Connecting with Pharma and Biotech Procurement and Strategic Sourcing Leaders
Last week, our team attended and participated in ProcureCon Pharma, a small and intimate event attended by procurement and sourcing leaders from the Pharma and Biotech industry. ProcureCon gave us the opportunity to connect and discuss with over 60 procurement experts across 25 companies of all sizes and structures.
On the very first morning, Mary Kachinsky discussed the importance of choosing quality suppliers during her presentation on “Rationalize the Supply Base for Success”. As she presented various supplier intelligence options, she included tealbook as a new source of supplier information that procurement teams should be aware of. I am very grateful for the unsolicited mention, which created a wave of interest. Many attendees stopped by our booth to ask questions and have discussions with us about a few key areas:
1) the current challenges of easily gathering and sharing supplier information;
2) the importance of embracing new and innovative technologies to improve processes; and
3) the value in increasing category expertise amongst procurement and sourcing managers.
These conversations provided reassurance and validation that tealbook is unique and can elevate existing tools such as ERP systems and portals. Some procurement leaders told us that what resonated the most about tealbook was the ability for sourcing and procurement managers to anticipate when internal partners have a supplier need to become more proactive in supporting internal stakeholders’ requirements. Giving them access to fast and better information allows them to be more responsive and knowledgeable, which in turn translates into more valuable partners.
It was also encouraging to receive such positive feedback from procurement leaders of large pharma companies. They are looking for innovative solutions that can provide their teams and internal stakeholders with more visibility and transparency on suppliers. They see tealbook’s value in building institutional knowledge within procurement and with employees working directly with suppliers.
In our view, ProcureCon Pharma was a worthwhile investment of tealbook’s resources and time. We made more traction in two and a half days than we could have in months. We also gathered valuable feedback that we’ve already shared with our our team, so we can continue our mission to empower sourcing.
Most importantly, we got to know fantastic people in procurement, heard many entrepreneurial stories and endeavors, and made many new friends.
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tealbook is an exciting online platform that empowers sourcing and procurement professionals’ interactions with internal stakeholders. By quickly providing all of the information necessary to make an informed decision, including supplier details and status, industry recommendations, and existing connections to colleagues, tealbook helps identify the most suitable supplier options and facilitates collaboration on supplier needs. Through its robust yet streamlined approach to initiating the RFP process, tealbook empowers sourcing and procurement departments to enable collaboration and efficiency with internal stakeholders and suppliers. Similarly, tealbook offers suppliers a unique and powerful way to generate new business by increasing visibility and collaboration with sourcing and procurement – for the ultimate benefit of internal stakeholders.