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Cases - Selling Steel Reinforcing Bars (Rebar)? Lear How Factoring Can Help You Grow
Companies that sell reinforcing steel bars (or concrete bars - also known as Rebar) have seen a boom in recent years.
According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product
Many cities have seen a surge in residential and commercial real estate projects, which in turn has increased the dema
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
d for Rebar.
Companies that sell, cut and bend Rebar have profited nicely from this growth – however, they have also
Companies that sell, cut and bend Rebar have profited nicely from this growth – however, they have also
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
aced a common problem in the industry. The problem is tight cash flow. Basically, they sell the Rebar to customers (e.
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
g. builders, contractors) at good prices. These customers usually pay their invoices in 30 to 60 days. In the meantime
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
the Rebar company must wait to get paid while covering all supplier, payroll and rent expenses. Many times, this is n
ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc
t sustainable. Either the company stops growing, or worse, it starts missing key supplier or employee payments.
Going
Going
easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi
to the bank to get business financing is not always the best solution. Why? Banks seldom finance companies in the Reb
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
r industry. And before they finance a company, they need to see a detailed business plan, three years worth of company
and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ
financials and owners with good personal credit. Also, they take months to make a decision. However, there is a better
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
solution problem – the solution is to factor your receivables.
Factoring receivables provides your company with an im
Factoring receivables provides your company with an im
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
mediate advance on the slow paying invoices. This gives you the necessary cash to pay suppliers, employees and rent. A
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
d as opposed to bank financing, invoice factoring is easy to obtain.
This is how accounts receivable factoring works:
This is how accounts receivable factoring works:
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
1. You sell the Reinforcing Bars to your client. You send them an invoice
2. You send a copy of the invoice to the f
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
actoring company, who advances you up to 85% of its value
3. Once the customer pays for the invoices, you get the rem
3. Once the customer pays for the invoices, you get the rem
t?
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
ining 15%, less the service fee
Factoring companies charge differently for their services, but the cost is generally
Factoring companies charge differently for their services, but the cost is generally
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
nywhere between 1.5% and 3% per month. Price varies based on financing volume and on the quality of your invoices.
Th
Th
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
e biggest difference between factoring financing and bank financing is that factoring is very easy to obtain and quick
.
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
to set up. Most companies can obtain a substantial line of financing in as little as 5 days. Although not widely used
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
n the reinforced bar industry at this time, it’s an ideal source of working capital that is quickly gaining popularity
tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products
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