As a procurement professional in the Life Science industry, you help your organization improve management and visibility of marketing spends such as media services and printing.
However, purchasing of clinical reprints is one marketing spend that often flies under the procurement radar. Reprints costs often reach tens of millions of dollars each year.
The potential risk with reprints can far exceed their cost. Additionally, this spend may increase with sales force adoption of new technologies such as the iPad.
By attending this webinar, you will receive practical steps for sizing up the fragmented reprints spend within your organization. You’ll take away an understanding of the total cost of ownership:
Cost structure
Additional fees
Group purchasing
Training
Reprints are vital to a wide spectrum of your organization. Review this presentation to understand the reprints spend and to see an efficient effort to reach annual performance goals.
7. Poll Question #2
Has your company deployed
iPads to sales team that
engage with HCPs?
Yes
No
Not yet, but planning to do so
Not sure
Not applicable – we don’t engage HCPs
directly
8. Drivers
such as
laws &
regulatory
guidance
that limit
gifting
9. Understanding The Supply Chain
The flow of reprints
Aggregators
• eDevelopment
• Ease of access
• Order aggregation
Publishers
• Own content
Pharma & Device
IP
Companies
• Determine • Buy reprints to
price boost sales
• Control usage
rights
Ad Agencies:
• Buy reprints on
clients’ behalf for
campaigns
10. Consulting the supply market
When to engage vendors pre
RFP
High
2. Growth Market 3. Mature Market
Some benefits in engaging vendors pre RFP Limited benefits in engaging vendors pre
RFP
Growth in Demand
Reprints
1. Early Adoption Market 4. Commodity Market
Significant benefits from engaging vendors pre Very limited or no benefit in engaging
RFP vendors pre RFP
eReprints
Uncertainty about what the
market can supply and what
Low the optimal solution is
Low High
Number of providers
11. The Reprints TCO Framework
Simple %
Aggregation & mark‐up,
combined order single
processing for double‐ manufacturer
digit cost savings market
Cost reduction
through local
printing, faster
Can be eliminated turnaround, &
digital readiness
via faster service &
turnaround
12. Spending without & with aggregation
Non-Optimized:
Up to 50%
total savings
Optimized: Group $ Savings
13. Poll Question #3
Does your company single
source reprints today?
Yes
No
Not sure
Not applicable (eg not a buyer)
14. 5 Tips
Engage the right stakeholders
Establish the baseline
Specify outcomes not processes
Focus on TCO & value not price
Consult the supply market
15. Bonus Tip:
Avoid Common Pitfalls
Users don’t always prefer YANTS
(yet another new technology solution)
Reprint quotes can be manipulated
Don’t forget multiples: article collections
Copyright reputations aren’t all equal
Electronic & iDeployment
capabilities are critical