Issues, Challenges and Opportunities in Oncology Production

 

We have 4 issues for discussion under this agenda.

 

Firstly, CEO is looking for costing of Oncology API as finished products so that we can set a price for selling it to other companies and also we can use as raw materials to be used in our Oncology Solid Facility (ROSF) for Oncology FG products. He suggested us yesterday to consider only variable cost. Could you please give us such costing for all available API under Oncology API Facility (ROAF)? Currently we have following 2 products in that facility for which we are interested to know the costing:

 

• Sorafenib Tosylate 3.0 Kg (SOT) 
• Sorafenib Tosylate INN 

 

Secondly, if we want to use our Oncology API as raw materials for Oncology FG products, do we need to conform any VAT formalities. If so, please take relevant actions in the regard and also please give us necessary training at warehouse end so that the operations get smoothen. Also how to proceed when we would go for selling those API to other companies, please?

 

Thirdly, we would like to sit with Pfizer Laboratories shortly where we would try to finalize the price for different QA/AC service that they already enjoyed. Please assign someone who can raise relevant financial concerns in that meeting. As soon as we know the meeting schedule we will let you know.

 

Finally, It is a gentle reminder that we are still looking for a regular source of item-wise cost information for our relevant available inventory. Please let us know when the information is ready so that we can plug in those to generate our monthly report of Inventory.

Responses: 

1. As per our records, the total quantity produced during 2020-21 FY, in the said facility is only 19Kg of different APIs as against Tk. 14.69 million as variable expenses. Thus, Variable Overhead Costing around Tk. 7.73 lac per KG as LOH excluding Material Cost is Tk. 0.90 lac per Kg. Both the items will bear almost the same variable cost (Tk. 863000/Kg) with a difference of Tk. 850 packaging cost.  

 

2. No such VAT formalities until we use resources internally through IOT. For external sales, VAT issues will be taken care of by us duly after the Price Declaration of the saleable product. We will just need a copy of Drug Annexure & Approved Price from FDA. You must sell the FG Item Code: 510050008 through a Depot from where Sales Order will be created like other general sales with DIMS in Legacy /Order Management in ERP. VAT Challans will be issues as usual where no additional training is necessary from us.

 

3. A person will be assigned from our end to join the meetings whenever you organize them with Pfizer.

 

4. ERP is a good regular source of information you are looking for, as long as our users enter data accurately therein. You can develop a report to pick the cost information from the system upon a discussion with the ERP Consultants               

The miracle food of the 21st century - Omega-3

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Omega 3 Eggs

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Low GI (Glycemic Index) Rice:

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No goodbye to Windows 10 there will be no Windows 11

We had got used to the operating system upgrade, the next also happens soon since Windows 10 will be unveiled this summer. However Microsoft has indicated that there will be no Windows 11 or any later version ...
After Windows 10, there will be no Windows 11

There are no more new versions after Windows 10, does not mean that the Redmond continues one of its most profitable activities, but it will change the strategy in terms of development of its operating system. Instead of a new system every 2 or 3 years, Microsoft will now offer Incremental upgrades.

The Windows OS 10 will be the latest major release of Microsoft which will improved progressively through updates as was the case for example between Windows 8 and Windows 8.1. Jerry Nixon, the head of Windows development has told the press "Windows will be deployed as a service providing news and updates continuously."

This is also why it is known for more than two weeks that a major upgrade of Windows 10 is already being developed, while the operating system is not even out yet. Windows Redstone is the name of this update will be released in two stages, one in June 2016 and October 2016. It is not the only change made by Microsoft in the field of updates since the Redmond company reported it a few days ago, she also stop the mythical "patch Tuesday".

The concept that Microsoft wants to integrate individuals and businesses is the end of the fragmentation of the operating system, which is a real problem, as has been observed with the end of Windows XP. Individuals therefore benefit from very frequent updates and businesses to which these changes are sometimes serious consequences, can choose to migrate to one of two solutions: Long Term Servicing Current branch and branches for Business.

