{"id":2351,"date":"2024-10-14T15:32:13","date_gmt":"2024-10-14T14:32:13","guid":{"rendered":"https:\/\/oximio.com\/?post_type=oximio-resources&#038;p=2351"},"modified":"2024-10-18T05:57:14","modified_gmt":"2024-10-18T04:57:14","slug":"mastering-the-clinical-trials-supply-chain-navigating-the-procurement-iceberg","status":"publish","type":"oximio-resources","link":"https:\/\/oximio.com\/resources\/mastering-the-clinical-trials-supply-chain-navigating-the-procurement-iceberg\/","title":{"rendered":"Mastering the Clinical Trials Supply Chain \u2013 Navigating the Procurement Iceberg"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"2351\" class=\"elementor elementor-2351\">\n\t\t\t\t<section class=\"elementor-element elementor-element-3a28d783 e-con-full e-flex e-con e-parent\" data-id=\"3a28d783\" data-element_type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-60bf678b e-flex e-con-boxed e-con e-child\" data-id=\"60bf678b\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-5dadeecd elementor-widget__width-inherit elementor-widget elementor-widget-text-editor\" data-id=\"5dadeecd\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div style=\"width: 806px;\" class=\"wp-video\"><video class=\"wp-video-shortcode\" id=\"video-2351-1\" width=\"806\" height=\"1140\" preload=\"metadata\" controls=\"controls\"><source type=\"video\/mp4\" src=\"https:\/\/oximio.com\/wp-content\/uploads\/2024\/10\/The-Procurement-Iceberg.mp4?_=1\" \/><a href=\"https:\/\/oximio.com\/wp-content\/uploads\/2024\/10\/The-Procurement-Iceberg.mp4\">https:\/\/oximio.com\/wp-content\/uploads\/2024\/10\/The-Procurement-Iceberg.mp4<\/a><\/video><\/div><p><span data-contrast=\"auto\"><br \/>When it comes to pharmaceutical procurement for clinical trials, there\u2019s more to it than meets the eye. The procurement iceberg is a great metaphor illustrating the visible and hidden complexities of pharma procurement and the clinical supply chain.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p><h2><span data-contrast=\"auto\">Above the Waterline: Comparator Sourcing &amp; Negotiation<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/h2><p><span data-contrast=\"auto\">The tip of the iceberg, above the water, represents the aspects of pharmaceutical procurement within the clinical trials process that are apparent and easily seen by sponsors and CROs. These include:<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p><p><i><span data-contrast=\"auto\">Comparator sourcing<\/span><\/i><b><span data-contrast=\"auto\">:<\/span><\/b><span data-contrast=\"auto\">\u00a0The process of selecting suitable suppliers based on criteria such as cost, quality, reliability, geography, regulatory requirements.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p><p><i><span data-contrast=\"auto\">Negotiations:\u00a0<\/span><\/i><span data-contrast=\"auto\">Agreeing the best price and terms for supplies or services from third parties.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p><h2><span data-contrast=\"auto\">Below the Waterline:\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/h2><p><span data-contrast=\"auto\">The hidden portion of the iceberg represents the challenges that are often overlooked in pharma procurement for a clinical trials supply chain. These are not immediately apparent but can have a significant impact on the overall process. Hidden aspects include:<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p><p><i><span data-contrast=\"auto\">Risk Management:\u00a0<\/span><\/i><span data-contrast=\"auto\">Assessing and mitigating the risks associated with supplier relationships such as financial health, geopolitical issues, logistics supply chain concerns. Back-up plans must be in place to cover all eventualities arising from unforeseen events.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p><p><i><span data-contrast=\"auto\">Contract Management:<\/span><\/i><span data-contrast=\"auto\">\u00a0Creating and managing contracts specifying terms and conditions, procedures, performance expectations and the resolving of any disputes.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p><p><i><span data-contrast=\"auto\">Compliance and Regulations:\u00a0<\/span><\/i><span data-contrast=\"auto\">Ensuring that all procurement activities comply with legal and regulatory requirements which can vary across countries and local territories. This includes the possession of any relevant certifications.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p><p><i><span data-contrast=\"auto\">Supplier Relationship Management<\/span><\/i><b><span data-contrast=\"auto\">:<\/span><\/b><span data-contrast=\"auto\">\u00a0Nurturing and maintaining positive relationships with suppliers to foster long-term collaboration but, if need be, the sourcing of alternative suppliers.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p><p><i><span data-contrast=\"auto\">Quality Assurance:\u00a0<\/span><\/i><span data-contrast=\"auto\">Quality assurance covers all aspects of the procurement and supply chain process. This can range from inventory control, data integrity to administration tasks.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">The procurement iceberg shows that successful procurement goes beyond simply sourcing suppliers and negotiating best prices. It highlights the need for a deeper understanding of the intricacies involved in supplier management, risk assessment, compliance, and strategic planning. Neglecting these hidden aspects can lead to inefficiencies, legal issues, disruption and most importantly the compromise of patient safety.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p><h2><span data-contrast=\"auto\">Oximio\u2019s Comparator Sourcing and Supply Chain Solutions<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/h2><p><span data-contrast=\"auto\">What a mountain to climb. Thankfully, at Oximio, we have 19 years\u2019 experience and expertise in providing complete, end to end,\u00a0<\/span><a href=\"https:\/\/oximio.com\/services\/sourcing-capabilities\/\"><span data-contrast=\"none\">comparator sourcing<\/span><\/a><span data-contrast=\"auto\">\u00a0and\u00a0<\/span><a href=\"https:\/\/oximio.com\/services\/logistic-solutions\/\"><span data-contrast=\"none\">supply chain logistics solutions<\/span><\/a><span data-contrast=\"auto\">\u00a0covering global clinical trials.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">To talk to one of our experts today and find out how we can support you with your clinical trial, simply\u00a0<\/span><a href=\"https:\/\/oximio.com\/contact\/\"><span data-contrast=\"none\">contact us<\/span><\/a><span data-contrast=\"auto\">.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"featured_media":2352,"template":"","meta":{"_acf_changed":false},"resources-categories":[6],"class_list":["post-2351","oximio-resources","type-oximio-resources","status-publish","has-post-thumbnail","hentry","resources-categories-insights"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Clinical Trials Supply Chain | Pharmaceutical Procurement<\/title>\n<meta name=\"description\" content=\"Looking at the Pharmaceutical Procurement Iceberg Oximio Shows How to Master the Clinical Trials Supply Chain\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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