How to optimise sourcing in a sector where innovation and compliance go hand in hand
Procurement in the life sciences sector isn’t just about getting the best price, it’s about ensuring the continuity, quality, and integrity of supplies in a highly regulated and constantly evolving environment. Whether you’re sourcing lab consumables, complex biopharma components, or global research services, your procurement strategy must align with both commercial and scientific objectives.
At Accelerate, our procurement consultants have years of experience in working within the life sciences sector. Here, we discuss how life sciences organisations can strengthen their procurement strategies and deliver long term sourcing success.
1. Make compliance a core capability
Regulatory scrutiny is intense in the life sciences sector. From GMP (Good Manufacturing Practice) to MHRA and FDA requirements, compliance must be built into supplier selection and performance monitoring. Procurement teams must work closely with QA, R&D, and legal teams to ensure that every vendor meets stringent quality standards- not just on paper, but in practice.
Having a clear supplier qualification process, rigorous auditing mechanisms, and structured risk assessments will keep compliance at the heart of your sourcing model.
2. Create cross-functional collaboration
In life sciences, procurement doesn’t operate in a vacuum. Successful organisations break down silos between procurement, clinical operations, regulatory affairs, and finance. Early collaboration allows teams to align specifications, mitigate risk, and ensure the right balance between cost-efficiency and scientific integrity.
For example, sourcing a specialist CRO (Contract Research Organisation) without involving scientific or clinical colleagues could result in misalignment that wastes both time and budget.
3. Invest in Supplier Relationship Management (SRM)
Strategic supplier partnerships are essential, especially in biotech and pharma, where supply chains can be fragile and dependent on niche providers. Implementing a robust SRM programme can help strengthen resilience, drive innovation, and build trust. Consider developing joint business plans with key suppliers and holding regular performance reviews focused on continuous improvement.
SRM also fosters co-creation, enabling you to tap into suppliers’ technical expertise, particularly when exploring novel therapies or complex formulations.
You can find out more about how Accelerate can help with Supplier Relationship Management here.
4. Leverage data and digital tools
Life sciences procurement teams are increasingly turning to digital platforms for better visibility and control. From automated sourcing tools to spend analytics and e-procurement systems, technology enables faster, more informed decision making.
Tracking real-time data on supplier performance, lead times, and pricing trends helps you anticipate issues and pivot quickly: a crucial advantage in drug development timelines where delays can be costly.
5. Embrace sustainable sourcing
Sustainability isn’t a nice-to-have, it’s becoming a business imperative. Life sciences companies face increasing pressure from regulators, investors, and the public to demonstrate environmental responsibility. Embedding sustainability criteria into sourcing decisions- from low-carbon transport to ethical sourcing of raw materials- can help meet ESG goals without compromising scientific excellence.
At Accelerate, sustainability and sustainable procurement is something we believe in, and something we champion. Get in touch to discuss the ways in which we can help you embrace sustainable sourcing, in a way that doesn’t compromise performance.
Sourcing success for the life sciences industry: how we can help
In life sciences, procurement has evolved from a support function to a strategic enabler. By combining compliance rigour, collaborative relationships, digital innovation and sustainability, procurement leaders can help their organisations bring life-changing therapies to market- faster, safer, and more responsibly.
In a sector driven by precision and innovation, your sourcing strategy should be no less exacting.
At Accelerate, we are a team of experienced, entrepreneurial procurement leaders who have led and transformed global procurement functions and service provider organisations. Our team has a background in Pharmaceutical and Life Sciences, both as a buyer of and provider into. We are experienced in leading from client side and supplier advisory, through to delivery management on a range of projects, and have a proven track record in helping our clients in the pharma and life sciences sector overcome procurement challenges.