- Capabilities Lead, Global Supply Chain & Strategy
- VP, Global Supply Chain Planning
- Assistant Director, Supply Chain and Cyber Directorate
- Vice President, Global Supply Chain, Quality Digital & Tech
- VP, Global Supply Chain
- Senior Director, North America Global Delivery Solutions, Global Supply Chain
- Director, Supply Chain, Nutrition and Health, North America
- Senior Director, Supply Chain
- Director of Regional Supply
- Sr. Director, Supply Chain
- Global Head of Digital Transformation Supply Chain and Commercial Excellence
The above is just a partial list of speakers and attendees at an upcoming conference in the United States.
What immediately caught my attention was the absence of ProcureTech solution providers—maybe one or two at most—and of those, the industry analysts cover only one semi-recognizable name.
Why?!
- The pharmaceutical industry invests significantly in procurement technology, driven by its complex and highly regulated supply chains. While exact figures can vary, procurement tech investment within pharma is growing due to digital transformation trends like AI, automation, and data analytics. This investment is aimed at improving efficiency, resilience, and compliance across procurement processes, especially in managing supplier relationships, risk, and cost-saving initiatives. (Source: ChatGPT)
- For instance, with the rise of autonomous sourcing, enterprises are adopting technology that automates over 50% of procurement processes, particularly in sourcing operations. This shift helps pharma companies streamline operations, reduce manual workload, and maintain better control over procurement. (Source: Chat GPT)
What possible reasons?
Given the depth and breadth of the pharma industry’s experience and expertise using technology in general, you would think that ProcureTech solution providers would have a notable presence—yet, where are they?
Think about the benefits of dealing with knowledgeable clients and taking an active role in the digital transformation of their supply chain versus a client who expects too much, knows too little, and still embraces the “no one ever got fired for buying IBM” mindset of past generations.
With a generational initiative failure rate of 80%, solution providers aren’t failing by themselves – it takes all parties to fail just as it takes all parties to succeed. No one does it alone!
In short, I want to work with “smart” stakeholders with whom I can actively engage and collaborate. The pharmaceutical industry certainly meets that criteria.
In the meantime, the same circus with the same rides continues to attract the same group of people saying the same things – what is the old saying about familiarity breeding contempt. Is it possible that the core traveling shows have become more of a social gathering where everybody comfortably visits the same booths of the same solution providers?
Does this suggest that there are only a handful of solution providers who could “truly” help the pharmaceutical industry?
“The only reason we sponsor this event is because everyone else, e.g., our competitors, is attending. If we are not there, are we missing out?” – Solution Provider Sponsor at a 2019 Procurement Event
The above response from an exhibitor at a conference to the question – do you actually generate leads as an event sponsor made me think. What do you think?
NOTE: I am not suggesting and either or scenario, but a reconsideration of where resources could be reallocated to achieve better results for both practitioners and providers. Remember the old saying – nothing happens outside of a comfort zone.
Additional Reading:
Pharma Supply Chains (Part 1): A problem of focus versus avarice? (October 11, 2011)
A report from PricewaterhouseCoopers (PwC) entitled “Supplying The Future: Which Path Will You Take?”, believes that the pharmaceutical supply chain will not be able to cope with new products as it is inefficient and underused. The reason for this conclusion is that PwC believe pharmaceutical companies are too focused on developing new products and regulatory issues while their manufacturing capability and supply chain is being overlooked.
from February 24th, 2011 About.com article “Pharmaceutical Supply Chain Issues” by Martin Murray
Pharma Supply Chains (Part 2): The Optional Supply Chain (October 17, 2011)
We’ve discussed why the vast majority of pharma companies will have to build supply chains with new manufacturing, distribution and service-management techniques, and some of the developments that can help them. But what route should they take?
from the PwC White Paper “Pharma 2020: Supplying the future: Which path will you take?”
30
Procurement Insights
Why Are ProcureTech Solution Providers AWOL From This Event?
Posted on September 8, 2024
0
The above is just a partial list of speakers and attendees at an upcoming conference in the United States.
What immediately caught my attention was the absence of ProcureTech solution providers—maybe one or two at most—and of those, the industry analysts cover only one semi-recognizable name.
Why?!
What possible reasons?
Given the depth and breadth of the pharma industry’s experience and expertise using technology in general, you would think that ProcureTech solution providers would have a notable presence—yet, where are they?
Think about the benefits of dealing with knowledgeable clients and taking an active role in the digital transformation of their supply chain versus a client who expects too much, knows too little, and still embraces the “no one ever got fired for buying IBM” mindset of past generations.
With a generational initiative failure rate of 80%, solution providers aren’t failing by themselves – it takes all parties to fail just as it takes all parties to succeed. No one does it alone!
In short, I want to work with “smart” stakeholders with whom I can actively engage and collaborate. The pharmaceutical industry certainly meets that criteria.
In the meantime, the same circus with the same rides continues to attract the same group of people saying the same things – what is the old saying about familiarity breeding contempt. Is it possible that the core traveling shows have become more of a social gathering where everybody comfortably visits the same booths of the same solution providers?
Does this suggest that there are only a handful of solution providers who could “truly” help the pharmaceutical industry?
“The only reason we sponsor this event is because everyone else, e.g., our competitors, is attending. If we are not there, are we missing out?” – Solution Provider Sponsor at a 2019 Procurement Event
The above response from an exhibitor at a conference to the question – do you actually generate leads as an event sponsor made me think. What do you think?
NOTE: I am not suggesting and either or scenario, but a reconsideration of where resources could be reallocated to achieve better results for both practitioners and providers. Remember the old saying – nothing happens outside of a comfort zone.
Additional Reading:
Pharma Supply Chains (Part 1): A problem of focus versus avarice? (October 11, 2011)
A report from PricewaterhouseCoopers (PwC) entitled “Supplying The Future: Which Path Will You Take?”, believes that the pharmaceutical supply chain will not be able to cope with new products as it is inefficient and underused. The reason for this conclusion is that PwC believe pharmaceutical companies are too focused on developing new products and regulatory issues while their manufacturing capability and supply chain is being overlooked.
from February 24th, 2011 About.com article “Pharmaceutical Supply Chain Issues” by Martin Murray
Pharma Supply Chains (Part 2): The Optional Supply Chain (October 17, 2011)
We’ve discussed why the vast majority of pharma companies will have to build supply chains with new manufacturing, distribution and service-management techniques, and some of the developments that can help them. But what route should they take?
from the PwC White Paper “Pharma 2020: Supplying the future: Which path will you take?”
30
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