Contract Manufacturing in the Pharmaceutical Industry Essay - 3

Contract Manufacturing in the Pharmaceutical Industry - Essay Example The basic principles of business economics demand that an entity tries to manufacture goods or provide services at the lowest possible cost to itself while benefitting from the gain in net revenue after sale or completion of service. For this reason alone, the concept of outsourcing is hard to concretely define (Goddard & Ajami, 2008). The skeptics of the process see it as a migration of tasks performed by the local workforce to a workforce in another country, where the tasks can be performed at a lower overall cost to the organization. But Scholte (2005) defines it as a process of international economic integration, where the strengths of two national economies combine to benefit each other. The reasoning that underlines this definition is that outsourcing allows an entity to place its focus on the things that it is stronger or better at while delegating the tasks and/or responsibilities that are costing it time and resources from the primary tasks to another entity that is stronger on those accounts. This means that each entity can now focus on the core tasks which come within their strengths, and thus, benefit the final outcome for both. Thus, to put it in economic terms, the process of outsourcing provides comparative advantage to each entity in some way or form.  The process of contract manufacturing is simi lar to that of outsourcing, in recent years is more associated with the pharmaceutical industry specifically (Gassman et al, 2008). It relates to a working agreement that is reached between two organizations, whereby one becomes the manufacturing arm of the complete process. This means that the client organization hands over the entire process of sourcing raw materials, hiring labor, producing the goods, as well as the ordering and shipment tasks, to the partner organization, allowing it to focus on other activities within its industry sector.  

Canada Agriculture Industry Essay Example | Topics and Well Written Essays - 2500 words

Canada Agriculture Industry - Essay Example Therefore, the development of farming and food manufacturing figures significantly in the industrial development strategy of every province. Relations between the farm sector and the non-farm sector are composite and of growing importance. In 1985, farm production inputs acquired from the nonfarm sector and payments for borrowed capital signified 78 percent of total farm operating expenditures, with interest costs alone accounting for 13.5 percent of total expenditures. This rising assimilation of the farm and industrial sectors has reduced the role and importance of established agricultural policies. The agri-food complex is at present influenced as much by macroeconomic factors, such as growth, inflation, and interest rates, as it is by agricultural policies per se (Finkle, P., and W. H. Furtan. 1988). By thirty to forty percent of agricultural output currently exported, and with comparatively low border protection for all merchandise except milk, poultry, and eggs, farming in Canada is also internationalized and incorporated into the world food economy. As a result, the view for Canadian agriculture is mainly dependent on supply and demand conditions in the world markets for grains, oilseeds, and red meats, and on other countries farm policies, food trade arrangements, and trade activities. This contact to world market conditions provides the affirmed justification for many of Canadas agricultural commodity programs, which are intended to provide producers with some protection from cyclical and intermittent market instabilities and from the policy-induced distortions reassigned from world markets. Canada has proposed that a broad agricultural package is accepted in principle at an early date (phase one); that comprehensive national plans for implementing the overall cut in the negotiating measure contracted to in the first phase be presented and agreed on (phase two).