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Biotech

How diversifying supplier spend helped a Biotech reinvest in lab space

A growing bioagricultural biotech was looking to increase lab space and bring manufacturing in-house. By turning to ZAGENO for help, the biotech set its sights on cost savings from automating and streamlining the lab supply ordering process to reinvest in expansion.
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Key Facts

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Client

Agricultural biotech in St. Louis

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Challenges

Manual lab supply purchasing process | High non-catalog spend | Long order to delivery time

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Solution

Automate lab supply ordering | Access competitive pricing and contracted service levels

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Results

Year over year: 18% cost savings | 78% preferred supplier spend

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Challenges

At the problem’s core was a very manual lab supply purchasing process that did not take advantage of preferred supplier spend, with challenges including:

  • Manual requisition process. Ordering via inventory management software was time consuming and had no easy multi-vendor price comparison.
  • Distributor monopoly. Manual purchasing process resulted in monopoly spend with global distributor, creating missed savings opportunities.
  • Lack of SLA accountability. Protracted order-todelivery time due to difficult SLA enforcement.
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Solution

Accounting and finance needed:

  • Simplified booking
  • Upfront shipping costs
  • Automated invoicing
  • Unified supplier terms

Scientists needed:

  • Wider product selection
  • MSRP or better pricing
  • Contracted service levels
  • No account setups or verifications

Access to the ZAGENO lab supply marketplace quickly met and exceeded requirements.

Client case - Biotech reinvest lab space

Results

Within months, user adoption grew rapidly, due in large part to ZAGENO’s Deals and Discounts feature where scientists immediately found qualified, in-stock items on discount used by the lab. Within 1 year with ZAGENO:

  • 57% increase in ordering users
  • 18% in savings from product comparison
  • 78% of spend with ZAGENO preferred vendors
  • 6.8 day reduction in average # of days from order to delivery
  • 13 new suppliers onboarded by ZAGENO

Lessons learned

Automation saves time and money. Automated ordering allows procurement to focus more strategically, gives scientists more time at the bench, decreases dependence on a limited set of vendors and promotes scaling.

Don’t put all your eggs in one basket. The ZAGENO lab supply marketplace offers instant access to over 40 million products across 3,500 suppliers that compete for your business based on price and quality, which offers freedom from the “usual” players.

About ZAGENO

With over 40 million product SKUs available from more than 5,000 leading brands, ZAGENO offers the largest life sciences lab supply marketplace. Our one-stop-shop solution helps scientists, lab managers, and procurement leaders compare products across vendors, easily source product alternatives, track deliveries, and communicate order status with R&D teams in real time. ZAGENO makes online shopping for any research material convenient, efficient, and reliable.

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