Increasing Your Purchasing Power By Strategic Procurement
Effective Solutions to Improve Your Bottom Line
Strategic procurement is the development of partnerships between a company and suppliers of strategic value. By passing on economies of scale and heightening business-to-business relationships, strategic procurement offers an array of benefits to companies both large and small. Savings of between 25 and 33 per cent on previous purchasing arrangements are not uncommon; but strategic procurement offers far more, including preferential access to technologies ahead of your competitors, and world-class support from your supply chain.
Everyone, it seems, is implementing a strategic procurement strategy these days. In the past six years GlaxoSmithKline have delivered in excess of £2 billion worth of savings, a sum that amounts to around 25 per cent of all purchases. And since 2002 many of the other pharmaceutical giants - Pfizer, Wyeth, Novartis, AstraZeneca - have also undertaken massive restructuring and recruitment programmes to deliver category management style strategic procurement. These companies are all finding that the huge benefits of strategic procurement significantly help their bottom line in an increasingly competitive environment.
Biotech companies are starting to catch up with their pharmaceutical cousins too. Many of these companies have either recruited a buyer or implemented a global procurement programme and have subsequently enjoyed price reductions that range between 30 and as much as 60 per cent. Investment in strategic procurement can reap huge rewards.
Smaller companies, however, seldom need a dedicated buyer: their external purchasing might not justify such a role; or they simply might not have the resources to employ such an individual. That isn’t to say, however, that these businesses are precluded from the same sort of procurement advantages enjoyed by multinationals.
By outsourcing your procurement strategy, Amici Procurement Solutions can act as a vital resource for your company. Our team of expert pharmaceutical buyers take on your purchasing operations, allowing you to reap huge cost benefits and focus on your core operations. Because Amici co-ordinates consortium buying groups we can deliver the same prices to small and medium sized companies accessed by major corporations.
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