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.
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.
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 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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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:
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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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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:
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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.
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.
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.
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.
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?”
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.
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