Clinical Trial Managers and Clinical Trial Supply Chain Managers increasingly need to demonstrate to Senior Management that they are assessing multiple vendors to ensure that costs are reduced whenever possible. This requires multiple vendor and proposal assessments and price negotiation. Who in Clinical Supplies genuinely has time for negotiating prices?
In recent years Pharma and Biotech companies have also come under increasing pressure from Governments to demonstrate that they make a broad assessment of vendor companies in the market place and give fair opportunity to smaller diverse companies. This approach has been put in place to prevent market monopolisation, to ensure economic growth and encourage healthy competition. These policies trickle down into Clinical Supplies and how Sponsors want their CTSCM’s to approach outsourcing certain activities to the vendor market. The CTS vendor market is HUGE with hundreds of reliable service providers operating in the space. Most smaller Pharma and Biotech companies are those conducting new research; however these companies often have limited experience, resources or connections within the global vendor market to effectively review, approve, contractually bind and manage vendor companies. CTSS can give you the help and support you need to make the right decisions whilst satisfying the ones above calling the shots – both internally and externally.