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.
Biotechnology, Pharmaceutical and Life Sciences
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.
Sectors Covered
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.
Direct and Indirect Spend Categories
Raw Materials
- Bulk drug raw materials
- Intermediaries and APIs
- Process chemicals
- Agrochemicals
- Excipients and solvents
- Chemicals and media
- Formulations
- Finished products
- Plant machinery and equipment
- Metals and plastics
Packaging Materials
- Bottles
- Aluminum bags/pouches/foils
- Paper
- Cartons
- Labels
- Plastic containers/caps
- Cans and Closures
- Glass (molded and tubular)
- Corrugated board
- Shrink wrap
Indirect Spend
- Facility Management Services
- Facility Equipment and Supplies
- Corporate Services
- Professional Services
- Marketing
- Travel and Entertainment
- Telecom and Networking
- IT Services
- Office Supplies and Equipment
- Computers and Peripherals
- Logistics and Transportation
- Utilities
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Case Study: Spend Analysis: Assessing the Current Spend and Improving Supply Chain Efficiency for a Medical Devices Company

Case Study: SpendEdge’s Inventory Management Helped a Pharmaceutical Supplier Maintain Accurate Inventory Levels and Minimize Cost of Inventory
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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.
Procurement and Supply chain disruptions?

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.
ICT Impact Analysis: Key Insights
Covid-19 breakout is seen as one of the worse coronavirus impacts on the ICT industry. Leading to a massive shutdown of
- equipment and raw material manufacturing units.
- The software and services sector has seen a reduction in demand as buyers keep their spend on hold.
- Communication service operations are also affected by the global lockdown situation and shortage of on-premises human resources.
- cancellation of business meetings and conferences – some of them vital for partnership opportunities within various telecommunication companies.
However, this period has also brought new opportunities for the ICT industry as
- companies hurried to upgrade their systems in a bid to facilitate remote working for business continuity.
- The number of teleconferences increased exponentially as majority of people are working from home.
- Telehealth companies are also upgrading their infrastructure to provide seamless remote consultation.
- promoting an increased deployment of multiple supportive technologies such as 5G and helping offset some of the negative demand impact on the ICT industry.
ICT Demand-Supply Trends
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.
Telecommunications Sector
- As the world moves to remote/home working to tackle the coronavirus impact, demand for supportive hardware and technologies such as 5G has seen an unprecedented rise. On the flip slide, demand for other communication platforms such as office secure lines has reduced
- Global suppliers are facing supply side bottlenecks for telecom equipment as raw material vendors and equipment suppliers in Chinese tech hubs are unable to meet their production plans
- Improving Covid-19 situation in China will help tackle some of the supply side bottlenecks but the global distribution hubs will still be a choking point for some time
- There will be an increase in costs associated with compliance/security protocols for suppliers. Such costs will be eventually passed on to buyers in the form of higher service charges
IT Hardware and Software based Services Sector
- Demand for generalized IT Hardware is likely to face pressure due to economic slowdown/shutdown within key economies. IT hardware that can support 5G related services is set to see an increase in demand spurred by remote/home office requirements
- Rise in healthcare R&D initiatives as well as heightened healthcare operations delivery at a war-footing is demanding support of specialized IT hardware and software services in the wake of the worsening coronavirus impact.
- Hardware suppliers are facing acute distribution bottlenecks and transportation shutdowns in multiple geographies. This is adding up to their overall logistics cost, and could be passed on to the buyers in the form of increased price
- Demand surge in usage of remote conferencing and working technologies to facilitate remote/home working was witnessed. Some remote working software licenses were facing a delay of 2-5 days for new activations. However, situation has stabilized, and demand is expected to hit a plateau which is seen as a favorable coronavirus impact on the ICT industry
Media Sector
- Due to a global lockdown scenario, majority of advertiser have paused their advertisement spending. As an example, a recent study has indicated that 46% of advertisers have reduced their advertising budgets for the first half of the year.
- However, there is still relatively stable demand for digital advertising platforms from buyers across multiple countries. Consequently, suppliers are shifting more to creation of digital campaigns only with a special focus on social media platforms
- OTC healthcare, insurance and essential consumer product segments have increased their advertising activities and are planning innovative campaigns that tie in Corona story with their product/services story. This is creating substantial demand for television and digital advertising industry
- Subscription platforms such as Amazon Prime and Netflix have seen a surge in new accounts and usage as a direct benefit from global Lockdowns and work from home options
Risk Mitigation Activities to Address the Coronavirus Impact on the ICT Industry
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.
Alternative suppliers
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.
Holistic Risk Mitigation Plan
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.
Global Sourcing Strategy
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.
Round-The-Clock Monitoring
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.
Revisiting Contract Terms
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.
Ensuring Shipment Visibility
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.
Getting Down to Business
Improve value chain visibility to help streamline innovation and facilitate novel discoveries
from bench to bedside.