Risk Management in Pharmaceutical Supply Chain in Ghana

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Date
2008-08-25
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Abstract
The study examines Risk Management in Pharmaceutical supply chain in Ghana. The main methodology involved a descriptive survey. Managers or pharmacist of ten manufacturing companies, managers or pharmacist of fifteen importing companies, managers or .pharmacist of thirty wholesaling companies and twenty- five managers of retail shops formed the sample population. Non-probability sampling was used to select pharmaceutical companies. The total responses used for the study was eighty which represented 94.1%. » The chi square statistic and percentages were used to analyze the data and alpha level was set at a significant level of 0.05. The questionnaires were tested for consistency (i.e. reliability) with the aid of the Statistical Package for Social Sciences (SPSS) programme. A reliability coefficient, Cronbach's Alpha, of 0.80 was obtained for the 21 statements relating to supply chain risk management. The study revealed that Pharmaceutical companies in Ghana are able to identify their risks whenever they occur and that they employs risk management methods to solve a confronting risk, but lack sound security systems to reduce or better still to prevent cash and information leakage, theft and expiration of drugs. It was also concluded that pharmaceutical companies enjoys credit facilities from their major suppliers as well as they also give credit facilities to their major customers. Moreover, they do not thoroughly investigate the credit worthiness of customers before offering credit facility. The study recommends among other things, that Pharmaceutical companies in Ghana should adopt a good and appropriate accounting and inventory management in addition to practicing an efficient debtor administration.
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A thesis submitted to the Department of Information and Decision, Kwame Nkrumah University of Science and Technology in partail fulfilment of requirements for the degree of Master of Business Administration (MBA) in Logistics and Supply Chain Management, 2008
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