Conditions that must be met for vicarious learning to occur

Answers could vary, but make sure that the student shows that a certain number of desired behaviors must occur before the reinforcer is delivered, but the number of behaviors varies around some average. One example is:

Gambling casinos and state lotteries. They use a variable ratio schedule because they lure patrons to shoot craps, play poker, feed slot machines, and buy lottery tickets. Patrons win, but not on any regular basis. The desired behavior is the use of the patron’s money to play the games, and the reinforcer is the potential to win big. The patron doesn’t know how many times he will have to play in order to win. Therefore it is a variable ratio schedule.

Conditions that must be met for vicarious learning to occur

The learner must observe the other person - the model - when the behavior is being performed.

The learner must accurately perceive the model's behavior.

The learner must remember the behavior.

The learner must have the skills and abilities necessary to perform the behavior.

The learner must observe that the model receives rewards for the behavior.

What is conflict management?

Conflict is the process in which one party (person or group) perceives that its interests are being opposed or negatively affected by another party. This implies some incompatible concerns among the people involved and includes a variety of conflict issues and events. Conflict management consists of diagnostic processes, interpersonal styles and negotiation strategies that are designed to avoid unnecessary conflict and reduce or resolve excessive conflict.

 

There are three types of intra-personal (within an individual) conflict that may be associated with trying to make a decision. In approach-approach conflict, an individual must choose among two or more alternatives, each of which is expected to have positive outcomes. A child trying to select one of four liked flavors of ice cream faces an approach-approach conflict. In an avoidance-avoidance conflict, an individual must choose among two or more alternatives, each of which is expected to have negative outcomes. The choice of resigning or being fired from one's job would be an example of an avoidance-avoidance conflict.  In the approach-avoidance conflict, an individual must decide whether to do something that is expected to have both positive and negative outcomes, such as reporting unethical actions by one's boss, this might lead to positive recognition for courage by upper-level management, but distrust and dislike by peers and members of lower management who view the action as disloyal and potentially threatening.

3 things need to be accurately diagnosed before planned change can be successful

Organizational diagnosis is the process of assessing the functioning of the organization, department, team, or job to discover the sources of problems and areas for improvement. An accurate, valid diagnosis of current organizational functioning, activities, and problems is an essential foundation for effective organizational change. Information needed to diagnose organizational problems may be gathered from questionnaires, interviews, observation, and company records.

Any planned change also requires a careful assessment of individual readiness for change. Two important aspects of individual readiness for change are the degree of employee satisfaction with the status quo and the perceived personal risk involved in changing it. When employees are dissatisfied with the current situation and perceive little personal risk from change, their readiness for change probably would be high. In contrast, when employees are satisfied with the status quo and perceive high personal risk in change, their readiness for change probably would be low. Employee expectations regarding change should be positive and realistic. If people expect that nothing of significance will change, regardless of the amount of time and effort they might devote to making it happen, this belief can become a self-fulfilling prophecy. And when employee expectations for improvement are unrealistically high, unfulfilled expectations can make matters worse.

Also, the organization's capacity for change must be accurately assessed. If the organization has few resources and its members don't have the time or opportunity to implement the needed changes, the attempt will likely fail.

Finally, potential resistance to change must be diagnosed. Individual may resist change because of their perceptions or personalities. In addition, habits, fear of the unknown, economic insecurities, and threats to established power and influential relationships may generate further resistance to change. Organizational resistance to change may be caused by organizational structure and culture, resource limitations, and interorganizational agreements. Force field analysis can help managers and employees diagnose and overcome resistance to change. Resistance can also be reduced through open communication and high levels of employee participation in the change process.

What is Actionable Claim?

‘Actionable Claims’ means claims which can be enforced by a legal action or a suit, example a book debt. A book debt is not goods because it can only be assigned as per Transfer of Property Act but cannot be sold. Same is case in the case of bill of exchange, promissory note etc. The negotiable instrument like promissory note can be transferred under Negotiable Instruments Act by mere delivery or endorsement and delivery, such instruments cannot be sold.

‘Money’ means current money. It is not regarded as goods because it is the medium of exchange through which goods can be bought. Old and rare coins, however, many be treated as goods and sold as such.

