THE Guild has released a guide for members on supplier trading terms; the purpose of the guide, which is accessible through the members' only portal on the Guild's website, is to provide practical advice to members on how they can secure the best cost-of-goods for their community pharmacies. It focuses on how the supply chain works, the trends in trading terms and the practical actions that community pharmacies can take to safeguard their interests. These actions relate to choosing suppliers, monitoring supplier performance, renegotiating trading terms, and introducing better procurement, replenishment and category management practices in your pharmacy.
With the cost of goods being the largest input for any community pharmacy, their effective management is critical to the success of our businesses. Understandably, owners are concerned about a number of trends in the supply chain, including the continuing loss of trading terms, the prospect of surcharging by wholesalers and the increasing incidence of exclusive direct supply arrangements.
The above article was sent to subscribers in Pharmacy Daily's issue from 05 Dec 17
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