Procurement is at an inflection point. For many leading companies, procurement has been transformed into a linchpin of enterprise strategy.
Although the pharmaceutical industry has been quick to embrace the value of partnerships and the subsequent improved access to new business opportunities, initially many companies did not fully understand what it really takes to be successful at alliance partnering.
Healthcare organizations are increasingly entering into new partnerships - whether merging with or acquiring other hospitals or creating new affiliations.
In recent years, the phrase “trusted advisor” has become somewhat of a buzzword, and in many situations is used synonymously with having a good relationship with clients.
Organizations only have one chance to set up an alliance correctly. Stakes are high: companies commit significant resources to alliance deals that are central components of their long-term strategies.
Well, those weren’t quite John Lennon’s exact words, but as customers are increasingly looking to engage in a more collaborative and strategic way with their key suppliers, in some ways it’s nothing short of a “revolution.”
As pharmaceutical and mid-sized biotech companies increasingly seek to enhance their pipelines through externalized relationships, the option deal—typically with a smaller biotech—has become an increasingly popular contract structure
Successfully challenging an incumbent requires a thorough understanding of the customer's underlying needs and concerns - which in turn requires persistence, patience, and open inquiry.
Perhaps one of the most common tactics sales people encounter when negotiating with customers is threatening to switch business to a competitor if they don’t get what they want; usually a discount, but can also be changing other business terms in some way.
Sourcing and procurement organizations are becoming more powerful and the breadth of the indirect spend under their domain, including professional services procurement, is increasing.