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biomed



Sales and distribution administration (gmsi409)

SPECIFIC CASE STUDY ANALYSIS

BIOMED

Component Leader: Vipin Agrawal

Posted by: Punita Gadhok (PGDBM)

Submitted in: 14. goal. 2014

STAND OF MATERIAL

Synopsis

Case Concerns and Problem Identification

Essential Analysis

Substitute Solutions

Tips

SYNOPSIS:

About Biomed and Thai Medications:

Thai Prescription drugs which was a household owned organization provided a lot more than 100 components of drugs. It had been one of the 169 small-to-medium sized local Thailander pharmaceutical suppliers. The main durability of Thailander Drugs was its over-the-counter market, selling to drugstores. The presence of Thai Medications was outweighed by the five large firms and also foreign manufacturers which usually accounted for much more than 50 percent and 65 per cent of Thai pharmaceutic market respectively. In 1990, Thai Medications began to use existing developing capacity to expand into the general pharmaceutical marketplace. Biomed was therefore build as a subsidiary of Thai Drugs to be able to sell generic pharmaceuticals towards the market. About Sales Force and Organization:

Ponlerd Chiemchanya who had simply completed his MBA on the Ivey Business School in May 2006 rejoined Biomed while the new Basic Manager. Biomed was fundamentally a revenue organization which will comprised of a sales manager, 11 revenue representatives and various product sales administration sales person. The part of the salesperson however , was complex because the Biomed sales force was the just source of get in touch with or means of communication with the customer. The overall compensation bundle of Biomed was in par together with the rest of the sector. The commission payment and benefit payments in the salesforce were deduced on the volume of sales generated. Also, every sales agent was furnished with a basic permitting of THB380 per day. It was given in so that it will cover all costs for ex: energy, hotel costs, entertainment expenses and cellphone. Such allowance further recently had an incentive section which depended again around the sales volume. Other rewards to the salesforce included a medical insurance plan and a 7 per cent contribution of salary to the Provident Account by the company. These rewards were just like the Thai Medicines employees. Current Situation:

The sales of Biomed when compared to the over-the-counter adjustable rate mortgage of Thailander Drugs had been minimal. Additional, lack of unsophisticated information systems at Thai Drugs, achieved it impossible to determine the profitability of the sales. Consequently, this have been a matter of concern to the administration of Thailander Drugs for quite some time. Consequently, within GMP (Good Manufacturing Practice) requirements had been expected to be efficient in 2008. This would even more lead to an enormous investment to upgrade the manufacturing services. Main a part of this investment was to always be emphasised around the manufacturing of Biomed goods. Biomed was required to cover THB4 million every year in set overhead to be able to meet the requirements of the big investment being done. Given the little market share as well as the small margins in the generics market, administration decided to provide 1-2 years time to Biomed in order to evaluation its stability. Also a wide range of efforts ended uphad been put in to improve the overall product sales and success of Biomed. The old approach of Biomed was analyzed and significant changes were made. Also the sales technique of Biomed was modified with fresh sales functions and goals for the salespeople. Chiemchanya returned if the new industry strategy premiered in 2006. His responsibility as a result was to style a new product sales compensation plan to fit in the modern situation. This is both demanding and high-risk for Chiemchanya. CASE CONCERNS AND DIFFICULTY IDENTIFICATION:

Strong Market Competition:

As per the 2002 figures, this conclusions could be drawn: The overall domestic marketplace for pharmaceuticals (100%, US$900 million or perhaps THB40 billion) = Overseas companies and the original items accounted for (65%, THB26 billion) +...

04.09.2019

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