Protecting the Consumer by Using the BSC for Medicine Production

In the production of medicines, the health and wellbeing of the consumer is of paramount interest. Those manufactured by pharmaceutical companies will only be beneficial to the public if these are actually effective in treating their disorders or illnesses without causing burdensome side effects. This is the reason there is always a need to make sure that the system of production is in top shape. Thus, most pharmaceutical companies already use the BSC for medicine production and distribution.

The balanced scorecard is an instrument used for measuring and managing the performance of a company. It is a system for quality management designed to quantify measures of performance and balance the system according to a company’s short and long-term objectives and goals, financial and non-financial measures, lagging and leading indicators, and internal and external performance indicators. The instrument features the application of four perspectives: financial, internal processes, customers, and learning and growth, which are designed to provide information to serve as feedback on the execution of a management plan. Based on the feedbacks received, adjustments, modifications, or adaptations may be performed on the management plan in order to make it function more efficiently.

In the production of medicines, companies must always make sure that the methods they employ work efficiently for the benefit of both the company and the consumers, with more emphasis placed on the latter. In using the balanced scorecard, a pharmaceutical company must be able to balance all aspects of production and management. If one goal is not attained, or if one measure or indicator shows a lag or drawback in company performance, the company’s production quality is affected, which in turn, works to the disadvantage of the consumers. In considering the four perspectives of the balanced scorecard, each must be in harmonious balance with one another to ensure a sort of equilibrium that always results to good performance. Of all the perspectives used in the instrument, customer feedback shows the ultimate result of the performance of the company. If customer feedback is positive, it can be concluded that company performance is satisfactory. Little improvement may be necessary. Adversely, if customer feedback is in the negative, then the company must rethink its production methodologies and the measures implemented in the process. It is best; however, that from the start of production, the company must make sure that the customer always gets what he or she wants and needs. This will ensure that there will be consumers who will be waiting for the finished product at the end of the supply chain.

The feedback received will be the basis for adjusting, modifying, or changing entirely the parameters of production. This will work also for the benefit of the company because a more efficient production line will mean enhanced quality production capability.

When doing business in the pharmaceutical line, it is always emphasized that consumer interests must come first among others. This may be ensured with the use of the BSC for medicine production and distribution. With the use of the performance measurement instrument, quality production is ensured for the benefit of both the consumer and the company.