Cannulae Market Procurement Intelligence Report

The market for Medical and Surgical Consumables and its sub-segments such as Cannulae are at an interesting intersection. 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.

New locations and vendors are emerging as cost effective suppliers of Cannulae, offering an opportunity to widen the supplier base and gain further negotiation leverage with incumbent suppliers.

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.

Trends like these and many others discussed in this report are necessitating a relook at the way Cannulae is procured and the procurement cost saving opportunities that exist.

Sometimes, procurement functions are unable to timely alter their practices while responding to market conditions. Industry experts acknowledge that periodically reviewing procurement best practices and adopting learnings from across procurement categories can help procurement teams respond to market needs in a more agile way. This report combines our experience of other categories with Cannulae procurement insights and hand picks best practices that can work for category managers delving in this market.

For example, Buyers must clearly define clauses pertaining to the ownership of subcontracted services that are not part of their service providers' portfolios. This is necessary to ensure service consistency and control over sensitive data that are shared with sub-contracted firms.

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.

Large organizations seek engagement with global category suppliers. However, they must try to achieve the right blend of regional and global suppliers in order to ensure the delivery at locations where global players do not have necessary capabilities.

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