|
|
CHAPTER FIVE: RECOMMENDATIONS AND SUGGESTIONS FOR FURTHER STUDIES
5.1 Introduction
This chapter attemps to summarize recommendations reached by the study and also give suggestions for future studies.
5.2 Recommendations
The study recommends that ordering cost consisted of the process of determining what a pharmacy will receive in exchange for its medicines. The pharmacy should minimize these costs significantly.
The study recommends that pharmacies should establish a purchasing policy and procedure and commit them to the pharmacy. This procedure shows how to handle specific scenarios and direct management on how to direct employees on accomplishing certain tasks that are crucial to every business regardless of size. A business is able to operate with greater consistency both in its internal and external workings if it has proper purchasing policies in place. If purchasing policy is not well stated, they affect pricing. A certain percentage of cost should be added to protect the business against fluctuating market forces, as the price of medicines does depend on its purchasing price at certain levels. It is vital to have a concrete purchasing policy in an organization so that employees know what is expected of them and what they can and cannot do. Having proper purchasing policy in place can help tp make sure all the organizations information is secured effectively. Such policies ensure that every employee understands the behavior that constitue acceptable use within the organization.
The study recommends that suppliers should look for ways to improve the lead time on their medicines. Lead time can also mean the difference between making the sale or watching a competitor sign the contract. If a manufacturer can deliver the medicines to pharmacies weeks before its competitor, it stands a better chance of receiving new orders. Owing to this phenomina, the manufacturers management and labor teams routinely hold meetings to discuss lead time improvements.
The study recommends that pharmacies need to develop partner-of-choice relationships with its suppliers and vice versa. A relationship based on price may be sufficient in some cases; it may even be the most effective strategy. buyer-supplier relationships can occur anywhere from price based to advice based relationships. Determining the most effective place for a particular relationship is unique for every pharmacy and each supplier; which makes a thorough analysis and evaluation of partners a necessary component for an effective engagement strategy. However, with key suppliers such as physician-preferred medicines, there is no substitute for a partner-of-choice relationship.
5.3 Suggestions for Further Studies
This study suggests the following areas for further research:
i. A study on the effects of e-procurement in pharmacies in Kenya.
ii. A study on the effects of single sourcing by pharmacies in Kenya.
iii. A study on the purchasing policy of pharmacies in Kenya.
iv. A study in the influence of lead time in pharmacies in Kenya.