The supply and demand challenges of medicines at Princess Marina Hospital, Gaborone, Botswana

Abstract

Purpose: This paper aims to investigate medicines' supply and demand challenges at Princess Marina Hospital in light of the prevalent shortage and unavailability of medicines in both the public and private sectors globally. Despite this, medicines remain essential commodities to healthcare systems. For Botswana, the unavailability of medicines situation has worsened over the past years due to complications from HIV, and AIDS. There was a need to investigate the supply and demand challenges of medicines at Princess Marina Hospital, Botswana's largest hospital. Methodology: A quantitative methodology using a close-ended questionnaire was used to collect data from a sample of 41 pharmacy personnel at Princess Marina Hospital. Data were analyzed using Microsoft Excel. Findings: The supply and demand challenges identified are low manufacturing capacity by manufacturers, shortage of raw materials, poor supply chain management by local suppliers, Botswana’s uneconomical small market, inefficient logistic supply system, irrational use of medicines, Just-In-Time- Inventory, tendering system of awarding the lowest bidder, unexpected increased marketing strategies, long regulatory timelines, limited registered medicines, inadequate supply chain management skills, insufficient personnel, and poor collaboration between Princess Marina Hospital and Central Medical Stores. Originality/Value: This paper identifies the supply and demand challenges of medicines specifically in Princess Marina Hospital. To attain the purposes of the study, an inquiry was created containing two components related to investment decisions, including financial literacy and economic factors. The inquiry was delivered to a sample of 85 people. Descriptive data were used to expound on study samples in the way that frequency, mean, and standard deviation. In addition, of highest quality-sample t-test and a natural linear regression reasoning were used to test the study theory at a consequence level of 0.05. The main findings of this study include (I) the impact of financial knowledge and literacy on investment decisions and (II) the impact of economic factors on investment decisions. The focus was on investment and savings-related decisions and preferences. Banks, financial institutions, and investors can benefit from understanding the impact of financial literacy, behavioral, and individual factors, thus inviting investors to other financial options. The study provided many recommendations, the most important of which, is by communicating financial factors and knowledge of finance to financial literacy, allowing decision-makers to anticipate economic events and plan for the future.