A summary of a recent project to help a biotech company revise its outsourcing strategy and select the right CRO for them.
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- Challenge: Traditional CRO partnerships weren’t meeting the biotech’s needs for agility, transparency, and efficiency. Large CROs often prioritize profits from change orders (i.e. building in the idea that things will go wrong from the outset), creating frustration for the biotech team.
- Objective: Redefine outsourcing strategies to foster transparency, co-creation, and true partnership while reducing inefficiencies and costs.
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Key Steps & Solutions:
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- Engaging Expertise:
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We Provided operational clarity and helped design a fresh outsourcing approach, going through our proven process of:
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- Illuminating the exact requirements of the biotech company to understand what type of CRO would be the best fit for them.
- Igniting the project by adopting an innovative RFP strategy that got to the heart of the relationship between the biotech and CRO.
- Partnering with the biotech and CRO to ensure they were ‘in it together’ and working as a team to co-create the best outcomes.
- Cultural Fit First:
We helped the biotech focus on cultural alignment with CRO partners, ensuring partnerships were proactive, agile, collaborative, and co-creative. - Innovative and Collaborative Approach:
- Shifted from transactional RFPs to Project Partnership Meetings, replacing procurement-led processes with scenario-based, collaborative planning sessions.
- Built bespoke solutions with partners, emphasizing problem-solving and flexibility over rigid task-based approaches.
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Results:
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- Efficiency Gains: Predicted reduction in change orders of 40–50% through upfront clarity and co-creation.
- Time Savings: Investing time early streamlines later stages, minimizes delays, and prevents misunderstandings.
- Improved Outcomes: Establishing dynamic partnerships with shared risk, fostering innovation and faster delivery of treatments.
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Key Takeaways:
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- Transparency & Co-Creation: Open, honest collaboration leads to stronger, more adaptable partnerships.
- Focus on Fit: Prioritizing cultural alignment early saves resources and prevents future issues.
- Partnership Over Procurement: Treat CRO relationships as ongoing partnerships, not one-off transactions.
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This reimagined approach not only optimized outsourcing but also positioned it as a forward-thinking, collaborative organization – setting the stage for long-term success in their clinical trials outsourcing and vendor management activities.
