PharmaCupboard: Inventory Liquidation To Drive Economy & Save Environment

Suresh Purohit,FounderPharmaCupboard is a the brainchild of Suresh Purohit, an innovative technocrat who has a successful record of accomplishments in the chemical and pharmaceutical industry. As an Engineering & MBA graduate, he was curious to explore his area of interest. He observed that Pharma and Chemical industries have excess, surplus and trailing quantities of materials because of product change-overs and other internal/external conditions. He also noticed that these materials lie idle at some site, while there are a few companies & industries that are capable of using the same materials. He saw this as an area of pain and could be addressed well by a transparent digital platform and established

Suresh's early experience with (C2C portal for vehicle sharing and carpooling) helped him to draft and launch his first B2B portal. The idea of the brand was to fill this gap in the market by providing information and making materials available to those companies which can effectively use them. PharmaCupboard works on the "Sharing Economy" concept that enables buyers and sellers to perform transactions and create win-win situations. The major focus of the firm is to help liquidating and sourcing of more such materials that contribute to the economy and environment.

The Unconventional Offerings
PharmaCupboard offers the inventory liquidation service
by various options as per sellers' or buyers' convenience and preferences. Since 2016, it has been facilitating the purchase and sale of excess, surplus, non-moving, slow-moving, and trailing quantities, provided they are usable by others in a legal and economic context. In November 2018, it started an advanced version PharmaCupboard Power­ a platform for online Real-time auction. It is termed as one of the most secured systems as it is hosted on Google Cloud and requires Google account for authentication. It also enables buyers and sellers to complete the transactions quickly with firm decision making.

Pharmacupboard is on an ultimate mission to promote re-usage and recycling of inventory for safer environment by providing accessible and useful information to pharmaceuticals, chemicals and all allied industries

The brand's service portfolio includes API (Bulk drugs), Intermediates, Chemical, Solvent, Catalyst, By-product, Flavours, Excipients and Packing materials. The web portal is specifically created to provide technology-driven, easy and convenient solutions to industries. To ensure that clients interact with genuine, expert and experienced professionals, it has made registration as a mandate process for usage of the portal. As part of the offering, it connects pharmaceutical, industrial chemical, plastics, polymer, cosmetics, rubber, ink, paint, cement, veterinary drugs, dyes, textiles, agrochemicals, and others. "PharmCupboard does not buy, sell, own or store any materials; hence we bring more transparency. Because of the length and breadth of services, we are unique, popular and one of the largest e-marketplaces. We are proudly associated with companies such as Dr. Reddy's, Lupin, Ipca, Laurus, Mankind, Wockhardt, Cipla, and Cadila," says Suresh Purohit, Founder.

He continues, "PharmaCupboard has tried and tested an entirely new concept, which was probably never existed and hence it is referred to as `OLX of pharma'." As a game-changer and creator of e-marketplace PharmaCupboard was nominated for the very prestigious `India Pharma Award' as `Digital Pharma Innovation' by CPhI India in 2017 and 2018. It has helped liquidating over 325 MT materials so far.

Growth & Roadmap
PharmaCupboard marked presence in western India in its first year of operation, then was subsequently successful in expanding to South, Central and North India. It has been growing at the fantabulous rate of 4X to 10X. Scaling new heights, it is looking for funding from external sources to enter into the international market. The company is on an ultimate mission to promote re-usage and recycling of inventory for a safer environment by providing accessible and useful information to pharmaceuticals, chemicals, and all allied industries.