The methods used in the outsourcing partner selection are more relevant to the industry than ever before with the big pharma and biotech companies looking to cut costs and optimize their spending. The data derived from the input of the executives responding to Nice Insights Q3 Pharmaceutical, and Biotechnology Outsourcing survey indicates that the companies will outsources an average of 4.38 services in the coming year. The top rated method employed in the selecting contract research and manufacturing partners is hiring consultant that use a referrals attendance at trade show events were the second and the third respectively.
The use of the online searches or directories as a short listing method ranked at the below the aforementioned in the list reported screening methods. The fact that it is likely due to many pharma and the biotech companies remaining somewhat skeptical of the credibility of the online search. The prevalence of the industry specific groups on the websites such as the Linkedin which focus on creating the message board like search and discover approach to the partnership opportunities. The groups are useful for the conveying the capabilities and the contact details but since the information often derives from the CROs and CMOs directly. There is a little in the way of the unbiased assessment.
The Information provided on the websites that is often vague and poorly delivered. The Nice Insight itself intelligence on 300+ CROs and CMOs, this includes the customer awareness and the customer perception scores the relative to the market. This is not only does provides the group with the insight into the performance into their performance relative to the biotech companies to screen and select prospective partners. Beyond the awareness and the perception data, the peripheral features available to the users of the nice insights continue to be enhances. The survey data indicated the perceived value in attendi8ng the trade shows as a well establish and popular means of the evaluating and connecting with the prospective partners. The nice insight recently introduced a lead generation tool that helps CROs and CMOs to connect with the pharma and the biotech executives that have indicated that they are seeking outsourcing partners. The individuals are not included in the panel of the executives tha provide feedback to their quarterly research int he report.
The Nice Insight will also offer a trade show tracker featuring of the CROs and CMOs features in its company index. This will offer a comprehensive list of the shows that each of the company is attending in the 2012. It helps the users to plan their trade a show based screening for the year much more effectively as well as being another facet to plan their trade show-based screening for the year much more effectively. When it comes to the online tools for the CRO and CMO selection, it is important to realize that they are not meant to replace the human element in the consultancy and referrals or the traditional value of the trade shows.
REFERENCE:
http://www.pharmpro.com/blogs/2011/11-Tools-That-Improves-Outsourcing-Selection/
