Clinical trial logistics is hard. Finding a supply chain solution that is right for your company, as well as qualified personnel to handle it, can be a challenge. To make sure your business‘ needs are fulfilled, seek out accurate information and stay on top of industry trends. Don’t make life more difficult for yourself by falling prey to some common misconceptions about outsourcing clinical trial logistics.
We’re here to help with misconceptions and benefits of going with an external research logistics company.
Misconceptions about Outsourcing
1. Outsourcing logistics results in increased trial costs
Although you will be paying others to do the work for you, these costs are usually offset by savings in other areas.
- According to The State of Logistics Outsourcing 2016, outsourcing will cause:
- logistics costs to decrease by 11%
- inventory costs to fall by 6%
- Bay Area Research Logistics will provide you with the most cost-effective approach to running your clinical trial
2. No outsourcing company can match our in-house skills and knowledge
One main reason companies outsource logistics is because they require expertise in the ever-changing clinical trial ecosystem.
BARL’s processes and technologies can help you do a better job at streamlining your clinical trials:
- Thorough understanding of regulatory requirements
- Knowledge and implementation of trends and technologies
- Experience to manage the supply chain using information and analytics to drive decisions
3. We will lose control of our strategy and brand reputation
With a well-structured outsourcing agreement, you can actually increase control.
- We will work with you to design strategies and solutions to alleviate problems – two heads are better than one
- We focus on quality assurance and performance consistency, so as to not undermine your brand
- We will develop a solid communication strategy to provide full transparency and avoid conflict
4. The trial will take more time if we outsource
Outsourcing firms have measures in place to anticipate and mitigate risks; hence decreasing the duration of the trial.
- We provide reliable and flexible services to meet your needs on time
- We relieve you from the burden of daily logistics tasks
- We have the resources and personnel in place to be able to adapt and adjust quickly, in case of any unforeseen challenges
Why Outsource Your Clinical Trial Needs?
- So you can focus on core activities that are more vital for the company
- Increased quality, efficiency, flexibility, and productivity
- Expertise from highly-qualified personnel of the third party
- Accelerated project timelines and risk reduction initiatives
- Considerable cost savings
Stats on Outsourcing Logistics
- 15% savings of total logistics costs
- 30% quicker completion times
- 70% of companies who outsource their logistics said that it has reduced their overall logistics costs
- A 10% improvement in predicting failure before initiating a trial can save $100 million in costs
- $20 billion of R&D spending wasted annually due to poor clinical trial management and planning
Clinical trials will not get simpler any time soon. Outsourcing has been and will continue to be a game-changer for pharma and biotech companies. Feel free to reach out to Bay Area Research Logistics to learn more about how you can reduce costs, increase operational efficiencies, and improve outcomes for your clinical trial!