SG7001 Managing Strategy Operations
Activity 1: Analysis of implications of the vision of Sothema pharmaceutical compan
| Vision | Extend the projects beyond Libya by adding resources and activities that were earlier, restricted to customers’ satisfaction and improvement along with continuing the medical education via science-related events by pharmacists and physicians (Sothema, 2022). | ||
| Purpose | The main purpose of the company is to make medicines easily accessible to the majority of African populations (Sothema, 2022). | ||
| Quality: 4Vs | |||
| QUALITY | EVALUATION | DESCRIPTION | IMPLICATIONS |
| Volume | High | The company produces over 60 Million Units of pharmaceuticals annually. | Because of mass volume production, there is forward integration in the supply chain. |
| Variety | High | Variety is high because the company offers all pharmaceuticals. | Because of a high variety, there is a high sale and also a diversified portfolio of catalogs. |
| Variation | Low | The variation in medicines is very low because the chemical composition remains fixed in all companies. | Variation was dependent on outside conditions, but in this industry, no variation is allowed. |
| Visibility | High | The visibility of the company is high because of a diverse portfolio of a total of 35 labs all over the world (Ajayi, 2022). | Global businesses have high visibility |
| Quality: SQFD&C | |||
| Speed | High | Because of good suppliers, the speed of manufacturing products is high | The speed of supplying consumer goods has to be high. |
| Quality | High | The quality has to be high because the goods are medications. | TQM principle is followed critically. |
| Flexibility | High | Flexibility has to be high so as to make the company capable to adapt to changes | A flexible internal environment is ensured. |
| Dependability | High | Dependability is high on suppliers for they provide raw materials at a fair cost. | Dependability of company is on suppliers |
| Cost | Low | Cost is low | Low cost is because of an efficient supply chain |
Figure 1 Vision, purpose, 4Vs and SQFD&C analysis
4Vs
- Volume: Strong expansion across all of its key operational areas drove its annual revenue up 13.7 percent, from MAD1.81 billion ($189.6 million) in 2020 to more than MAD2.06 billion ($217 million) (Ajayi, 2022). Under the direction of Chairman and CEO Lamia Tazi, who owns 3.93 percent of the company, Sothema produces more than 60 million units of pharmaceuticals annually (Ajayi, 2022).
- Variety: the company has touched almost all varieties of pharmaceuticals. The group profited from the introduction of four new high-value items in 2021, which significantly increased sales and revenue during the review period (Ajayi, 2022).
- Variation: The reason for the low variation is the fixed chemical composition of the medicines.
- Visibility: The visibility of the company is high globally because the company has implemented an external expansion strategy in business. It oversees a varied portfolio of 35 international labs that produce and market goods across Europe, Sub-Saharan Africa, the Maghreb, and the Persian Gulf (Ajayi, 2022).
SQFD&C
- Speed: The reason behind high speed is to meet the demand for medicines, which are a part of consumer goods.
- Quality: Medications have to be made and the chemicals are to be formulated in a way, that is safer for the health of patients. That is why the quality is maintained by the company and is known for serving the patients.
- Flexibility: support from stakeholders and demand for changing systems and people’s needs, make it necessary for the pharmaceutical company to stay flexible. By ensuring flexibility, the company stays quality-oriented by focusing on the needs of patients and remains efficient in serving patients (Wadhwa, Madaan and Saxena, 2007).
- Dependability: The company is dependent on suppliers from different parts of the world, who are supplying to different international branches of the company.
- Cost: because of efficient supply chain and supplier relationship management, the company’s cost is low.
Know more about UniqueSubmission’s other writing services:
