The life sciences sector is weighed down by lack of end-to-end traceability across the product lifecycle.
Life sciences market participants have a widening swathe of supplier compliance mandates to grapple with.
Rising input costs and competition from generic formulations is a key concern for players in the life sciences landscape.
As heavily regulated industries, market participants must embrace rigorous quality control and improve product traceability to live up to regulators’ expectations.
Medical devices have to be safe throughout their useful life, so product quality and supplier response times are crucial.
Cost pressures on healthcare providers show no sign of easing; a deeper understanding of supply-side inefficiencies should help them tame costs better.
Regulations are changing, and staying compliant is a tall order. We will ensure you satisfy all compliance mandates.Talk to Our Experts
Challenge: Faced with intense competition and the need to improve profit margins, our client turned to SpendEdge for assistance in overcoming their business challenges. One of the main strategies involved migrating cost-intensive operations to low-cost destinations.
Solution: Our team at SpendEdge assisted the client in streamlining their contract manufacturer selection process. Leveraging our expertise and market research methodology, we identified key contract manufacturers for the client’s ready-to-eat product line.
Result: The client successfully addressed their business challenges and achieved improved profit margins and reduced operating costs. All the while, also enhancing product quality and expanding manufacturing capabilities.Read Moreto see the more on spendedge insights
Gathering data on your supplier’s capability to deliver high-quality products is just not enough. More open communication will ensure suppliers not only deliver with quality but also ahead of schedule.
Mismatches between your needs and what your supplier delivers could weaken business performance. By collaborating intensely with suppliers, you can ensure your penchant for KPIs grows on them as well.