A development-stage Biotech company had a Procurement staff that was primarily focused on day to day operations. The team lacked strategic sourcing experience and bandwidth to investigate savings opportunities. Vendor awards for key categories had not been reviewed for many years, and the Executive Director of Procurement had concerns about pricing competitiveness. Few supplier management practices were in place; vendor management of laboratory stockrooms was poor, with disorganization and stock-outs affecting scientist productivity. Archstone provided a manager-level resource to work closely with the Executive Director of Procurement and improve processes within the department.
Identify areas for improvement within Procurement activities; build the team's strategic capabilities; and establish effective and efficient processes.
Archstone examined current spend, collaborated with internal stakeholders, developed sourcing strategies, initiated and analyzed RFPs, managed vendor communications, and developed transition plans. The categories sourced included lab, lab equipment MRO, office supplies, shipping, and IT hardware.
Archstone identified and helped to establish partnerships with new vendors that could drive key benefits to the client - both through savings opportunities and improved operational agreements. In particular, Archstone: