The Pharma cupboard came with a very challenging task given by pharmaceutical or chemical companies, as these companies having a big inventory of raw material collected at their warehouses as non-moving API, Intermediate, Chemicals. The liquidating of such inventory is of nobodies responsibilities except the owner of the company.
The Purchase department of said company has sourced this inventory a long back and are not able to return it back; the production department cannot process it for making finished products; sales & marketing department is mostly occupied with routine activities in selling finished products.
- Pharma cupboard has taken up a challenge to solve this problem, as it provide gap in the market. It provides an opportunity in the field of Pharmaceutical and Chemical Industries of unused inventory.
- The inventory is not of use in our company but useful for many other companies. At this situation pharma cupboard has recognized a need of a platform, where a buyer can meet a seller for purchasing from the list of non-moving given API, Intermediates and Excipients, Chemicals to fulfil their requirements.
- The pharma cupboard now offers a solution to these companies. The internal research show the Pharmaceutical & chemical Industries in India, which have an estimate non-moving inventory of approximately INR 20,000 crore ( $2.8 billion) waiting to put to best productive use by others.
- The “pharma cupboard” web portal is giving its users a unique opportunity to buy-sell non moving inventory by matching the buyer and seller requirements. It connects the people and best serve purpose for both sides and increase productivity and best use of resources.
- It also work as price discovery platform for ready stock material and cost competitiveness, in fact it is a portal of B2B, very much similar in function as C2C platforms of OLX.com or quickr.com serve ordinary person, but pharma cupboard serve Industrial users, where one can sell its unused items to other person in need and can put to better use then its previous owner.
This amazing concept of platform of selling this unused inventory of API, Intermediates and Excipients of pharmaceutical companies and chemical companies are mainly emphasising industries about unique solution.
Jigs Chemical a leading sourcing and trading company of API , Pharma intermediate & Chemicals suggest to make the platform (Pharma cupboard) open for traders, it will makes the market platform work more efficiently and have higher liquidity as it happens in case of exchanges where day traders make market efficient and liquidate for investors. The pharma cupboard is different as compared to pharmainfosource.com or other B2B portals for its niche unique market concept.