To successfully compete in the tender and contracting (T&C) market, Life Sciences companies require a strong and robust tender organization with a global-to-local tender strategy. This “Think Global, Act Local” strategy can be achieved by implementing a Global Tender Network with country Tender Champions where the whole organization partners with multiple, cross functional, corporate groups to develop and improve processes, systems and capabilities. As a result, the company can compete more effectively for Tender & Contract business as it works globally, regionally, and locally in collaboration to support markets to be more competitive and optimize tender & contracting outcomes.
If the T&C process is not well-structured, it’s impossible to target bids in an optimal way. The consequences of losing the overall tender would result in either not gaining access to the market, decrease of the market share, or generally speaking, a decrease of prices and ultimately of revenues.
Therefore, the local Tender Champions play an especially important role. They would be responsible for main T&C activities dealing with the business and for being the point-of-contact for markets in case of any challenges, issues or questions. In addition, the Tender Champion coordinates within the entire organization to enable smart and fast decision-making. To support the local activities, the Global Tender Network provides efficient processes, tools, policies, know-how and intelligence for tendering and helps the coordination across regional and global supporting functions such as Pricing, Global Manufacturing and Supply, Tax and Finance.
This “Think Global, Act Local” approach results in improved organizational efficiencies by not being too centralized without local know-how, or conversely, being too local without having a global view. In the end, the centralized Global Tender Network optimizes the results for the entire organization by evaluating outcomes and decisions globally.
If you want to learn more about how to improve the tendering process, check out our white paper: Tendering & Contracting Industry Trends.
Insights Through Practical Experience and Benchmarks from the Industry
The ability to strategically and operationally address tendering in global markets continues to be of critical importance given increasing competitive factors in the industry. We surveyed the life science industry on their tendering practices, and these are the results!