Excess inventory purchase facilitated by newly opened website
‘Move it , Cash it’ being the spirit behind Kilitch Drugs India Ltd, Director, Bhavin Mehta’s non moving material website www.nonmoving.com launch, the pharma industry is in for a revolution of sorts.
According to Pharma Biz, this website venture will accept non moving material entries under six categories from its pharmaceutical clients; they being- packaging material, quality control, finished goods, intermediaries and utility equipments.www.nonmoving.com acting as the coordinator between the buyer and seller will give them access to purchasing non moving materials within the industry. The entire purchase negotiation will be taken care of between both, the buyer and the seller, with the buyer being solely responsible for the delivery .
In an official statement , Mr. Mehta announced , “This website is as an intermediary between the buyers and sellers and will allow companies to sell their non-moving stock and other items. With pharma industry expanding and getting regulated more and more, there is a need for companies to either hive off their old equipments and instruments or make them redundant in case of no counter proposals for the purchase of these items, nonmoving.com shall facilitate companies right from raw material, packing material, quality control equipments like HPLC, GC, glasswares, chemicals and other items, all dosage forms for finished goods like tablets, capsules - the target buyer for them shall be generic distributors spread all over the country, for API manufacturers there are lot of intermediates which are nonmoving either due to want of order or change in process for the want to improve the yields.”
Elaborating on the concept he informed that companies were constantly expanding and had issues about disposing their capital equipments like Distill column plant, manufacturing tanks and many more; India being a well established pharmaceuticals industry , with enormous potential, the website, he said was a win win situation for both parties , as it led to unblocking cash by moving out the nonmoving.
“India has approximately 25,000 pharma companies of which 8000 are currently into manufacturing, holding some kind of non moving item in their factories,” explained Mr. Mehta. According to him www.nonmoving.com was presently targeting 100 companies for uploading their non moving inventories on this website.
Social media promotion on Facebook, Linkedin and Twitter has already been initiated to promote the website which according to the Kilitch Drugs Ltd, Director, is a social initiative and part of CSR undertaken by him.