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Third Party Logistics Companies or 3PL Companies provide services by setting up and running logistics operations for other operating companies. These services can be as

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

simple as brokering and managing freight flows for the customer or as complex as setting up operation of company’s major warehouse or distribution center operations.

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

etting Up a 3PL Company:

It is very important to determine the type of services you intend to provide and industry you want to specialize in. Survey and study the mark

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

et for your services and key operational areas you are considering for business. Consider the investment, cost of initial set-up, finances and funds available, complexi

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

y of operating the business, running major distribution centers for retail clients, transport systems, trained manpower and other key areas of focus. Keep in mind diffe

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

ent options and details before venturing into 3PL business.

Major companies are happy and satisfied with 3PL providers. Despite this, third party logistic relationship

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

s and outsourcing alliances fail quite frequently or suffer from cancellation of contract. To overcome this problem, keep a few aspects in mind to achieve success in im

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

lementing a 3PL project.

Successful Implementation of a Third Party Logistic Project:

Strategy:

Have an outsourcing strategy. Have a well thought of action plan abou

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

t outsourcing and outcomes against in house capabilities and availabilities. A SWOT analysis will help tremendously to understand the strengths, weaknesses, opportuniti

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

s and threats of outsourcing logistics versus in-house solutions.

Comprehensive Study:

This helps you in clearly documenting the advantages, challenges and cost benef

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

ts of outsourcing.

Documentation:

Develop standard operating procedures for all processes to be outsourced, so that there are no procedural gaps in understanding and

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

client expectations. Document points of agreement or disagreement clearly.

Scientific Selection:

Shortlist eligible service providers and other 3PL companies need to

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

nderstand their working vis-?-vis your business. Document clearly show their expectations and terms inclusive of current costs to avoid later confusions for smooth func

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

tioning of your company.

Targets:

Define clear performance standards. This will assist you to measure performance and identify area for corrective actions.

Use a Req

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

est for Information (RFI):

This tool will not only help gather information but also show up the strengths and weaknesses of other parties. Beware of over commitments o

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

service providers. Have realistic expectations.

Do Your Spadework:

Visit site, interview the existing customers of a particular service provider. Evaluate the factor

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

s required for your company like its experience, quality, responsiveness, ability to meet expectations, flexibility, management team etc.

Measuring Costs:

An effectiv

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

costing system will help in understanding the costs of outsourcing. Any activity undertaken can be measured against the pay-offs it generates. Activity based costing w

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

ill bring out the variance between projected and actual costs.

Third Party Logistics companies can offer various types of services for other operating companies. They

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

ust have a robust business model so that a viable business can be set up. Customers also must have a viable plan to implement third party logistics project successfully

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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Business organizations, small or big, have to maintain all the relevant information in the form of books and records. These documents are required for their internal use as well as to comply with various statutory provisions. A well designed business form helps to achieve these goals. Thus, business forms are considered to be one of the most effective tools for any business.

Whether you are one person working from home or a large established business, a virtual switchboard will enable you to handle incoming calls effectively and never miss another call for little or no cost.

Getting control of your business systems allows you more time and energy to focus on the business you really want to do. What do you do with the business cards you collect? Here's some suggestions.

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