Incoterms- the global language of business
"If I am selling to you, I speak your language. If I am buying, dann müssen Sie Deutsch sprechen."
Willy Brandt (1913-1992)- German statesman, awarded with Nobel Peace Price in 1971 for the effort on building what would become a modern EU.
Until not so long ago, the international business was about incredibly complex art of sweet talking, knowing international regulations, business language, body language, products, prices, competition, the entire industry, and political tendencies. Thanks to the International Chamber of Commerce (ICC), the business language is not part of the equation anymore. Namely, ICC started putting into practice uniform business language back in 1936, but the set of terms known as Incoterms kicked in hard with the growth of EU and globalization (in the last three decades). Today, everyone uses the same set of standard terms (at least those who took business seriously) which reduced the misunderstandings to a minimum. Some Incoterms are common in the pharmaceutical industry. In this article, we will talk about the most important ones. Read them carefully, they might save you a lot of trouble some day and buy you a lot of credibility.
9 chit chat tips to start a smooth business conversation
Pharma relations will most of the time stand for years but, every relation starts with convincing the other party that you're the best partner. No matter how good you are at the negotiating table, getting there takes time, effort and a whole different set of skills. Once you start setting up the business details by negotiating the deadlines, the budget, and other formalities, the chances are you will get out of that meeting with something at your hands. But, no one ever walked into the meeting and started doing business just by sending a formal sounding wall of text by email a couple of days earlier. After all, no one prefers a salesperson with a personality of Siri or Alexa over fun and witty personality with excellent table manners and broad education.
I’ll stop beating around the bush, small talk is the skill we are going to talk about today.Read more
This is what you need to know about the difference between GMP, DMF, CEP & WC
The pharmaceutical industry has some bureaucratic sides to it, but it's for a good reason. In the end, most APIs and medicine are intended for taking care of patients. Keeping that in mind; manufacturers, distributors and the like are required to live up to certain high standards as set by, for example, international agreements, their local government, or other organizations. This article we will be handling the main types of certificates or documents as present in the pharmaceutical world.
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The global market changes at a pace we have never seen before. More and more business rely on digital marketing and pharma is not an exception of this rule. Actually, the pharma market with all of its segments is probably one of the biggest business systems that’s in the process of migrating online. For example, some of the biggest pharmacovigilance companies in the world with thousands of employees already operate almost exclusively online. Pharmaoffer is a modern way of doing b2b business. It's a similar approach like Booking.com, Airbnb or Amazon but then for pharmaceutical raw materials. Buyers can search for APIs or Excipients and we show all available suppliers. Companies on top of our result page get 83% more orders than other companies. Are you selling APIs/Excipients and are you curious about how to draw the attention of our search engine and buyers? Read on, this article is all about optimizing an account on Pharmaoffer, so once you set it up, you can touch the ground running!Read more
The future of B2B pharma
Millennials are taking over- for some it might be frightening, for others cool- it doesn’t matter. The generational gap has never been so big as between the Millennials (born between 1977-1994) and Generation X (born before 1977), not to mention Baby boomers (born before 1954). The world changes at a pace like never before in history and technological advancements brought a new business culture as well.
In the coming year, those determined to survive on a harsh market like pharma will have to readjust their sales to catch the winds of Millennials enthusiasm. Those who think it’s too early to care about increasingly loud roars of the generation could easily float into the oblivion in the coming years.Read more