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The Imperative for Procurement Digital Transformation: Life Sciences

Agile procurement insights research by SAP, in collaboration with Oxford Economics

There are few, if any, industries that have been in the spotlight as much as life sciences over the last few years. The pandemic has driven a need to innovate – and collaborate – at unprecedented speed. At the same time, life sciences’ global and complex supply chains have been under significant strain. With patient outcomes potentially at stake, it’s imperative for life sciences companies to prepare for and manage disruption.

Procurement plays a vital role in managing a company’s suppliers and the security of supply, quality, and inventory across global supply networks, contract manufacturers, and more. All while ensuring regulatory compliance and managing costs.

To understand Procurement’s readiness to support their organizations, SAP collaborated with Oxford Economics on research into procurement digital transformation, supplier collaboration, and external labor spend. We surveyed 1,000 procurement and supply chain executives in 23 countries and 14 industries.

Read on to see what we learned from life sciences executives and to see how you compare with your peers.

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