Determine Total Cost of Ownership & Minimize Risk of Reprints Spend 

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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.

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Determine Total Cost of Ownership & Minimize Risk of Reprints Spend 

  1. 1. Determine MinimizeTotal Cost of Risk of Reprints Ownership Spend 18 October 2011
  2. 2. Poll Question #1 What is your level of familiarity with reprints spending today?  Very familiar  Somewhat familiar  Not at all familiar
  3. 3. Reprints = sciencein article form
  4. 4. Supporting:  Value-added HCP interactions  Quality patient care  Increased Rx/device sales
  5. 5. Representing  Creative servicesmillions spreadacross common  Media buyingmarketing  Meetings & eventsspendcategories  Printing  Advertising  Promotion  Campaign spend
  6. 6. With key drivers expected to increase spending
  7. 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. 8. Drivers such as laws &regulatory guidance that limit gifting
  9. 9. Understanding The Supply ChainThe 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. 10. Consulting the supply market When to engage vendors pre RFPHigh 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 whatLow the optimal solution is Low High Number of providers
  11. 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. 12. Spending without & with aggregationNon-Optimized: Up to 50% total savingsOptimized: Group $ Savings
  13. 13. Poll Question #3 Does your company single source reprints today?  Yes  No  Not sure  Not applicable (eg not a buyer)
  14. 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. 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
  16. 16. Q&A
  17. 17. Thank you.

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