Medical Furniture Market Procurement Intelligence Report

A changing ecosystem within the Clinical Furniture market also affects the procurement process, cost dynamics and supplier attractiveness for the buyers of Medical Furniture. Providers are increasing their adoption of new tools and technologies to optimize efficiencies and reduce the time taken to launch products in the market. This is adding to their OPEX and will have an inflationary impact on the overall price paid by the buyers.

Rapid growth in the biosimilar and biologics market and global focus on gene therapy studies for rare diseases have resulted in an increased spend within the broader industry.

Companies that serve multiple markets are increasingly facing the dynamism in regulatory frameworks across countries. Coupled with increased costs across the value chain, suppliers are hard pressed to alter their business models and pricing structures to remain relevant in the market.

Medical Furniture procurement best practices are moving towards a level of sophistication which is typically seen in traditional procurement categories. Category managers now have an attractive opportunity to adapt the best practices seen within this category as well as those being leveraged in other non-related categories. This report summarizes the best practices picked from across multiple categories that could work well for category managers involved with Medical Furniture procurement strategy.

For example, Before engaging in a contractual agreement with suppliers, buyers should focus on identifying and understanding various critical parameters along with their impacts on different procurement models.

It is important for category managers to track and measure the performance of suppliers against a set of defined KPIs that are agreed upon during the contract negotiation phase. The performance of suppliers can also be linked to a portion of their fee that can be paid upon rendering of services in a satisfactory manner.

Category buyers should invite bids from all potential service providers that have the ability to meet the overall requirements. Bids must be evaluated based on pre-defined parameters such as financial strength, reputation, offerings, geographical presence, and track record. Buyers can use standard scorecards to evaluate service providers and provide necessary feedback to rationalize the given scores. This helps in the effective documentation of decision-making processes.

Medical Furniture procurement managers also need to proactively identify and mitigate potential risks that can arise in the supply chain or contracts for Medical Furniture procurement. Some examples include: