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The client is a pharmaceutical blister packaging firm based out of North America. Due to the complex nature of the North American pharmaceutical blister packaging market, assessing the company’s overall procurement competence, evaluating suppliers’ pricing and cost structure, and conducting price model analysis was becoming difficult for the company. The pharmaceutical blister packaging client, therefore, wanted to gather data on supply market capabilities, understand how their competitors are managing supply chain operations, and identify key trends driving the market. In addition, they wanted help in developing a better contract negotiation strategy with current suppliers, reduce maverick spend, and enhance operational efficiency. They approached the experts at Infiniti Research to leverage their expertise in offering procurement market intelligence solution.
Other key objectives of the client were:
Objective 1: Increase visibility and accessibility
Objective 2: Protect drugs from physical damage during transit
Objective 3: Improve patient compliance
During the COVID-19 crisis, it is critical for companies in the pharmaceutical blister packaging market to take calculative and well-executed measures to ensure business continuity in the long run. Request a free proposal to know how industry experts at Infiniti Research can help you plan and create comprehensive action plans to navigate the crisis. Request a FREE proposal here.
To address the business issues and meet the specific requirements of the pharmaceutical blister packaging market client, the experts at Infiniti Research carried out an approach comprising of primary and secondary research. The data gathered through primary and secondary research was validated with market experts and independent consultants. Also, Infiniti’s procurement market intelligence engagement involved tracking the latest developments and procurement trends in the pharmaceutical blister packaging market through secondary journals. The experts also reached out to key stakeholders, thought leaders, and end-users of consulting services to understand their views on the pharmaceutical blister packaging market.
Business impact of the procurement market intelligence solution for the pharmaceutical blister packaging firm:
By partnering with Infiniti Research, the client was able to identify new cost reduction opportunities and reduce procurement spend by 20%.
By leveraging Infiniti’s procurement market intelligence solution, the pharmaceutical blister packaging firm was also able to:
- Evaluate key suppliers’ cost structure and identify the right suppliers
- Increase efficiency, improve compliance, and reduce operating costs
- Devise a sound contract negotiation strategy
- Strategize their supply chain initiatives and reduce maverick spend across inventory
- Create visually appealing and texturally pleasing designs and drive patient engagement
For an in-depth market analysis on how COVID-19 will impact the pharmaceutical blister packaging market and data-driven insights to plan your next moves, request more info here.
About Infiniti Research
Established in 2003, Infiniti Research, is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies. To know more, visit: https://www.infinitiresearch.com/about-us.