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Posted in LPS Topics By Erik Bennett November 16, 2017

Lab Procurement Services announces a strategic partnership with Proacure Corp. This partnership will provide a platform for transparent, optimized strategic sourcing, process delivery, savings realization and enhanced compliance to organizations worldwide.

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Posted in LPS Topics By Erik Bennett March 19, 2019

Cost Plus PricingThe 5th in a series of eight posts titled: “The View From the Other Side”

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Posted in LPS Topics By Erik Bennett May 10, 2019

The 8th part of an 8-part series titled:  “The View from the Other Side”

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Posted in LPS Topics By Erik Bennett April 29, 2019

The 7th in an 8-part series titled:  “The View from the Other Side”

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Posted in LPS Topics By Max Tyrrell April 16, 2018

Should you always take brand into consideration?

 

For commodity items used in the lab, are the much higher prices you pay for a brand name product really yielding more reliable results? Are they worth the premium price? Are you aware of how much more you are paying to get a brand name product?

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Posted in LPS Topics By Max Tyrrell April 18, 2017

This article discusses the changes that have occurred in the Laboratory marketplace relative to how the prices of products are determined.

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Posted in LPS Topics By Max Tyrrell March 08, 2017

There is a lot of discussion today about how well the very wealthy have done over the last 15 years compared to the other 99% of the U.S. population.   A parallel evolution has happened in the lab supply distribution business where the ‘A’ customers of the big distributors have the red carpet rolled out while the B, C and D customers get the Wal-Mart treatment – but without the low prices.

So in this article, you will first get a glimpse of what it’s like to be an ‘A’ customer.  Then we will explore what’s going on with the B, C and D customers…the other 99% of labs.

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Posted in LPS Topics By Max Tyrrell March 08, 2017

How do you change your procurement department from a cost center to a profit center?

All businesses, including laboratories are looking for more options to increase their profits. Procurement functions, today, play an increasingly important role in improving business performance and productivity. To enhance business performance, laboratories are exploring new procurement models, which include widening the supplier base, making it more responsive and more flexible. Companies are partnering with procurement outsourcing providers in areas such as procurement analytics and procure-to-pay cycles.

 

Utilizing LPS procurement services, clients are able to achieve rapid, sustainable improvement in their procurement performance, drive innovation, alleviate risks with regard to supply and steer growth. LPS's procurement services deliver several benefits including sustainable long-term savings in procurement that directly impact the bottom line. LPS focuses on managing the clients' purchases by delivering process efficiencies through organizational efficiency and effectiveness, and creating measurable savings quickly. The LPS procurement outsourcing solution helps laboratories restructure and revitalize their procurement function.

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Posted in LPS Topics By Max Tyrrell March 08, 2017

Let’s face it.  You don’t negotiate lab supply contracts very often.  At best once every 3 – 5 years?  The people you are negotiating with do this every day and they are much more skilled at this than you are.  Your advantage is that you have what they want – money.  You want as much for that money as you can get and they want to make as much profit as possible. 

In many negotiations or RFP’s I've seen, customers who ask often get what they ask for even if what they ask for is far more than a lab of their size deserves.  How do they do this? 

  • They know WHAT to ask for.

  • They make the competition appear real. (Everyone has a favorite vendor of course and even if you play your cards very close to the vest, distributors know that an incumbent has a leg up in any negotiation.)

  • They aren't too eager to sign the agreement. 

So what should you ask for?  Here is my list of the top ten things you should ask for when negotiating contracts with a major distributor:

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Posted in LPS Topics By Max Tyrrell November 07, 2018

This blog post discusses how smaller companies can utilize procurement services to save money and make better utilization of their available resources.

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