Prevention is better than cure.
Nutraceuticals have gained growing interests due to their potential nutritional profile. Also, it acts as a bridge between pharmaceuticals and natural health solutions without any side effects. More companies are making paradigm shift to enter the world of nutraceuticals as a modern approach to prevent or treat certain diseases. It is expected that the use of nutraceuticals in preventive healthcare could lead to a decreased dependency on drugs.
Short Supply of Ingredients
Most ingredients are obtained from international sources such as China, India, Europe and more. Hence, it is highly important to partner with a reliable OEM manufacturer to ensure stocks consistency.
- Foster a good relationship and maintain close communication with supplier to keep track on the crop condition and harvest status to ensure the consistency of ingredient supply
- Strategic stock planning in advance to avoid any unforeseen delay in shipment
- Secure more ready stocks on hand and pre-alert customer if stock shortage issue is raised by supplier
It is challenging to maintain the price of ingredients without any fluctuations. Some of the common causes of price volatility include:
- Supply and demand of crops
- Climate changes affecting the harvest of crops
- Collect market information from reliable sources to obtain first-hand news prior to the announcement of price increase
- Replenish additional ready stocks prior to price hike
- Shortlist alternative suppliers for certain ingredients when price increase is out of reach
Dietary supplements are just like food. All ingredients used in the formulation have to meet certain regulatory requirements and safety profile. This includes not only the manufacturing of ingredients by supplier but also the processing facilities in the OEM’s production plant.
- Compliant with accreditations such as HALAL, GMP, HACCP, MESTI and ISO 22000
- Strict quality control monitoring by well-trained personnel
- Thorough lab testing and checking prior to finalizing the formulation in dietary supplement
In conclusion, these are the two qualifying criteria of a reliable OEM manufacturer that brand owners should partner with:
- Capable to anticipate the potential problem
- Able to offer multiple strategies to counteract each problem
Finding the right OEM partner is one of the important attributes of a company’s success. Let us be a part of your success. Contact us to find out more!