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A LSCM approach to the Romanian pharmaceuticals market

Author

Listed:
  • Mihaela Cornelia Prejmerean

    (Academy of Economic Studies, Bucharest)

  • Simona Vasilache

    (Academy of Economic Studies, Bucharest)

Abstract

The paper presents the particularities of the logistics and supply chain management in the pharmaceutical industry and discusses the factors which influence drugs diffusion speed on the Romanian market. On the one hand, customer satisfaction, as an outcome of successful customer relationship management, is correlated with the efficiency of the logistics and supply chain management (LSCM) and, on the other hand, the profits of the pharmaceutical companies depend on the diffusion speed, which enables them to obtain a better market share, over a predetermined interval. We examine the connection between these two sides of the process, aiming at establishing a relation between the qualitative side, of satisfaction, and the quantitative side, of sales. The conclusions of the study may serve as a guide for the pharmaceutical companies and the distributors, in appreciating the diffusion speed for a new product they launch on the market, or for an existing product, and in identifying the improvements in the logistics and supply chain processes which may lead to a better diffusion. The particularities of the Romanian pharmaceutical market, which are presented in this article, allow for a continuation of the research, in the form of large scale data gathering, and expanding the conclusions at a more general level.

Suggested Citation

  • Mihaela Cornelia Prejmerean & Simona Vasilache, 2008. "A LSCM approach to the Romanian pharmaceuticals market," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 10(24), pages 166-176, June.
    • Handle: RePEc:aes:amfeco:v:10:y:2008:i:24:p:166-176
    as

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    File URL: http://www.amfiteatrueconomic.ase.ro/arhiva/pdf/no24/articol_fulltext_pag166.pdf
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    References listed on IDEAS

    as
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    4. Desiraju, Ramarao & Nair, Harikesh S. & Chintagunta, Pradeep, 2004. "Diffusion of New Pharmaceutical Drugs in Developing and Developed Nations," Research Papers 1950, Stanford University, Graduate School of Business.
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    6. Aptel, Olivier & Pourjalali, Hamid, 2001. "Improving activities and decreasing costs of logistics in hospitals: a comparison of U.S. and French hospitals," The International Journal of Accounting, Elsevier, vol. 36(1), pages 65-90, February.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Alexandru Constăngioară, 2013. "Performance Metrics in Supply Chain Management. Evidence from Romanian Economy," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 15(33), pages 170-179, February.

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    More about this item

    Keywords

    logistics and supply chain management; pharmaceutical market; Romania;
    All these keywords.

    JEL classification:

    • M31 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Marketing
    • O14 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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