Importance of material management in pharma industry?

Answer 1

• —To buy at the lowest price , consistent with desired quality and service
• —To maintain a high inventory turnover , by reducing excess storage , carrying costs and inventory losses occurring due to deteriorations , obsolescence and pilferage
• —To maintain continuity of supply , preventing interruption of the flow of materials and services to users
• —To maintain the specified material quality level and a consistency of quality which permits efficient and effective operation
• —To develop reliable alternate sources of supply to promote a competitive atmosphere in performance and pricing