Pharmaceutical and life sciences companies on average spend 24% of revenues on indirect or non-core spend areas. As the industry and operating models evolve, companies that don’t have the deep expertise, market intelligence and specialized technologies needed to optimize this spend will lose significant opportunities to extract value and innovative solutions from suppliers. By transforming how they manage indirect procurement, pharmaceutical and life science companies can drive hundreds of millions of sustainable savings.
24.8% of Pharmaceutical and Life Science company revenues go to indirect, or non-product purchases
REVENUE
21%Marketing Services
18%Logistics
9%IT/Telecom
9%HR Services
9%Construction/Capital Equipment
8%Secondary Packaging
7%Rent/Real Estate/Banking
6%Professional Services
5%Utilities
3%Facility Services
3%MRO
2%Travel
Procurian helps Pharmaceutical and Life Science leaders drive sustainable changes in their cost structures and capture this missed opportunity to extract more value from their indirect spend.
As procurement specialists, we saw the need for an infrastructure dedicated to optimizing all indirect spend on a global basis. When we couldn’t find it, we built it. The result? Our Specialized Procurement Infrastructure™, a new and transformational approach to procurement that is being deployed by company leaders to optimize spending, enable agility, and drive savings and supplier innovation to fuel growth.