Case Study - Researching the global wound care market in low-cost manufacturing regions
14th October 2013
Our Client: Our client is a UK based global wound management business that employs over 800 people worldwide and enjoys a multi-million pound turnover.
Project: Our client had a need to deliver low cost product alternatives for selective price sensitive global tenders. Previous attempts to source such products using internal resource had not been successful, so Lime Associates was engaged to identify what low cost alternative manufacturers existed in the global wound care market and to research whether they could satisfy the client’s needs for products with varying specifications and different levels of functionality.
Actions: We used our extensive network of medical grade global manufacturers in low cost manufacturing countries to identify 13 potential new suppliers that were interested in working on an OEM basis with the client. We then conducted an assessment of each of the companies’ capabilities, quality and compliance utilising existing knowledge and detailed research that included telephone contact.
The aim of the initial telephone contact was to encourage a quick response, create trust and to start to build a relationship with manufacturers as far reaching as Korea.. We used the information we gathered to compile a detailed report including a suitability matrix with indicative pricing that showed that the target prices set by the client were achievable.
Result: We presented our research findings and made the following recommendations so that the client had all of the information and insight needed to take the project forward;
1. Undertake a marketing and technical review against the price indications and interrogate the background data further to review and adjust the selected suppliers for the next stage.
2. Invite eight suppliers to submit a detailed RFQ stage to firm up OEM prices for comparison and supplier selection.
Summary: In only 4 weeks we were able to use our extensive industry experience and procurement knowledge to research the project and to deliver solutions that exceeded our client’s expectations. We identified 13 potential new suppliers that would satisfy the client’s need for low cost product alternatives for price sensitive global tenders.
Categories: Case Studies, Cost Control, Cost Reduction, Health Technology, Medical Device, Bio-Tech
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