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Ten Steps to Lower Procurement Costs in Life Sciences: Drive Bottom Line Results in Only Four Months

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Executive Summary

Regardless of the economic conditions, companies that can quickly respond and take action to stay in the game ultimately emerge as market leaders. Now more than ever, the next generation of pharmaceutical and biotechnology leaders is being tested. Organizations that manage their cost structures and position themselves for growth can gain significant market share as the economy improves and the U.S. healthcare reform program evolves. The economy is expected to bear the worst of the recession through 2009, and companies that want to offset these effects must launch initiatives that will show definitive results this year. As companies look for ways to reduce costs as well as generate revenue, procurement has an opportunity to step up to the plate and provide these results.

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