Quality, price and reliability are top criteria of buyers
BioSpectrum spoke to many industry people (Biotech, pharma, healthcare, government institutes, Hospitals) on the criteria while purchasing the equipment. Over 30 per cent of the people have agreed that quality is of utmost importance followed by competitive price 24 per cent (including taxes). 20 per cent of the respondents observed that reliability of the company and supply chain is another key criteria they look at while procuring equipment. The next to follow on the table include service (technical support, sales etc.) with 10 per cent and credit terms and period with 9 per cent. There are many other criteria (refer table) the industry people consider before taking the final decision on procurement of analytical tools, instruments and equipment.
We conduct initial level enquiry with the vendors to collate on information related to Availability of the required product in required quantity, Technical capability of the vendor, Financial capability of the vendor, Infrastructural capability of the vendor etc., Past Performance, Credit terms and Goodwill. Then we prepare the comparative statement in the standard format on details such as Price (including taxes), Credit period, Payment and delivery terms, Quality of the product offered and Discount offered etc. to take a final decision. We are planning to procure latest equipments in the field of Diagnostics like NGS, TFM, track system etc.
- Bhaskar Ghoshal, VP– Commercials, Dr Lal PathLabs
Quality and price of the products are the major determiners in choosing our bio-suppliers. Availability of Parts & Consumables is the next criteria as our major suppliers are MNCs operating out of India and timely availability of spares or consumables affect the turnaround time of our projects. We are in the process of getting GLP (Good Lab Practices) certification to our facility. So we have begun to shortlist the suppliers to procure some of the equipments like High end Flow-cytomer, HPLC and Blood Hematology Analysers.
- Dr Chaitra Harsha, MANAGING DIRECTOR, Vipragen Biosciences
The criteria for selecting a supplier is based on ability of suppliers to sustain quality, service level capabilities, cost advantages, financial standing and their process validation and quality certifications. Above are not in a sequential manner but simultaneous criteria to satisfy.
- Ajith Kumar, Head Procurement, Natural Remedies
Top five criteria include Quality, Information sharing and business partnership, Price, Reliability (supply etc), Business responsiveness (speed, quality etc).
- TS Giridharan, Vice President - Supply Chain, OmniActive Health Technologies
The quality of product is of utmost importance. Of course, there are many other factors like pricing, timely supply, expertise and association and business dealing, we need to consider while dealing with the suppliers.
- S Vasudevan, Supply Head, Genetix Biotech Asia
The attributes I consider most important while selecting a supplier are the service, technical efficiency, experience, reliability and good pricing. Out of these, service and reliability are two prime factors on which one cannot compromise.
- Richard Johnson, Director, Supply and Service, J J Biotek