Outsourcing Strategy - Vendor Selection
Finding the most suitable vendors in Europe is the key to successfully conducting your clinical trial.
LUMIS International acts as a neutral advisor who will find the best possible outsourcing partner(s) for your clinical trial – whether it be a central laboratory or a contract research organization (CRO) – to fit the specific needs and requirements of your company. LUMIS International can provide the specific tools and information which will help your company find the best possible partner(s) to implement your clinical trial. Through our partners at Salvius Legal, you will get the requisite contract management and legal support needed in drawing up contracts with vendors and/or sites.
It is often particularly difficult for small and midsized biomedical companies to properly evaluate the outsourcing market. Because these companies often have limited resources, they need to be supported by CROs. Cost restrictions, however, can limit the outsourcing potential. To find the right balance in outsourcing, insourcing, or one’s own performance calls for a thorough understanding of all cost drivers.
The following needs to be considered when selecting the best possible CRO:
- Experience with indications
- Company size & corporate culture
- Speaking the same business language
- Mutual understanding of partnership
- Solution oriented, effective performance
- Optimal price/value ratio
Our continuously updated vendor selection database ensures that you will always receive the latest and most accurate information.