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The Essential Guide to Digital Procurement for Life Science R&D Labs

Overview

No matter the stage of your life science organization, now is the time to focus on digital procurement. Maybe you’re still using spreadsheets and printed purchase orders. Perhaps you have an e-procurement system with limited supplier management and disconnected workflows. Or maybe you’ve implemented a procure-to-pay (P2P) or source-to-pay (S2P) platform, but are experiencing longtail and maverick spend.

Due to declines in R&D efficiency and increases in the cost to bring products to market, there has been a heightened focus on assessing procurement strategies and technologies in the move towards digital procurement.

In this ebook, we’ll address:

  • What is digital procurement and why it is so important for life sciences, R&D, biotech, and pharmaceuticals.
  • All about procure-to-pay (P2P) and source-to-pay (S2P) platforms.
  • Strengths and weaknesses of PunchOut catalogs.
  • Unique digital procurement implementation considerations for life sciences.
  • How to address unique digital procurement challenges for life sciences with an eCommerce marketplace.
  • How to get the most out of digital procurement.