Pharmaceutical &allied Industries have highest standard of quality, system, process and operation. They operate in a highly regulated environment governed by cGMP, WHO, Ministry of Health, FDA and others; which leads to inventory generation. Inventory can be in any form such as API, KSM, Intermediate, Packing material, Catalyst, etc.
The organization has inventory because of reasons such as.
Drop of project/product /molecule
Trailing quantity of a batch
Surplus or excess quantity
Vendor’s supply or pack size is more than the requirement - informed decision
Non availability of process to address inventory
Restrictions (GMP or others) to address the inventory
Product is made from non-approved vendors or vendor is not able to provide supporting documents
Products easily suitable for other applications like textile, printing, plastic, marble cutting, industrial chemicals.
Product is not meeting the particular specification – such as smell, colour, moisture, solubility, Particle size, physical appearance, contents, purity, assay, etc.
Industry needs a solution to vital issue of non moving inventory. Moreover, there is financial cost of inventory in terms of storage space, maintaining storage condition, disposal cost and interest of investment.
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