Procurement Software for Pharmaceutical Industry
The pharmaceutical industry is entering a phase of maturity.
With expiring patents, proliferation of generic drugs, rising requirements for investment in R&D and marketing and huge pressure from governments and health insurance companies to reduce end-market prices, there is enormous opportunity for procurement to increase its contribution to sustainable business performance improvement. Procurement professionals in the pharmaceuticals industry can proactively drive value-creation by:
- Seeking and capturing supplier innovation from the earliest stages of research and development all the way through healthcare delivery.
- Building collaborative, high performance partnerships with Contract Research Organizations (CROs) and other third-party providers of high-end technical and scientific services.
- Bringing the same measures of procurement discipline to indirect spending as they have often achieved with direct categories.
With a blurring of core and non-core activities and heavy margin pressures, greater off-shoring and outsourcing in niche service areas demand procurement capabilities that go far beyond traditional transactional modes of operation. Procurement functions for pharmaceuticals companies must help their organizations create Comparative Clinical and Economic Value (CCEV) that translates to concrete benefits for payers, patients and shareholders in today’s ever demanding healthcare system.
To read about our procurement solutions for pharma industry, download brochure