Third party manufacturing in general means outsourcing of the products or getting manufactured one brand’s name from another manufacturing unit. As the world of drug manufacturing becomes more complex and expensive, and maintaining strong manufacturing deadlines becomes more challenging now. Many pharmaceutical companies are exploring the benefits of outsourcing drug manufacturing processes which is known as third-party contract manufacturing.
In the dictionary of the Business world Third-party manufacturing has a definition: “Production of goods by one firm, under the label or brand of another firm”.
First of all, you need to make a list of your products which you want to manufacture. Also, you need to finalize the minimum order quantity and composition of the product. Once you finalize the order quantity, you will know the minimum order quantities and different batch sizes for the composition. This will reduce further confusion related to product quantity.
The next step is, finding out the company that is well known and has a number of years’ experience in the Pharma business. There are many ways by which you can reach the manufacturing company such as by sending a mail or held a meeting on a particular day or through other sources. Make Discussions with the company related to the products, their price quotations, quantity, timely delivery, mode of payments, etc.
After the selection of the product list and searching the right third-party manufacture, now you will send a quotation to third party manufacturers in which include all the information and costs of the products, cost of packaging material, securities. It also includes miscellaneous charges that you would have to pay for the contract manufacturing process.
Next, you need to submit a few documents to get actual products. Few basic documents are like:
Keep your entire document ready whenever you plan for a TPM.
After the documentation, you will pick the best design for your products according to your needs. Once you confirm the design, it will go to the printing for the final packaging. Moreover, it will need to include:
After getting manufactured products but before the actual delivery of products, it is ensured that all the documentation and quality testing has been done as per the correct procedure and instruction. A final Performa receipts you will get and you have to pay accordingly. Your manufactured products will then be dispatched through your preferred transporter after submission of documents & clearance of accounts.
Third-party Manufacturing services are very professional and they have the ability to improve your pharma product. Their expertise and professionalism assure that you will get quality products. These qualities make them a good choice for anyone.
If you are interested to get into the pharma field, you can read the article How to start Pharma Company; this will guide you step by step and provide the easy way to start a Pharma Company.