Healthcare

Delivering Expert Insights in Pharmaceutical Procurement and Supplier Landscape to a Global Big 5 Consulting Firm

<ul><li style="text-align: justify;"><strong><u>Client Need:</u></strong></li></ul><p style="text-align: justify;">At the height of the Global COVID-19 Pandemic, a leading global big 5 consulting firm needed insights in the pharmaceuticals arena. The client needed to augment their understanding of procurement of molecules &ndash; Active Pharmaceutical Ingredients (APIs), Finished Dosage Forms (FDFs), the supplier landscape for these, and the impact of the COVID-19 pandemic on volumes and cost. The client needed an in-depth and first-hand perspective on the procurement of large volume APIs and intermediate products along with an understanding of the main suppliers and the market share for each supplier. Furthermore, the client queries revolved around analyzing suppliers along with the criteria used to analyze them and the impact of the COVID-19 pandemic on price, volume, and managing suppliers profitably.&nbsp;</p><ul style="text-align: justify;"><li><strong><u>Knowledge Ridge Solution:</u></strong></li></ul><p style="text-align: justify;">Knowledge Ridge researchers selected relevant experts who have experience with the purchase/procurement of APIs, FDFs, and intermediate products from the pharmaceuticals arena. Experts were phone interviewed to understand their direct involvement, and shortlisted senior executives, C level, and key decision-makers such as Vice Presidents, Heads of Production, and Heads of Procurement from leading pharmaceutical companies. Their biography was drafted as per Knowledge Ridge&rsquo;s phone interviewing process. The final list of experts was sent to the client for their selection.</p><ul style="text-align: justify;"><li><strong><u>Knowledge Ridge Impact:</u></strong></li></ul><p style="text-align: justify;">Knowledge Ridge identified 24 experts who had extensive experience in the pharmaceutical space. The client selected 19 experts and conducted hourly phone consultations with each of them. This helped our clients get first-hand perspectives and actionable insights into the procurement of molecules &ndash; APIs, FDFs, and intermediate products, their supplier landscape including main suppliers and selection criteria, and the impact of COVID-19 pandemic on price, volume, and cost.&nbsp;</p>