PharmaCupboard assists pharma companies to sell inventory | Fusion - WeRIndia

PharmaCupboard assists pharma companies to sell inventory

PharmaCupboard assists pharma companies to sell inventory

Selling inventory on time impacts the revenue. It helps get sufficient cash in hand or bank to buy additional stock or to meet business expenses.

To help pharma companies and allied businesses sell surplus inventory online, PharmaCupboard came into the industry.

It provides inventory liquidation services for pharma businesses by selling their non-moving or slow-moving materials.

This Vadodara-based pharma e-marketplace helps pharmaceutical, chemical, and allied businesses to sell their surplus inventory of APIs, excipients, intermediates, and chemicals.

Suresh Purohit is the founder of PharmaCupboard. He launched it in 2016 to help pharmaceutical companies and allied industries to trade their excess inventory and liquidate them.

Suresh Purohit has more than 14 years of experience in the pharmaceutical industry. He identified certain problems associated with pharmaceutical and chemical businesses.

The change-over products and internal and external conditions lead to trailing quantities of materials and surplus inventory. Such materials are often wasted.

PharmaCupboard came into the industry to fill the gap. It provides required information and materials to pharmaceutical and allied businesses to use such inventory effectively.

PharmaCupboard will not accept the material of scrap grade. The inventory materials should be in usable condition for buyers.

The APIs should have at least six months of shelf-life. It also allows to sell other materials like solvents, key starting materials, flavours, by-products, catalysts, chemicals etc. on its platform.

The startup works on sharing economy concept for the benefit of both the buyers and sellers.

Buyers need to register with PharmaCupboard by paying ₹1,950 plus GST to buy products from them. It is valid for six months. They have to pay again after six months.

The startup offers different packages for sellers. Their typical package is ₹200 per line-item plus GST for uploading with a description of products.

The startup has a team of four members. They actively work. The startup operates from non-metro cities like Vadodara. It has direct connectivity with Delhi, Bengaluru, and Hyderabad. Besides, it is near to many popular cities like Ahmedabad, Ankleshwar, and Mumbai. As Vadodara is a non-metro city, overhead costs are lower, and traffic congestion will be lesser.

Image Credit: Pharmacupboard

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