It may be mentioned that sale of immovable property is governed by the Transfer of Property Act, 1882.
 

The subject-matter of the contract of sale must be ‘goods’ According to Section 2(7) “goods means every kind of movable property other than actionable claims and money; and includes stock and shares, growing crops, grass, and things attached to or forming part of the land which are agreed to be severed before sale or under the contract of sale.” Goodwill, trade marks, copyrights, patents right, water, gas, electricity,, decree of a court of law, are all regarded as goods. In the case of land the grass which forms part of land have to be separated from the land. Thus where trees sold so that they could be cut out and separated from the land and then taken away by the buyer, it was held that there was a contract for sale of movable property or goods (Kursell vs Timber Operators & Contractors Ltd.). But contracts for sale of things ‘forming part of the land itself’ are not contracts for sale of goods. For example, a contract for the sale of coal mine or building-stone quarry is not a contract of sale of goods.

Rules regarding Terms under delivey of goods

Place of Delivery SEC.36(1) The delivey of goods should be effected as per the terms contained in the contract. The rules are

1. Time of delivery [sec. 36(2) & (4)]. Where under the contract of sale the seller is bound to send the goods to the buyer, but no time for sending them is fixed, the seller is bound to send them within a reasonable time. Further, demand of delivery by the buyer or the tender of delivery by the seller should be made at a reasonable hour. What is a reasonable hour is a question of fact.

2. Delivery of goods where they are in possession of a third party (sec. 36(3). Where the goods at the time of sale are in the possession of a third person, there is no delivery by the seller to the buyer unless and until such third person acknowledge to the buyer that he holds the goods on his behalf. Such a delivery is known as “ constructive delivery” or “ delivery by attornment” and requires the consent of all the three parties, the seller, the buyer and the person having possession of the goods, where the seller hands over the delivery order to the buyer, there is no delivery unless the seller’s agent holding the goods has assented thereto.

But where the goods have been sold by the transfer of the document of title to goods, e.g., railway receipt or bill of lading, the buyer is deemed to be in possession of the goods repre­sented by such document, and the assent of the third party is not required.

3. Cost of delivery. Unless otherwise agreed, all expenses of and incidental to making of delivery are borne by the seller, but all expenses of and incidental to obtaining of delivery are borne by the buyer (sec.36(5)).

4. Delivery of wrong quantity or different quality. [Sec 37] the delivery of the quanti ty of goods contracted for should be strictly according to terms of the contract. A defective delivery entities the buyer to reject the goods.

Standards of Ethical Conduct for Management Accountants

COMPETENCE
• Maintain an appropriate level of professional competence by ongoing development of their knowledge and skills.
• Perform their professional duties in accordance with relevant laws, regulations, and technical standards.
• Prepare complete and clear reports and recommendations after appropriate analyses of relevant and reliable information.
CONFIDENTIALITY
• Refrain from disclosing confidential information acquired in the course of their work except when authorized, unless legally obligated to do so.
• Inform subordinates as appropriate regarding the confidentiality of information acquired in the course of their work and monitor their activities to assure the maintenance of that confidentiality.
• Refrain from using or appearing to use confidential information acquired in the course of their work for unethical or illegal advantage either personally or through third parties.
INTEGRITY
• Avoid actual or apparent conflicts of interest and advise all appropriate parties of any potential conflict.
• Refrain from engaging in any activity that would prejudice their ability to carry out their duties ethically.
• Refuse any gift, favor, or hospitality that would influence or would appear to influence their actions.
• Refrain from either actively or passively subverting the attainment of the organization’s legitimate and ethical objectives.
• Recognize and communicate professional limitations or other constraints that would preclude responsible judgment or successful performance of an activity.
• Communicate unfavorable as well as favorable information and professional judgments or opinions.
• Refrain from engaging in or supporting any activity that would discredit the profession.
OBJECTIVITY
• Communicate information fairly and objectively.
• Disclose fully all relevant information that could reasonably be expected to influence an intended user’s understanding of the reports, comments, and recommendations presented.