E-Commerce in the Pharmaceutical Industry: Threshold of Innovation
Management Research News, Vol. 27, No. 8/9, 2004
20 Pages Posted: 4 Jan 2005
In the last two decades, E-commerce has become synonymous with communication, strategy and business practices, facilitating electronic transactions for business process via EDI (Electronic Data Interchange). E-commerce enhances value of the industry through key underlying processes such as, high value drug innovation, clinical development and trial, project and people management, marketing and sales. The synchronization of E-commerce and corporate strategy has created cogent value for this industry. This article reviews the application of E-commerce and discusses its significance in the pharmaceutical industry implying four major aspects as the covenants for the success of the pharmaceutical industry.
Keywords: E-commerce, strategic importance, pharmaceutical industry
JEL Classification: M31, M39
Suggested Citation: Suggested Citation