Supplier Selection
Background
- A leading pharmaceutical company needed to identify and select suppliers for a critical raw material (API) Metformin, to ensure the quality and reliability of their supply chain
Challenge
- Quality: Ensuring stringent standards
- Reliability: Minimizing single-source risks
- Compliance: Adhering to regulations
Solution
- Identified Potential Suppliers: Market research to find Metformin API suppliers, screened for production capacity, location, and quality certifications
- RFI Process: Focused on production capacity, quality certifications, manufacturing processes, regulatory compliance, financial stability, and client feedback
- Supplier Ranking Matrix: Evaluated based on quality, cost, capacity, compliance, and past performance
Impact
- Risk Reduction: The client onboarded three suppliers, diversifying their supply base and reducing dependency on a single source
- Quality Assurance: Ensured high-quality Metformin API by selecting suppliers with proven records and robust quality control systems
- Regulatory Compliance: Strengthened compliance by partnering with suppliers who met all necessary regulatory requirements
