Cro Medical Writing Category Procurement Intelligence Report

Business practices within Cro Medical Writing market are heavily influenced by changing trends across the category as well as within the broader Science and Environmental Research market. Data security and maintaining the confidentiality of client data and other sensitive information has towered over most of the discussions related to the category. Most geographies now have stringent regulations to protect data, privacy and confidentiality. Although suppliers now have a value proposition that puts data security and confidentiality at the forefront of marketing pitches, adherence to these standards have also increased OPEX of suppliers owing to increased compliance methods and requirement to change critical processes.

The market is rapidly showing signs of a great divide - at one extreme is a low-cost market with almost commoditized services and at the other end is the market for high cost specialized services. Cro Medical Writing vendors are adopting starkly different business models and cost structures to address both the markets.

Proliferation of supply pool in regions such as APAC is expected to intensify supply market competition. This will compel service providers to compete on price points to attract new buyers, which is expected to offset some of the increase in procurement cost arising out of increasing supplier OPEX.

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

As market conditions become more dynamic and procurement practices get more sophisticated, category managers need to be cognizant of the best practices that work for their Cro Medical Writing category procurement. The report offers a succinct analysis of Cro Medical Writing procurement best practices.

For example, Buyers should engage with service providers through a rate card model. Within the rate card model, Customers are provided with rate cards that contain pre-determined prices for various activities and resources required for the project. Price is fixed based on per resource hour for different job roles. This pricing model ensures that there is optimal utilization of supplier's resources.

It is crucial to develop measurable milestones that help monitor and benchmark the performance of service providers. In case of variations, buyers should discuss and find appropriate solutions in conjunction with the service provider, followed by the implementation of an effective strategy to avoid variations in the future. The performance of service providers can also be linked to a portion of their fee and can be paid upon rendering of services in a satisfactory manner. For instance, measuring performance based on adherence to budget and accuracy of data or information provided during research.

Adequate RFP response time should be built in for prospective suppliers to enable them understand the scope and performance requirements.

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