A LSCM approach to the Romanian pharmaceuticals market
Author:Lect. dr. Mihaela Cornelia Prejmerean, Asist. drd. Simona Vasilache
JEL:M31, O14, O33
DOI:
Keywords:logistics and supply chain management, pharmaceutical market, Romania
Abstract:
The paper presents the particularities of the logistics and supply chain
management in the pharmaceutical industry and discusses the factors which
influence drugs diffusion speed on the Romanian market. On the one hand,
customer satisfaction, as an outcome of successful customer relationship
management, is correlated with the efficiency of the logistics and supply chain
management (LSCM) and, on the other hand, the profits of the pharmaceutical
companies depend on the diffusion speed, which enables them to obtain a better
market share, over a predetermined interval. We examine the connection between
these two sides of the process, aiming at establishing a relation between the
qualitative side, of satisfaction, and the quantitative side, of sales.
The conclusions of the study may serve as a guide for the pharmaceutical
companies and the distributors, in appreciating the diffusion speed for a new
product they launch on the market, or for an existing product, and in identifying the
improvements in the logistics and supply chain processes which may lead to a
better diffusion. The particularities of the Romanian pharmaceutical market, which
are presented in this article, allow for a continuation of the research, in the form of
large scale data gathering, and expanding the conclusions at a more general level.