Research from Study Paper:
anti-counterfeit technology be used to yield monetary benefit towards the company and mitigate any kind of negative interpersonal impact on contemporary society?
The Durability Challenge
Business Case Evaluation
Emerging Developments, Policy Frameworks, Literature and Strategy
Selection interviews Conducted
The corporation, Cure Pharmaceutical drug (Cure), is one of the pharmaceutical industry’s drug delivery technology sector. Cure is recognized as a small size pharmaceutical business with revenues of one 100 and 50 million. A technique, designed by the firm, permits patients for taking medications with out water. This kind of patented Common Thin Film Technology (OTF) is small , light and occupies much less space after packaging. The technology can be shipped in single dose form or perhaps in bulk comes to the site of patient care. Cure’s core business integrates common drugs which can be an effective treatment for a great number of diseases into their proprietary OTF technology. Cure’s main emphasis is to expand its circulation channel into emerging markets particularly in Latin America, India, and Africa pertaining to the treatment of Wechselfieber, HIV and also other infectious diseases. These markets are known for the very best incidence in counterfeit drug infiltration (WHO, 2011).
As Cure has a unique delivery system, it distributes OTF both in large form in addition to individual dosage units utilizing authorized and private brokers, the implementation of anti-counterfeit technology becomes a better challenge. In addition , since a lot of product is minimize into medication dosage form via bulk progresses at the internet site of individual care, simple tracking products in presentation may not suffice. Furthermore Cure is a tiny size firm with little redundancy in the manufacturing method, thus finding a solution to avoiding counterfeit drugs without disrupting in its procedures so that it can certainly still supply drugs to the clingy is crucial. It is additionally pertinent to adapt a strategy that allows pertaining to Cure’s objective in keeping medicines inexpensive for everyone in need. Counterfeit drugs possess a tremendous effect on not only organization sustainability but social durability as well. Once patients tend not to receive the appropriate medications, it may result in secondary infections, lack of work and increase risk in death. According to the American Australia Council of Sociable Services (WACOSS) “Social durability occurs when the formal and simple processes; systems; structures; and relationships positively support the capacity of current and foreseeable future generations to develop healthy and livable communities”(AUSPA, 2012). Since Chief Executive Officer (CEO) of Cure Pharmaceutical, I believe that it is you can actually responsibility to cope with these social sustainability issues that potentially effect our stakeholders and the communities we serve.
As CEO of Cure, I have been requested to research just how implementing anti-counterfeit technology can protect the products and also how it may help each of our overall mission of providing affordable quality therapeutics for lifetime threatening illnesses thereby setting up a socially accountable sustainable benefit chain inside our organization. Let me report my personal findings for the board of directors which represents all stakeholders within our business and later present a pitch to aid the appropriate strategy.
The Sustainability Challenge
The organization has had several internal discussions on sociable sustainability and just how it relates to protecting the value cycle, especially in the fight against counterfeit products inside the pharmaceutical sector. The fight against counterfeit medicine isn’t only a business sustainability issue; costly inherent cultural sustainability concern. Counterfeit medicine not only can cause death and prolonged health issues in a sufferer population, although also can have got a severe impact on our economy due to decrease of work, elevated health cost because of second illness and increased morbidity (WHO 2011). Stakeholders can lose beliefs in medicines and the provider’s brands that have been counterfeited. As a result, the need for more steadfast techniques or initiatives to deal with the issue of fakes has led to the need for the development of stringent and powerful measures (Robson and Mccartan 2016).
It might appear obvious initially that the company should integrate anti-counterfeit technology to the process, nevertheless there are some key challenges pertaining to the company just like costs associated with the implementation from the technology and the ability to preserve our sociable goal of affordable drugs for all. Additionally , certain anti-counterfeit technologies need modifications in existing production processes and present detailed challenges towards the manufacturers. Some of these operational problems can cause interruption in the source chain and create a scarcity in some of those essential drugs for the citizenry in need. This can have got a severe impact on the overall goal of our social durability program and also have wide unfavorable implications for the population we serve. Amongst some of the concerns about the entry expense associated with the setup, there are additional concerns about overall performance. The effects of counterfeiting are hard to measure, in equally human effects and economical loss. Unless of course baseline info are set up the effects of a great anti-counterfeiting software are as a result often difficult to demonstrate in fact it is impossible for a company to develop a successful and coherent anti-counterfeiting strategy (Davison, 2010).
