PharmaCupboard.com is a pan-India e-marketplace for inventory liquidation. It is one of the India’s largest e-marketplaces specialized into buying and selling usable & unused materials. It is a unique web portal helping pharma, chemical and all allied industries to sell their excess, surplus materials such as Chemicals, Solvents, Bulk Drugs (API), Intermediates, Excipients, Catalysts and Packing materials. It is trusted by renowned companies such as Dr Reddy’s, Torrent Pharma, Cadila Healthcare, Lupin, Wockhardt, Cipla, Unichem, ZCL, Biocon, Glenmark and Jubilant. It had been nominated for India Pharma Awards 2017 as Digital Pharma Innovation by CPhI India at Mumbai in Nov 2017.
How did you come up with the idea of your business?
Because of business dynamics and uncertainty, the company tends to have accumulation of the materials. The company usually neither have full roadmap to address such inventories nor a dedicated resource persons. On the other side, the users, consumers are unaware about such existing stock available at discounted price and in ready stock. This information gap can be filledup to enhance the utilization of the materials, to conserve the environment and make more economical products for people at large. It is based on sharing economy and inspired from OliveTrips.com and olx.com.
Tell us more about your team and uniqueness of Human Resource Management culture
We have a very small, dedicated and happy team at PharmaCupboard.com. We believe in openness and learning attitude. Transparency and Ethics are major driving factors for us. We promote new thoughts, cutting edge ideas and innovativeness. What we can be tomorrow is more important than we are today.
What problems are your business solving?
Our business creates win-win situation for entire industry and their value chain. It helps sellers to sell the materials with ease and get better realization. It helps buyers to buy the materials at discounted price and in ready stock. Every year millions of tonnes of chemicals are wasted or incinerated because of the information gap. Our business address the gap by helping to locate relevant counterparts.
Share your Success Story
Every story begins with a small and firm step. The prototype of PharmaCupboard.com was conceived in early 2016. It was rolled out in beta version in mid of 2016. Based on inputs from industry, it became full fledged live in Aug 2016. Within two years, it has helps companies and firms to make 300 + business deals. The web portal is quite unique, as it allows the sellers to upload multiple line items by pre-programmed excel files. It offers attractive interface to communicate to buyers and sellers anytime online.
What is your business dream achievement?
PharmaCupboard.com aims to make 90% of India’s top and renowned 100 pharma companies as their clients by Dec 2018. It wants to help the industry so they can get ease, comfort and value addition to their existing business process.
What is your target market?
The target market for PharmaCupboard.com is (a) big and renowned pharma companies, (b) small scale to medium scale pharma companies, (c) traders, dealers, agents of materials, (d) chemical companies, (e) agro chemical companies, (f) other allied chemical companies.
What is your competitive advantage?
3Ts: Transparency, Trust and Technology
How much time did it take you from conceptualization of your business to actually launching it in the market?
It took six months
What is the revenue model?
PharmaCupboard.com believes in volume of business. It charges nominal transactions and/or membership fees to its members depending on their utilization of services.
What do you want to achieve from this? What is your larger goal or vision?
“To promote reuse and recycling of inventory for safer environment by providing accessible and useful information to pharmaceuticals, chemicals and all allied industries”