When is a Pharma Turnkey Solution the right decision?
Turnkey solution is for a business that is already up and running and requires a service a product that might not be feasible for them to provide themselves. It is an immediate solution (ready to use) to fulfil the needs of a project or process. The businesses these days face a wide range of challenges which forces them to diversify the type of products and services they are offering.
A business may not always be prepared to venture out into the manufacturing of a new product or providing a new service. However, there is the option of selecting a pharma turnkey solution provider who can understand the product requirements and business needs to provide a tailor-made solution. Implementing a solution like this voids the need for the company from going through the entire process of establishing infrastructure and devoting resources to this project.
Reasons to opt for Pharma Turnkey Solution
The main reason why businesses opt for a turnkey solution is that it is ready to use solution. It releases the business from having to worry about the quality, design and completion of the project; thus relieving the pressure on a business.
Listed here are a few reasons why this solution is the right decision for a business:
- Opting for this solution will reduce the time it takes to implement the solution and overall execution time. Thus, when there is a time crunch with a project, this is the optimal solution.
- Outsourcing in this way ensures that all matters pertaining the pharma project are handled by a single pharma turnkey solution provider making it easier for the business to manage the project and help cut costs.
- In the case where there is a change of requirements; it saves the business from having to make changes and re-implement the solution; since it then becomes the responsibility of the solution provider to handle it.
- It is hard for a business on a limited budget to set up the resources for a small project; since it may not be practical; thus making the pharma turnkey solution the optimal solution.
- It is hard for a business to remain competitive with limited resources and funds to spare at times; however, opting for this solution gives them a lifeline.
- Handling all aspects of a project is not easy. In the case of a pharmaceutical project, it is likely to mean having to deal with multiple contacts and stretching the resources to the maximum to ensure project completion. Not all firms can handle it or have the resources to handle it. Turnkey solutions are the best option in this case.
Many pharmaceutical firms are faced with the challenge of increasing their production efficiency and reducing the cost of operations. There are advances in technology on a daily basis and the pharmaceutical firms need to update their processes to keep up with such changes and advances. This means they would require more skilled personnel, the expertise of a consultant and update their technology to be able to remain in the competition.
For a firm that is unable to handle implementing new technologies, some of the common solutions include mergers or acquisitions. However there is another option, that is the pharma turnkey solution which offers immediate solution to this problem.
This type of solution provider is a one-stop solution for the manufacturing process and packaging of products like tablets, capsules, liquid syrups, injectables, IV fluids, etc. They offer a complete solution from the planning stage to arranging the resources and production. At the same time, they also handle the feasibility study, investigate the concept and manage the project.