SpendEdge’s pharma market intelligence reports can improve value chain visibility to help you streamline innovation and facilitate novel discoveries from bench to bedside.
Biotechnology, Pharmaceutical, and Life Sciences Industry Overview
The biotechnology, pharmaceutical, and life sciences sector is subject to rapid changes in consumer preferences, demand-supply shifts, and frequent innovations. Our procurement market intelligence services, which include pharma market intelligence services, help clients understand the best procurement practices for this sector. We also offer insights on how to acquire the best procurement services so that your business can reap the benefits of a high ROI.
Globally, the industry has been facing challenges in the form of expiring patents, acquiring the best pharma market intelligence services, inventory management, controlled pricing, proliferation of generic drugs, and the need to increase R&D investments. Uncertainties in the global economy are shifting manufacturers’ focus from reducing costs to managing volatility. Consequently, factors such as improving visibility across the value chain and reaching out to emerging economies are key to procurement decisions.
We at SpendEdge offer effective procurement market intelligence services that help biotechnology, pharmaceutical, and life sciences companies improve their sourcing and procurement practices, better understand the supplier base, identify cost-saving opportunities, and get insights on the best pharma market intelligence services available in the market today.
Biotech and Pharmaceuticals
Our procurement intelligence analysis on the biotech and pharmaceuticals sector shows that due to recent technological advancements, aging populations, and the expansion of services in new geographical regions, there are huge growth opportunities for players in the life sciences industry who have extensive knowledge about the key pharma market intelligence services affecting this market’s landscape. However, constant regulatory changes and pricing restrictions from various regulatory bodies pose a challenge to the growth of pharmaceutical companies. SpendEdge offers granular market- and category-specific procurement intelligence services that help procurement managers benchmark their services against industry peers and identify improvement areas. This allows clients to achieve better cost savings and embrace supplier innovations to stay ahead of the competition.
Medical Devices and Technology
Recent procurement intelligence analysis of the medical devices sector shows that apart from the need to adapt to changes in the global market landscape, medical devices and technologies companies also need to provide products of superior quality. By focusing on clients’ key business processes, SpendEdge’s procurement intelligence services help companies in the medical devices sector improve their understanding of the supply market, manage their tail spend, and achieve improved cost savings. We offer comprehensive analysis of the best procurement services to implement proven sourcing strategies. Our ongoing supplier risk assessment and monitoring solutions help category managers track any potential disruption in the supply market and be ready with mitigation strategies.
Hospitals and Health Systems
An analysis of the procurement intelligence services for the health systems sector shows that due to the need to improve delivery systems, procurement managers must purchase new equipment and replace medical systems and supplies that account for a major share of hospital expenses. With hospitals and health systems facing constant pressures to reduce costs, sourcing professionals need to remove inefficiencies in their supply chain and reduce operational costs. By focusing more on demand-driven purchases, SpendEdge offers effective procurement intelligence solutions that help procurement managers in the life sciences industry gain a detailed understanding of the supply landscape, price levels of various components and services, best engagement models, and sourcing effective procurement services.
“Very dedicated project management and excellent that the team was chasing the agreed project timeline. Excellent!”
“…We appreciate your attention to detail, your prompt responses, your ability to give us updates and information…”
COVID-19 Impact on the Chemical Industry
Global economy is in a state of paralysis as the novel coronavirus impact has forced countries to take extreme measures for safe being of citizens. The pandemic has exposed the global economy irrespective of industry even as companies continue testing the resilience of their operations.
An indirect impact is visible on the global ICT industry which has been negatively impacted by reduction in demand and shortage of human resources. This position paper highlights the impact of novel coronavirus on the global ICT industry and demand-supply situation.
Sub-segments of the ICT ecosystem will need to navigate important changes and disruptions in the short-term because of the deepening coronavirus impact. SpendEdge presents a quick dashboard that summarizes the impact on ICT industry so far and what to expect in the global ICT ecosystem for the next 2-3 months.
Covid-19 breakout is seen as one of the worse coronavirus impacts on the ICT industry. Leading to a massive shutdown of
However, this period has also brought new opportunities for the ICT industry as
The overall ICT Industry has seen a reduction in demand as new spend has been frozen and budgets are being reprioritized to fight the global lockdown caused by the coronavirus impact. The situation is expected to continue for the next 2 to 3 months, where buyers will be wary to commit on large ticket spend in a recession-like period.
