Pharma Franchise is a franchise business. When a company gives permission to a person or other company to sell its products by their name. It is called franchising a business.

A franchise is an agreement between the franchisee and the franchiser. The franchisee is the entrepreneur that is going to buy the franchise from the larger company also known as the franchiser.

No, both PCD and Pharma Franchise are the same thing.

CD (Cash Discount) is better for the customer.

The different modes of transport which are used for transportation of goods are air, water, and land transport which includes rail, road. The customer has to decide which transport is most suitable for him

GR stands for Goods Receipt. LR Stands for Lorry Receipt. This receipt is made by the Transporter once the material is loaded on the vehicle for Delivery.

Draft on Delivery (DOD) is a facility by which a customer can pay for his goods at the time of delivery by demand draft. The customer generates the Demand Draft by the name of the company in the bank equal to the number of goods and hands over to the particular transporter and the transporter in return releases the goods to the customer.

A general account ledger is an account or record used to sort, store and summarize a company’s transactions. In Account Ledger, all the transactions of payment and sale of a customer are recorded in chronological order.

PTR – Price To Retailer

PTS – Price To Stockist

GST (Goods and Services Tax) is an Indirect Tax which has replaced many Indirect Taxes in India. Under GST, the tax is levied at every point of sale.

The goods and services taxis a value-added tax levied on most goods and services sold for domestic consumption. The GST is paid by consumers, but it is remitted to the government by the businesses selling the goods and services. In effect, GST provides revenue for the government.

Third party or contract manufacturing is referred to the outsourcing of pharmaceutical products or to get products manufactured from other manufacturing units with your own brand names.

The World Health Organization (WHO) is a specialized agency of the United Nations that is concerned with international public health. WHO system ensures that products are produced and controlled according to the WHO quality standards. More strictness is followed in WHO manufacturing process than GMP.

A GMP is a system for ensuring that products are consistently produced and controlled according to quality standards. GMP covers all aspects of production from the starting materials, premises, and equipment to the training and personal hygiene of staff. There must be systems to provide documented proof that correct procedures are consistently followed at each step in the manufacturing process – every time a product is made.

WHO-GMP certificates are of great value. These certificates show that the company’s quality is maintained in each department (in case of GMP certificate) and is also producing formulations, which are of international quality standards (in case of WHO GMP certificate).