WIGMORE TRADING LTD, 5TH FLOOR, MULLINER TOWERS, FORMER NNPC BUILDING 39, ALFRED REWANE WAY, IKOYI LAGOS

HOURS: 6 AM -4 PM PST M - TH; 6 AM - 3 PM PST FRI

+234 1 2934174 +234 1 2934176

A Guide to Finding the Best Pharmacy Suppliers in Africa
Get in touch on Whatsapp now:

A Guide to Finding the Best Pharmacy Suppliers in Africa

The pharmacy industry is highly fragmented and complex. In any given country, there are multiple wholesalers, independent distributors, parallel importers, and other intermediaries all vying for a piece of the pie. This fragmentation makes it challenging for manufacturers to find new partners that can help them reach their goals. In this blog post, we’ll discuss how the unique challenges in the African market could make finding new suppliers difficult. We’ll also highlight a few key things you’ll want to keep in mind when searching for new suppliers in Africa. If you’re considering expanding into the African market, you might be concerned about how difficult it will be to find suppliers there – especially if you already have partnerships in other markets. Make sure you keep reading to discover more about sourcing opportunities in Africa as well as tips for finding reliable pharmacy suppliers there.

Finding the right supplier in Africa

Finding the right supplier is essential to building a strong relationship that can help you achieve your goals. It can be challenging to find the right suppliers, but there are a few things you can do to make the process easier. – Invest in supplier relationship management (SRM) – The more you can invest in your relationships with suppliers, the easier it will be to find new ones. Make sure you’re staying in touch with your current suppliers and letting them know where you’re currently sourcing from and how much you’re ordering from each one. This will make it easier for you to assess whether any of your existing suppliers would be a good fit for new customers. – Find out about your potential suppliers – You should always try to find out as much as you can about your potential suppliers before setting up a meeting with them. You can do this by checking the supplier’s website and social media accounts, or by reviewing the information in their B2B eCommerce site if they have one.

The challenges of finding new suppliers in Africa

The African market is highly fragmented and competitive, making it more challenging to find new suppliers there. This fragmentation occurs at almost every level of the supply chain. Multiple wholesalers, independent distributors, parallel importers, and other intermediaries each compete to fill orders. Additionally, the currency exchange rates in many African countries make it difficult for foreign companies to receive payment. Finally, African eCommerce sites often have restrictions and limitations that can make it challenging to find suppliers there.

How to find reliable pharmacy suppliers in Africa

To find reliable suppliers in Africa, you’ll want to utilize a variety of different channels. You may find a few potential suppliers through your eCommerce partners, but you’ll likely want to cast a wider net. – Trade shows in your region – Conferences and trade shows are great ways to get an idea of the suppliers in your region and find potential new partners. You may even find a few potential suppliers at events in Africa. – Online B2B portals – Many African countries have online B2B portals where suppliers can list their products and manufacturers can browse and select the ones they want to buy from. These portals are a great way to see the pricing and availability of products. – Key word search – You can also try a simple Google keyword search for “pharmaceutical suppliers in country>”. Be sure to include the name of your country when searching for suppliers in Africa.

The role of intermediaries in finding reliable suppliers

Many African countries have a very high rate of supplier fragmentation, which can create a lot of challenges for manufacturers. You may run into a few problems when sourcing from suppliers in Africa, such as a shorter payment cycle, lack of transparency, or less consistency. With that being said, you should remember that all suppliers have these issues to varying degrees. If you’re having a lot of trouble finding reliable suppliers in Africa and you’re using an intermediary, you may want to try a more advanced sourcing strategy. You can do this by comparing your options and selecting the one that best serves your needs. You may want to use a sourcing agent (SA), business broker, or a sourcing consultant.

Key things to look for when selecting a pharma supplier

– Reputation – You should always start by trying to find out as much as you can about each supplier. This way, you can begin to compare them and select the ones that make the most sense for your business. The best way to do this is to review their website and social media accounts. – Product availability – You should also try to find out how long it takes for the supplier to fulfill an order. You can do this by looking at lead times on the supplier’s website or by asking them directly. – Payment terms – Make sure to check the payment terms for each supplier you’re considering. You’ll want to know how long it will take for them to pay you back and what payment method they’ll use. – Service level agreement (SLA) – It’s also important to check if the supplier has a service level agreement (SLA) and what the terms are. An SLA is essentially a contract that tells you what to expect from a supplier and what they expect from you.

Conclusion

This blog post has explored the unique challenges in the African market as well as how to find reliable pharmacy suppliers in Africa. We’ve also discussed the role of intermediaries, criteria to look for when selecting a supplier, and a few tips for finding new partners in the African market. With that being said, it’s important to note that finding suppliers in Africa is a very complex process that can take a lot of time and effort.


Back to News

No Comments Yet.

LEAVE A COMMENT

Your email address will not be published. Required fields are marked *

VISIONARY, BOLD, DISRUPTIVE

Each month, Wigmore team of experts contribute to the latest insights and analysis, setting the agenda and leading the discussion on unlocking capital so you can put it to work.

Foreign Franchise Opportunities in Nigeria Explained

Foreign Franchise Opportunities in Nigeria Explained ‍ Nigeria is a country of opportunities and interesting potential for businesses that target the African market. At the same time, it’s also a...

Read More

Where To Buy Fish Feed In Nigeria

Where To Buy Fish Feed In Nigeria If you’re planning to raise fish at home, you probably want to know where to buy fish feed in Nigeria. Fish food is...

Read More

Fish Feed in Kenya: The Answer to Sustainable Farming

Fish Feed in Kenya: The Answer to Sustainable Farming ‍ Fish feed is the main input cost for fish farmers. It accounts for up to 90% of operating expenses in...

Read More

What You Need to Know Before Starting A Franchise in Kenya

What You Need to Know Before Starting A Franchise in Kenya Starting a franchise business in Kenya can be an excellent way to get experience in running a business, build...

Read More

8 Reasons Why You Should Invest in a Franchise Opportunity in Nigeria

8 Reasons Why You Should Invest in a Franchise Opportunity in Nigeria The desire to own your own business, a passion for the sector, and a desire to build equity...

Read More

Wigmore Trading, FMCG Distributors, Wholesale and Logistics in Lagos, Nigeria. Abuja & West Africa. | Wigmore Trading Nigeria | Wigmore Trading Nigeria