There is a clear bottleneck with respect to supply of communication devices and IT hardware due to diminished production in China, and restriction of cross-border shipment movements. Even existing shipments are stranded at various locations scattered across the globe. Local distribution hubs are also facing massive transportation delays for outgoing as well as incoming shipments.
The overall ICT Industry has seen a reduction in demand as new spend has been frozen and budgets are being reprioritized to fight the global lockdown caused by the coronavirus impact. The situation is expected to continue for the next 2 to 3 months, where buyers will be wary to commit on large ticket spend in a recession-like period.
There is a clear bottleneck with respect to supply of communication devices and IT hardware due to diminished production in China, and restriction of cross-border shipment movements. Even existing shipments are stranded at various locations scattered across the globe. Local distribution hubs are also facing massive transportation delays for outgoing as well as incoming shipments.
Develop relationship with vendors from countries that have a lower count of Covid related cases or are still working in a relatively normal environment. However, buyers must also be aware of increased prices in these geographical regions due to increase in demand for various IT based solutions.
It is not enough to only look at production centers, it is essential for ICT buyers to evaluate logistics related risks associated with delivery of ICT essentials and develop a procurement strategy accordingly.
For ICT buyers, it would be beneficial to create a global procurement strategy to negate any bottlenecks associated with a specific geographical location. Such a step is also recommended keeping in perspective the global lockdown scenario owing to the coronavirus impact.
Buyers need to be up to date of the global developments as well as country specific trends. Lockdown situation can change suddenly in locations that are of importance from a supply chain perspective. Buyers also need to monitor emerging success case studies and learn from them.
Global commodity and energy prices are expected to behave in a very volatile manner for some time. Companies that spend significantly on commodities and energy items as key inputs need to re-engage their suppliers and explore mechanisms to safeguard the upsides in pricing. It is advisable to fix the short-term procurement price or at least keep a maximum limit on upside price movements.
Supply chain disruptions have created logjams at cargo hubs and warehouse facilities. It is expected that shipments will remain stuck at various places for unforeseen duration and massive delays will occur in the entire supply chain. It is imperative that software solutions being used for supply chain management, inventory, warehousing, shipment tracking etc. are updated regularly. A complete visibility and accurate communication on supply chain is important to draw alternative plans and minimize the loss of shipments in transit.
Improve value chain visibility to help streamline innovation and facilitate novel discoveries
from bench to bedside.
Featured
Services Overview
Category Market Intelligence
Supply Market Analysis
Low-Cost/Best-Cost Country Sourcing
Benchmarking
Spend Analysis
Cost Modeling and Should-Cost Analysis
Total Cost of Ownership (TCO) Analysis
Supplier Risk Analysis
Supply Chain Risk Assessment
Supplier Sustainability Assessment
Commodity Price Forecasting
Category Management
Supplier Negotiations
Contract Management
Purchase Ready-to-use Reports
Our Robust Procurement Platform
Suppliers and Buyers Marketplace
Industries Overview
Automotive and Tire
Banking, Financial Services and Insurance
Biotechnology, Pharmaceutical and Life Sciences
Chemicals
Energy
Food and Beverage
Industrial and Manufacturing
ICT, Media and Entertainment
Mining, Metals and Minerals
Retail and CPG
Transportation
Resources Overview
Blogs
Case Studies
Whitepapers
Webinars
Press Releases and Media Mentions
Transitioning your category procurement strategy beyond cost-saving and into a strategic function of the organization.
Over recent years, there have been various industry developments that served as or caused trends in procurement. These procurement trends include technology changes, novel strategic approaches, new processes, and necessary adaptations to change. As supply chains become increasingly complex, procurement has become highly crucial and influential in the production process and continues to grow.
Supplier risk assessment and major procurement pain paints for the medical devices industry. Request a Free Proposal to know how we can help you.
Download our latest whitepaper now to understand more on supply chain trends and best practices to be resilient.
Clients Overview
Who We Serve
Case Studies
Press Releases and Media Mentions