Even as we continue to develop these emerging markets, the threat of counterfeit infiltration of our brand and value-chain increases. For Cure to carry on to develop these markets, the company must use self-employed brokers and secondary wholesalers often controlled by small private choices with tiny security and control over all their distribution string. Since coming into the appearing market sector, Cure provides seen a five percent increase in counterfeit products penetrating its division channels over the last eighteen-month period. Despite the risk, the appearing markets provide strong expansion potential in fact it is critical to Cure’s total mission of distribution of affordable important medicines to populations in need. Physique 1 under depicts the future growth in the emerging marketplaces.
FIGURE 1 . Future Development in Appearing Markets
Even though the company features taken various measures to make a sustainable benefit chain including auditing the suppliers, validating material, green packaging, and efficient strength use during manufacturing procedure, water work with reduction and testing most components, we have not yet dealt with the issue of fake infiltration in to our source chain. Multiple options can be found – by RFID, coding/printing, holograms, security-labels to track and trace, tamper evidence features and end-use design (Markets Markets 2016). As talked about, Cure confronts extreme weakness in its division chain as a result of heavy dependence on non-public or independent brokers and secondary bulk suppliers to help effectuate distribution in to the emerging markets, specifically the agricultural hospitals and clinics. In an interview with Wayne Nasby the Chief Operating officer and head of logistics intended for Cure this individual pointed out that, “most independent brokerages and wholesalers have no way of determining if a product inside the distribution cycle is counterfeit and in simple fact some of the agents are bad actors themselves. ” Figure 2 beneath depicts Cure’s current syndication component of their value chain utilizing personal brokers and secondary wholesalers without any anti-counterfeit technology. The flow via secondary wholesaler to personal brokers is considered the most vulnerable part for counterfeit infiltration in to Cures syndication chain.
Number 2 . Cure Pharmaceutical Circulation Arm of Value Chain
Business Case Analysis
Emerging Trends, Policy Frames, Literature and Strategy
The process of defeating counterfeiting in the pharmaceutical market has wider sustainability significance due to the level to which counterfeiting impacts most sectors of markets all around the world, undermining the social purchase, causing buyers to truly feel insecure in their purchases, loss in work for poor treatment and maybe death (Hamid, Ramish 2014). Just as Norton Guarantee in conjunction with Symantec technology has become well-liked for online business firms in recent years (promoting the idea of secure World wide web transactions), the pharmaceutical sector stands to benefit from handling the issue of security when it comes to providing an authentic item to consumers wherever they may be in the world.
Firms like Remedy must be creative in fighting activities which can be hard to root out. One way to do that is to apply anti-counterfeit technology in the delivery and distribution process. Taking positive transform for environmentally friendly development is the key factor here, and anti-counterfeit technology is known as a variable that could make an enormous difference in the way that firms control goods during the delivery process. It is in the business, and the customer’s interest why these protections become implemented while the company is responsible for not merely producing a product that works also for getting it towards the shelves and into customers’ hands unblemished and uncontaminated in the exchange (Hamid, Ramish 2014). It is true that counterfeiters can easily duplicate measures usually within just 12-18 months of setup, which requires deliverers to implement a rotation approach; however , the general assessment of researchers is strategy can be imperative mainly because without that there is no make sure products are arriving as advertised around the box (Bansal, Malla, Gudala, Tiwari 2013).
Abel (2010) reports that anti-counterfeiting procedures are on the rise in the pharmaceutical market, which is actively engaged in lowering counterfeit medicine cases. Quotes given by the earth Health Firm show that “10% of most pharmaceuticals inside the global source chain today are counterfeit and that occasionally the fake drugs include toxic substances and chemicals that could cause death”