Special thanks to co-writer Neelabh Saxena, Associate Director Pricing, Contracting, and Market Access.Read More
Nowadays, it’s a well-known fact that tender management is essential across most markets. Thus, as part of your tender management strategy, you must setup a network of tender champions or a global tender network. However to address the specifics of tendering across various markets and diverse portfolios, a tender management organization needs to be built.
Within any life science organization,...Read More
Tenders set the stage in the new procurement landscape
The importance of tenders is rising. Tendering has become a new, standard method of entry into the procurement game in most European countries, and even across Asia, Middle East and Latin America. This competitive form of procurement procedure by national, regional or local tender authority is often heavily regulated by law.
The most...Read More
The goal of a public company and the fiduciary responsibility of company executives is to maximize shareholder value. In simple terms, maximize profit, which drives long-term shareholder value. Pharmaceutical companies are no exceptions.
However, when commercial strategy is scrutinized, an interesting trend emerges. Let us assume that an executive goal is to maximize profit over the life of...Read More
One of the major work streams of a contract management repository initial implementation involves the processing of your existing contracts. These existing contracts will often be referred to as your backfile, or legacy contracts. How you decide to handle them will have a considerable bearing on both the duration and cost of your implementation.
Why is backfile important? Many experts feel...Read More
Tendering has become a global trend and one of the most frequently used procurement methodologies outside the U.S. Presently, at least a quarter of pharmaceutical sales are made through some form of tendering. But tender processes are complex and far from standardized across countries, making it highly difficult to understand and manage. In addition, it’s a constantly evolving framework with...Read More