Dermatological Devices | Suppliers | Pricing Trends , Best Practices

Strategic Sourcing Guide to Dermatological Devices Procurement

Overview

A changing ecosystem within the Medical and Surgical Equipment and Supplies market also affects the procurement process, cost dynamics and supplier attractiveness for the buyers of Dermatological Devices. 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.

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.

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.

Dermatological Devices Procurement Best Practices

The report discusses in detail the best practices that have served well the category managers responsible for Dermatological Devices procurement.

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.

Category managers must ensure that they have clearly identified and listed down potential negotiation levers to maximize the value of their category spend before entering into contract-related discussions with service providers. Common negotiation levers to maximize value include deadlines, terms related to payments, (including fees, expenses, and payment timelines) and assistance required from the buyer's organization.

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 Dermatological Devices procurement

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

Suppliers are exposed to the risk of fluctuating prices of key inputs. This impacts the product price as suppliers would have to increase product price to maintain contribution margins
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
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

The report is intended to serve as a one-stop reference guide for Dermatological Devices 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 “Dermatological Devices: Procurement Report 101” as well as for category experts actively tracking the global Dermatological Devices procurement market.

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

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Key questions on Dermatological Devices procurement answered by 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!!

The Dermatological Devices 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 Dermatological Devices market?
What is the correct price to pay for Dermatological Devices? What are the key trends and factors that influence current and future pricing?
Which selection criteria are the most important for Dermatological Devices Suppliers Market?
Who are the top Dermatological Devices suppliers? What are their cost structures?
Which negotiation levers can reduce Dermatological Devices procurement cost ?
What are supplier margins in Dermatological Devices market?
What are the best practices for Dermatological Devices 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!

Dermatological Devices Category Insights: What is inside

The Dermatological Devices 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 Dermatological Devices procurement spend and pricing trends. The report further delves deep into the aspects of cost structure, total cost of ownership and supplier margins for Dermatological Devices. 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 Dermatological Devices 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 Dermatological Devices 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.

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

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?”

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Category Research Framework

SpendEdge presents a detailed picture of Dermatological Devices 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.