on March 2021 at SIPMM Institute.

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