Nuclear Magnetic Resonance Scanners Market Procurement Intelligence Report

Medical and Surgical Equipment and Supplies market around the world is undergoing rapid transitions that have a massive potential to influence the way companies strategize for Nuclear Magnetic Resonance Scanners procurement and the cost they have to incur. Many suppliers are expanding within the value chain to offer integrated solutions. With this new approach, suppliers can offer a wide portfolio of solutions and position themselves for large contracts that go beyond just Nuclear Magnetic Resonance Scanners. Buyers also find the benefits of volume buying, consolidation of supplier base, efficient co-ordination in case of an event and less spending on category management.

Companies that serve multiple markets are increasingly facing the dynamism in regulatory frameworks across countries. Coupled with increased costs across the value chain, suppliers are hard pressed to alter their business models and pricing structures to remain relevant in the 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.

Sometimes, procurement functions are unable to timely alter their practices while responding to market conditions. Industry experts acknowledge that periodically reviewing procurement best practices and adopting learnings from across procurement categories can help procurement teams respond to market needs in a more agile way. This report combines our experience of other categories with Nuclear Magnetic Resonance Scanners procurement insights and hand picks best practices that can work for category managers delving in this market.

For example, Buyers should look to minimize the 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. Although these clauses are not very common in the category, suppliers may still insist on them, especially in situations where buyers' liquidity or financial health is in question.

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.

Large organizational buyers can leverage their scale of operations to initiate competitive bidding between suppliers. Competitive bidding would enable buyers to have a better visibility of the market prices and may help identify suppliers that offer the most competitive price offering viz-a-viz other players.

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