This morning a couple of us woke up for the sunrise and it was so pretty. The mountains in the background make it look it so gorgeous.
We started today at Medochemie. It was founded in 1976 and they produce affordable medicine. 300 million people are treated by Medochemie across 106 countries. They are mainly a manufacturing plant, not a research center. Currently they don’t make new drugs but they might try in the future. Their biggest problem at the company is human error. This makes sense because humans aren’t always precise and can have off days, causing them to make mistakes. I like how they are aware of this and are constantly looking for ways to reduce the amount of human error.
Medochemie has 3 types of customers: export, 3rd party business/affiliations, and vendors who have the best price. This is a good business plan because they have a variety so if something happens to one they are still in a good spot. It is also good because they are in different markets which helps them maximize their sales.
Within the supply chain they are manufacturers. Their inventory is made to order, so they don’t have an excess of pre-made pills. Forecasting is a very important part of their business because they have to make sure they have enough ingredients to make the drugs when they are needed. They make more expensive products less than others so lower their costs. A lot of Medochemie’s medicine needs prescriptions which makes it slightly harder to sell.
Later in the afternoon we went to Columbia ship management company (CSM). They were founded in 1978 and they manage ships. They have 13 offices and over 409 vessels that they manage. They are ranked number 5 in the world for shipping. An interesting fact is that they couldn’t use Russians as employees for a while because of the Ukraine, Russian war. Things were tense around the world and still are and a lot of countries do not feel comfortable with Russians in charge of their items. The biggest problem that CSM had with the pandemic was that the crew was not allowed off the boat. I could not imagine that and how hard it must have been. Some people were on boats for a long time already and then when they were ready to get off, they were told that they had to stay on for about 4 more months at least. They weren’t able to see their family for even longer and they could not get a change of scenery. CSM is a great company and they were very interesting.
