Few industries are as complex, fast-paced, and highly regulated as pharmaceuticals and life sciences. From the sourcing of raw materials to global distribution of life-saving medicines, procurement plays a central role in keeping the sector resilient, compliant, and competitive. Drawing on Accelerate’s experience in the pharma and life sciences sector, here are some best practices the wider business community can learn from.
1. Compliance as a core value
In pharmaceuticals, compliance is non-negotiable. Good Distribution Practice (GDP), Good Manufacturing Practice (GMP), and strict traceability requirements shape every sourcing decision. Procurement teams embed compliance into supplier onboarding, audits, and contracts, ensuring that regulatory obligations are met while protecting patients and brand reputation.
Key takeaway for other sectors: Treat compliance as a proactive enabler of trust, not just a box-ticking exercise.
2. Building resilient supply chains
The pandemic highlighted the vulnerability of global pharmaceutical supply chains. In response, leading organisations have diversified supplier bases, increased safety stocks for critical materials, and mapped supply chains in detail through the tiers to identify potential risks.
Key takeaway for other sectors: Invest in visibility, dual sourcing, and scenario planning to improve continuity in uncertain times.
3. Partnering for innovation
Procurement in pharma is not just about cost; it’s about enabling innovation. Strategic partnerships with suppliers are common, whether to co-develop new packaging solutions, support cold chain logistics, or adopt new digital tracking technologies.
Key takeaway for other sectors: Position procurement as a bridge to innovation by nurturing deeper supplier collaborations.
4. Data-driven decision making
With global operations and complex product portfolios, pharmaceutical companies rely heavily on data analytics. Advanced tools help forecast demand, monitor supplier performance, and even predict disruptions before they happen.
Key take away for other sectors: Use analytics not just to cut costs, but to drive smarter, faster decisions across the supply chain.
5. Embedding ESG into procurement
Pharmaceutical and life science businesses are under increasing pressure to reduce carbon emissions and ensure ethical sourcing. Procurement teams now assess suppliers against ESG standards, invest in sustainable packaging, and build carbon reduction into network design.
Lesson for other sectors: Make sustainability measurable and a standard criterion for supplier selection.
Procurement for the pharmaceutical sector
Procurement in the pharmaceuticals sector demonstrates the value of combining compliance, resilience, innovation, and sustainability into one integrated strategy. While the stakes in pharma are uniquely high, these best practices are universally relevant. Businesses in every sector can enhance performance and resilience by adopting the same principles.
At Accelerate, our team of procurement consultants have years of experience working in the pharmaceuticals and life sciences sector. We understand the best practices which can help businesses within the sector stay resilient, compliant, and competitive.