What Are My Options For Reducing My Pharmaceutical Product Manufacturing Costs?

We’re often presented with the challenge of reducing the manufacturing costs of a pharmaceutical product. There are several avenues to take in reducing your product costs - so let's take a look at a few areas that can be re-evaluated for potential savings.

Look At Your Individual Raw Material Costs, And How They're Supplied

The first involves your raw materials and components. Meet with your vendors to seek cost reductions. Ask them how to reduce your costs. Some suggestions may include different ordering patterns or maybe even the way in which you receive your material. For example, a tote of material instead of numerous drums or bags could reduce your overall testing burden. The fewer containers you receive, the fewer material ID's a laboratory has to perform, and the less material sampling needed by a quality assurance group. As a start, this is a very economical way to achieve a cost savings.