Blog

BioProcure is a strategic sourcing and procurement services firm. We assist emerging biotech research organizations and the venture capital firms funding them with lab procuring, data entry, and purchase matching.

Startups and small businesses often rely on operations and lab managers for a variety of roles including managing inventory, ordering of equipment and consumables, and maintaining records. It doesn’t take long for these roles to lead their focus away from other priorities such as staffing, ...

In order to efficiently manage your procurement, the first step is to understand your purchase spend, which is much easier said than done, especially without a dedicated procurement team. Below are tips to get you started with your procurement spend analysis.

Companies and investors have long been under the illusion that they can either hire a visionary leader that focuses on an innovative company culture or a financially-oriented leader who is focused on cutting costs and reaching the bottom-line.

Although the words are used interchangeably more often than not, procurement and purchasing are not synonymous. First, let’s take a look at their definitions:

This is a guest blog by Paul Giese. Paul is the founder of intheBlk software, a firm that specializes in long-range planning and ASC606 revenue recognition for biotech organizations. When he isn’t working on financial models, Paul enjoys spending time with his wife and one-year-old son. You can ...

Accounts payable is a term that we must understand in order to be effective procurement professionals, and that all executive team members must understand in order to successfully run a business. In simple terms, accounts payable is a record of what the company owes in terms of payments owed to ...

In an ideal world, biotech organizations would have full–service purchasing and AP departments. In reality, most of the emerging biotech startups have scientists and a small administrative staff to handle purchasing and accounting, taking time away from the core operational work and vital research ...

Companies small and large make the business decision to hire firms to do procurement services for them. Good procurement strategies are often what sets apart profitable companies from struggling ones.