Diagnostic Systems | Intelligence Report

Strategic Sourcing Guide to Diagnostic Systems 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 Diagnostic Systems. Buyers that have multiple locations under management are increasingly opting for a single supplier who can deliver the preferred solutions in a consistent manner across locations. Often suppliers with a physical presence across key geographies are preferred in such cases.

The growing need for highly skilled workforce specialized in Diagnostic Systems is driving suppliers to increase compensation for experience professionals to retain them. This is inflating their OPEX and causing increase in procurement costs.

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.

Diagnostic Systems Procurement Best Practices

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

For example, 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.

Investing in benchmarking studies help category managers enhance their knowledge about market pricing or billing rates based on job roles and functions. This allows them to not only save costs but also negotiate with suppliers. For example, while negotiating on rates of bundled services, buyers can save significantly on a single service by cross verifying the rates quoted by suppliers against industry benchmarks.

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.

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Risks in Diagnostic Systems procurement

Diagnostic Systems procurement managers also need to proactively identify and mitigate potential risks that can arise in the supply chain or contracts for Diagnostic Systems 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
When requirements of the buyers are not absolutely clear or usage patterns are not stable or predictable, suppliers often build in \"cost buffers\" for unforeseen risks due to a lack of complete understanding on buyer's requirements. This increases the risk of overspending on Diagnostic Systems
With rapidly evolving technology, suppliers are faced with the risk of technological obsolescence. Obsolete technology would not only deter adoption within the buyers' organization but could also result in inefficient process outputs

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Who should read this report

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

You may have just initiated your research to design a winning Diagnostic Systems 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 Diagnostic Systems 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 Diagnostic Systems 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 Diagnostic Systems market?
What is the correct price to pay for Diagnostic Systems? What are the key trends and factors that influence current and future pricing?
Which selection criteria are the most important for Diagnostic Systems Suppliers Market?
Who are the top Diagnostic Systems suppliers? What are their cost structures?
Which negotiation levers can reduce Diagnostic Systems procurement cost ?
What are supplier margins in Diagnostic Systems market?
What are the best practices for Diagnostic Systems 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!

Diagnostic Systems Category Insights: What is inside

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