Introducing the PharmaSource community: Our mission and members

PharmaSource is the world’s first dedicated community for procurement and sourcing professionals working in the Pharmaceutical and Biotech industry.

Here is summary of why we have launched this private peer-to-peer community now and how you can be a member of a community with a combined annual procurement budget of over $33 Billion (and growing).

Challenges facing procurement

COVID-19 changed everything.

While the pandemic proved beyond any doubt the importance of the pharmaceutical industry, it also put the spotlight on the lack of resilience and inefficiencies in the supply chain. At a time of spiralling global inflation and regulatory pressure, the top priority for procurement professionals need to employ radical?cost containment strategies, at the same time as maintaining the highest quality manufacturing.

Sustainability and ethical business practices are now at the very top of Board priorities. Challenging targets are forcing the need to rethink partnerships and operating models in order to deliver more sustainable, data-driven supply chains.

Meanwhile regulators such as the US Senate are putting pressure both on price and reducing reliance on foreign sourcing. From our research, here are some of the top challenges the community faces:

PharmaSource is designed to be a safe, private space for?the community to collaborate and share best practices.?It?is founded on the belief that, following the disruption caused by the COVID-19 pandemic, we believe it is more important than ever to establish resilient, digital-first communities that bring people and supply chains together.

The community is first launch from?Life Science Networks.?The company was recently co-founded by Chris Kilbee and Luke Bilton , event industry veterans with extensive experience in the pharmaceutical industry.?

Who are our members?

Membership to PharmaSouce is free for procurement and sourcing professionals working in Pharma. Our membership growing rapidly, and already includes hundreds procurement professionals from the world’s leading pharma companies listed below.

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A community with buying power

Our growing membership already?has a combined annual procurement budget of

$33 Billion?USD buying power

To put that number into context, it’s the equivalent GDP of a nation such as El Salvador or Sengal, which really highlights the critical importance of procurement in Pharma.

Members have a responsibility for a wide range of categories, covering all the main areas of procurement within the pharmaceutical industry. Responsibility covers CDMOs for ingredients (APIs, Excipients, Intermediates) to Supply Chain logistics, Packaging, Indirect Procurement, Software and technology and CROs.

Membership is global and is currently weighted towards?Europe (49%) and?North America (39%).

Founding Principles

PharmaSource’s mission is connect and empower procurement and sourcing professionals online and at in-person events.

Whatever the medium, our key priorities are as follows:

1. Peer-to-peer learning and best practices

Our focus to empower sourcing leaders with the tools they need to tackle the biggest issues they face, such as balancing cost containment and quality, and how to create more diverse and sustainable partnerships.

PharmaSource creates a space to connect, collaborate, and advance your career. Best practices will be shared, as members learn from each other through?online workshops and in-person meet-ups,?community groups, and?regular Podcast interviews?with members of the community.??

2. Curated meetings with pre-approved partners

We believe that finding the right choice of strategic partners has a transformational impact, not only on cost but also on innovation and ESG, and so we are dedicated to making discovery of trusted new partners more efficient and effective.

Our matchmaking programme,?PartnerMatch?will connect the community with curated 1-2-1 meetings with trusted pre-approved partners that are proven to deliver?reliable and innovative solutions to the pharmaceutical industry.?

Suppliers?go through a screening process to ensure they have the correct pharmaceutical certification, sustainability and ethical work practices.

3. Tackling diversity and inclusion

A key objective of the community is to support diversity and inclusion within the community and with the suppliers they work with. We recognise the underrepresentation of women at the senior level in STEM industries. and we aim to change this by providing a space where women can grow and thrive in their careers with the?Women in Sourcing?community group and mentoring a priority.

The?Sourcing100?will recognise the people who are making the most influential in shaping pharma & biotech sourcing for the better. The list aims to shine a light on the?individuals that are doing the most to improve procurement in the pharmaceutical industry.?

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Want to get involved?

Membership to PharmaSource is free for sourcing professionals from the leading pharma companies, and we invite them to apply to?register here.

Suppliers can apply to here.

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