You’re running a pharmacy or a grocery store. And the cost of buying medicine seems to be reaching new highs each month. And while wholesale pharmaceuticals could solve a lot of your problems, finding the right pharmaceutical products wholesaler is easier said than done.
Or maybe that’s not you. Maybe you’re a frugal individual who’s looking to cut down on the cost of medication each month. Or perhaps you’re the head of a research team that’s in search of a supplier that can keep you well-stocked for the duration of your study.
In any case, you’re thinking about working with a few pharmaceutical wholesale distributors. And you’re trying to figure out the best way to pick a company. If any of this sounds familiar, you’re in luck. Read our list of tips to find out how you can buy wholesale pharmaceuticals with minimal stress and fuss.
- Make Sure Your Distributor Is Reliable
A few years ago, dropshipping through Alibaba was all the rage in entrepreneurship circles. “You don’t have to make the products!” “All you have to do is place orders after you’ve received the money!”.
However, for many people who were based in the U.S., the business model just wasn’t sustainable in the long run. Why? Because shipping times and quality control often varied dramatically from supplier to supplier.
When you’re running a clinical trial, securing inventory for your pharmacy, or just plain trying to secure generic drugs while staying on top of your finances, the last thing you want is to be hearing things like, “We’re not sure when your shipment will arrive.”. The health of your patients, your timelines, and your personal needs are at stake with these sorts of delays.
If 2020 has taught us all anything, it’s that disruptive, once-in-a-lifetime events can and do happen. And when the going gets tough, a top-notch pharmaceutical products wholesaler can really prove its worth.
- Have More Than One Pharmaceutical Wholesale Distributor
Sometimes you can do everything right when it comes to your inventory. You can order on time. You can have a state-of-the-art tracking system. But despite your best efforts, your supplier may not be able to keep up with the demand. When your patients are blowing up your inbox, even the slightest shortage can have major implications for your business. If you’ve got a secondary wholesaler, however, a supply issue with your primary contract doesn’t have to end in crisis.
Of course, you don’t want to go overboard with this. Having third, fourth, or fifth-string suppliers may seem like the perfect way to future-proof your operation. But securing contracts and keeping up with all of those suppliers may not be the most effective use of your time.
That being said, if you’re ever in a situation where the price of your meds has spiked or you’ve got problems filling your order, it never hurts to have the phone number of a backup wholesaler.
- Be Careful With Substitutions
Even if you’re bypassing the big name brands in favor of purchasing generics, you may still find that you or your patients have certain preferences that you feel comfortable with. However, if and when supplies run low, it’s not unusual for distributors to offer other drugs as replacements.
But the reality is that even if the clinical effects are supposed to largely stay the same, medicine can’t always be swapped out on a one-for-one basis the way that some consumers might treat Pepsi and Coke like they’re interchangeable.
In 2015, Melissa Schilling observed that the non-medicinal ingredients in generics as well as the latitude off-brand drugs have when it comes to effectiveness, can have a profound impact on how people take to having their meds swapped.
This isn’t to say that substitutions should be avoided at all costs. But, you may want to be cautious about allowing your wholesaler to make automatic substitutions.
- The More Services Your Distributor Offers, The Better
From the outside looking in, nobody would blame you for thinking that all a wholesaler needs to do is just fulfill the order and ship the product. But as much as a distributor helps you by simply being reliable and timely with your shipments, good pharmaceutical wholesalers can help you out in more ways than one.
Between politicians and the concerned public, regulations around different drugs can change in the blink of an eye. Many top pharmaceutical wholesalers will provide news, tips, and analysis on the latest regulatory changes and rulings.
Similarly, many pharmacies will offer amazing services to customers. But getting the word out there is a job that sometimes stumps even the most seasoned marketers. In an effort to help out with sales, it’s not unusual for wholesale pharmaceutical providers to offer marketing assistance to clients who ask.
Whether you’re looking for clinical trials supply or you’re trying to get more people to visit your pharmacy, you and your wholesale distributor both have a vested interest in seeing your operation succeed. If you can find a supplier that’s willing to go the extra mile, you’ve won the pharmaceutical supplier lottery.
Wholesale Pharmaceuticals: Your Ticket to Securing Affordable Meds
Whether you’re a researcher or an independent pharmacist, having access to affordable wholesale pharmaceuticals has the potential to be a major difference-maker. And thanks to the tips we’ve just provided, finding the right supplier has never been more straightforward.
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