Clinical Laboratory Market Procurement Intelligence Report

Access curated Clinical Laboratory procurement intelligence and solve all your questions on Clinical Laboratory procurement outlook, cost saving opportunities in Clinical Laboratory procurement and potential Clinical Laboratory partners.

Scope of the report

Ecosystem of the global Clinical Laboratory category is intertwined with the larger parent market of Clinical and Medical Support Services. Our category definition describes that overall Clinical and Medical Support Services market includes all spend on services used in diagnosis, treatment and rehabilitation, including medical practice provided through a third-party, repair and maintenance of equipment and medical science services.

KEY PROCUREMENT INSIGHTS COVERED

Strategic Sourcing Guide to Clinical Laboratory Procurement

Overview

Business practices within Clinical Laboratory market are heavily influenced by changing trends across the category as well as within the broader Clinical and Medical Support Services market. Over the years, regional boundaries have blurred as suppliers foray into different continents, increase their capital expenditure and spend on cross-border M&A initiatives. The deployment of geographic diversification strategies through such consolidation initiatives has enabled the large suppliers to improve their performance and expand their business footprint.

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.

Despite increasing costs on almost all fronts, suppliers are resisting a drastic price increase due to intense competition where market players are willing to increase their market share at the cost of profitability. Therefore, buyers can expect pricing status quo in most cases, or only negligible to marginal price increases in some cases.

As a result, category managers need to closely monitor the Clinical Laboratory procurement trends and identify changes required in their procurement environment for the category.

Clinical Laboratory Procurement Best Practices

Clinical Laboratory 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 Clinical Laboratory procurement strategy.

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.

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.

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.


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Risks in Clinical Laboratory procurement

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


  • Contract-related risks where unfavorable credit terms may severly penalize buyers for delayed payments or entitle the supplier to demand pre-payments or shorten the payment terms are not very common in the category but they do exist in certain situations where buyers' liquidity or financial health is in question
  • Pricing terms in the contract could prove to be inadequate to safeguard the buyer from impact of a sudden increase in supplier's cost, often arising from a lack of clarity on scope of products or services to be delivered
  • Long credit period provided to buyers for making payment and fluctuating exchange rates pose a risk to suppliers. Default in payment by buyers would impact suppliers' ability to operate efficiently and may create a liquidity risk

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Who should read this report

  • Procurement decisions can prove to be costly in the absence of careful deliberation and evaluation of every available option. In fact, more than 90% of the decision makers we work with acknowledge that timely availability of up-to-date category intelligence can help them make better purchasing decisions. More than 80% of them believe that in-house category intelligence needs to be updated periodically to achieve full benefits. If you have read so far, we are quite sure you agree!!

    You may have just initiated your research to design a winning Clinical Laboratory procurement strategy, or you may be a category expert looking for strategic insights and updated data.Either ways, the report has your requirements covered.

    The report is intended to serve as a one-stop reference guide for Clinical Laboratory procurement strategy and offers a perfect blend of category basics with deep-dive category data and insights. Therefore, it is ideal for category beginners looking for “Clinical Laboratory: Procurement Report 101” as well as for category experts actively tracking the global Clinical Laboratory procurement market.

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Key questions on Clinical Laboratory procurement answered by this report

    The Clinical Laboratory procurement report helps take more informed decisions by placing all the critical information and advice at the fingertips of a decision maker. It also specifically answers some of the key questions that we have been routinely asked during our industry outreach initiatives:

     

    • What is the spend potential in the Clinical Laboratory market?
    • What is the correct price to pay for Clinical Laboratory? What are the key trends and factors that influence current and future pricing?
    • Which selection criteria are the most important for Clinical Laboratory Suppliers Market?
    • Who are the top Clinical Laboratory suppliers? What are their cost structures?
    • What are supplier margins in Clinical Laboratory market?
    • Which negotiation levers can reduce Clinical Laboratory procurement cost ?
    • What are the best practices for Clinical Laboratory procurement and what are the potential risks?

SpendEdge Insights has helped procurement professionals and sourcing teams manage multiple spend areas and achieve more than $2 billion in savings. Activate your free account today!

Clinical Laboratory Category Insights: What is inside

  • A comprehensive drill down on category sourcing execution: Data, insights, advisory

    The Clinical Laboratory market report offers a complete picture of the supply market and analyzes the category from the perspective of both buyers and suppliers. Analysis of the category trends, procurement best practices, negotiation levers and overall category management strategy advisory are interspersed with in-depth data and commentary on spend outlook, pricing ecosystem and supplier landscape drilled down to a region-level coverage.

    Data

    A key highlight of this report is the in-depth outlook created on Clinical Laboratory procurement spend and pricing trends. The report further delves deep into the aspects of cost structure, total cost of ownership and supplier margins for Clinical Laboratory. A dedicated section to supplier profiles and evaluation helps decision makers cast a wider procurement net and identify gaps in existing relationships.

    Insights

    Along with specific category and supplier intelligence, the publication also includes curated insights on Clinical Laboratory market trends, price influencers and inherent risks. These insights help the decision makers prepare for market shaping trends in advance and create alternative strategies for changes in the market conditions.

    Advisory

    Additionally, the report also advises on the best practices and strategies to manage the Clinical Laboratory category efficiently. Negotiation levers and opportunities are explained in detail along with quantification of their potential. Benchmark KPIs for supplier and buyer performance management are also aggregated to better organize the category objectives. Other themes of advisory include ideal procurement organization structure, enablers to achieve KPIs or category objectives and ideal SLAs to have with suppliers.

  • Unrivalled breadth of category analysis: at your fingertips

    Category Ecosystem

    • Buyer and supplier ecosystem
    • Competitiveness index
    • Buyer and supplier power
    • Threat of new entrants and substitutes

    Global and Regional Sourcing Insights

    • Category spend
    • Spend growth
    • Dynamics
    • Opportunities

    Pricing and Cost Analysis

      • Pricing outlook and data
      • Drivers of pricing
      • Cost structure and inputs cost
      • Total cost of ownership
      • Pricing models and margins

    Cost Saving Opportunities & Negotiation Strategies

    • Buyer and supplier side levers
    • Quantified cost saving opportunities
    • Negotiation strategies and quantified outcome

    Procurement Best Practices, Strategy and Enablers

    • Procurement excellence
    • Sustainability and innovation
    • KPIs and category enablers
    • Risk management and outsourcing

    Vendor Analysis

    • RFx essentials and selection criteria
    • SLAs
    • Supplier evaluation metrics
    • Detailed supplier profiles
  • A lucid, easy to read format: Enabling fast decisions

    Our research is complex, but our reports are easy to digest. Quantitative analysis and exhaustive commentary is placed in an easy to read format that gives you an in-depth knowledge on the category without spending hours to figure out “what does it mean for my company?”

Category Research Framework

SpendEdge presents a detailed picture of Clinical Laboratory procurement solutions by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key category influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

Information Sources

Primary research
Secondary research
Procurement heads
Industry journals and reports
Category managers
Periodicals and new articles
Sourcing consortium professionals
Category webinars
Industry experts and thought leaders
Internal categiry playbooks
Procurement managers
Industry/government websites on regulations, compliance
Category heads of suppliers
Internal databases
Client account heads/managers
Industry blogs/thought leader briefings
Client and industry consultants

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