Supplier Diversity in Pharmaceutical R&D

Procurement decisions are no longer limited to cost savings, quality and time; sustainability is the new addition to procurement decision making. Risks arising from environmental and social factors, compliance, value creation and external demand are driving sustainable procurement. Supplier Diversity, an aspect that impacts the sustainability of procurement, has gained much importance today. This whitepaper attempts a roadmap to integrate supplier diversity into Pharma R&D supply chains. Pharmaceutical industry is reeling under pressure from dying pipelines and revenue loss from patent cliffs. There has been an increase in mergers and acquisitions, joint ventures and in-licensing. Outsourcing and externalization of services is also increasing. Cost effectiveness is of utmost importance. Pharmaceutical industry is reeling under pressure from dying pipelines and revenue loss from patent cliffs. There has been an increase in mergers and acquisitions, joint ventures and in-licensing. Outsourcing and externalization of services is also increasing. Cost effectiveness is of utmost importance. In this scenario, cost efficiencies are of paramount importance. Procurement is in forefront, driving cost effectiveness in external collaborations The R&D supplier landscape is very dynamic with considerable consolidation; the landscape is replete with integrated service providers that provide end-to-end services as well as specialized service providers catering to niche services. Off late, there is an increase in collaboration with niche or specialized service providers. This whitepaper focusses on one such class of niche service providers ? Diverse Suppliers.