Rapid Progression from Tactical Buying to Global Strategic Sourcing. Vice President, Planning & Procurement
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1 Rapid Progression from Tactical Buying to Global Strategic Sourcing Paul Anderson Vice President, Planning & Procurement
2 Agenda: Strategic Sourcing Journey Life Technologies Overview Tactical Buying vs. Strategic Sourcing Benefits of Strategic Sourcing Strategic Sourcing Journey Team organization Talent requirements Global commodity management methods Information systems enablers Indirect Spend Sourcing Example Expansion to New Product Introduction (NPI) sourcing Vision of the Future: Progressing Beyond Traditional Strategic Sourcing Q&A 2
3 What We Do and Who We Serve Our Business We serve We make, distribute and service: essential life science technologies through systems, products, services and expertise Communities where understanding biology and applying that knowledge can make a difference a $20B market Life Technologies Proprietary & Confidential 11/25/2010 3
4 The Creation of Life Technologies Profitable growth Solidified foundation $3.6B+ $3.3B 1987 Invitrogen founded $1.15B $2.4K $750M 2009 Life Technologies created through merger of Applied Biosystems and Invitrogen Aggressive investment through acquisitions Note: 1) Revenue numbers in circles are at beginning of period 2) Consensus revenue estimates as of May 17,
5 Now a Leading Player in Life Sciences Revenue ~$3.3B Products ~50,000 Customers ~75,000 Countries 160 Employees ~9,000 Patents and licenses ~3,900 5
6 And Spans Multiple Technology Areas Customers Government & Academic Research Institutions, Pharma, Biotech, Forensics Labs, Food Safety Labs, Diagnostics Companies GENETIC SYSTEMS ~$900M in revenue CE Systems Forensics SOLiD TM (DNA sequencing) Ion Torrent MOLECULAR SYSTEMS ~$1.6B in revenue qpcr Genomic Assays Biology Reagents CELL SYSTEMS ~$800M in revenue Cell Culture Essentials Primary and Stem Cells Cellular Analysis Beads Based Products BioProduction The broadest proprietary product offering 6
7 Our Company s Stability Comes From Diversification By Geography By End Markets By Product Mix Europe 32% APAC 10% Japan 10% Americas 48% Comm l Apps 1 15% Pharma & Biotech 30% Academic / Gov t 55% Instruments 20% Consumables & Services 80% Note: 1) Comm l Apps = Commercial Applications, such as forensics, diagnostics, water and food safety testing 7
8 and Scale Sales and Support ~1,900 field sales and service employees Local customer service and technical support personnel R&D ~1,400 R&D employees >$300M per year investment ~3,900 patents ~1,000+ products launched in 2009 Unparalleled scale & scope ecommerce ~13M website visits ~50% of all transactions $800M in e-commerce revenue; growing 20% per year Multiple electronic channels for customers to choose from Supply Chain & Operations ~160 countries served ~8,000 shipments per day ~11,000 orders processed per day ~35 manufacturing sites ~35 distribution centers 8
9 Maintaining a Top Ranking from Customers Strongest Products Strongest Service & Support Best Instrument Supplier 1,2 Best Reagent Supplier 1 Best Gene Expression Analysis 2 Best Cell Biology 2 Best Cell Culture 2 Best Customer Service 2 Best Technical Support 2 Best Website 1,2 Best Sales Force Note: 1) 2009 blind customer survey of 415 researchers worldwide; 2) 2009 LSIA Awards 9
10 By Addressing Customer Needs with Innovative Products Gibco Boxy Bottles Attune Flow Cytometer 7500 Fast Dx PCR ViiA 7 PCR System Breathing new life into a slow growth product through packaging designs Entry into a new market with a disruptive technology Rapid response to global flu Pandemic Most productivity enhancing PCR instrument available TaqMan Gene Expression Cells-to-CT Kit Countess Cell Counter SOLiD PI 3500 CE Innovative solution that is 4X faster than any product on the market Our most successful launch to date A bench top solution for next generation sequencing Specifically designed for commercial use Reagents Instruments and Bench Top Devices Full System Solutions 10
11 Strategic Sourcing At Life Technologies 11
12 Typical Characteristics Tactical Buying Little involvement in long-term product sourcing strategy development Tends to buy for single site Limited view of global requirements Generally involved late in the sourcing process Little time or incentive to drive consolidation of suppliers May handle a wide varied of products with limited expertise in any one area Perceived as mainly administrative May be a part-time role Strategic Sourcing Systematic, data-driven and fact-based Drives long-term supply strategy development & execution for a commodity or group of related products Global responsibility. Has technical expertise and business acumen. Full visibility of global spend and future requirements Leads the sourcing process well in advance of actual buying execution Perpetually updates strategy, taking into account changes to global conditions Selects best fit sourcing strategy from multitude of approaches Focus on strategy development, supplier selection, negotiations, vendor and cross-functional stakeholder partnerships. Limited tactical duties. 12
13 Benefits of Effective Strategic Sourcing Area Savings (direct cost, indirect cost, cost avoidance, cash flow optimization) Business Requirements Alignment to supplier network capabilities Risk management Supplier relationship management Product standardization Global programs and processes New Product Introductions Impact Large initial savings plus ongoing optimization to market pricing Ensures maximum revenue realized and capital properly utilized Proactive risk mitigation. Drives executive visibility to key issues. Drive decision-making Analytical supplier selection and consolidation with global coordination. Drive use of standard materials from qualified suppliers; higher volumes drives down cost Develops standardized enhancement programs and drives global implementation Speeds up NPI TTM and TTM$ through engineering standards and validated suppliers 13
14 Our Life Story: Evolution of Strategic Sourcing Invitrogen history: growth through many acquisitions plus organic acquisitions not centralized for manufacturing no global spend database minimal central sourcing functions Applied Biosystems history: growth mainly organic mostly centralized manufacturing one global ERP system; high degree of control global sourcing for Direct within Operations partial global sourcing for Indirect within Corporate long history of global strategic sourcing for direct materials 14
15 Our Life Story: Evolution of Strategic Sourcing Life Technologies Procurement Today Centralized the procurement function within Global Operations Global Procurement organization includes: > Global Direct Strategic Sourcing > Global Indirect Strategic Sourcing > Local site buying teams at factories around the world > New Product Introduction sourcing/execution team > Global Contracts team Recently Combined Global Procurement with Global Planning to also include: > Sales & Operations Planning > Production Planning & Inventory Management 15
16 Team Organization Global Operations Strategic Sourcing Operational Buying Cross-site Responsibility Primarily Site-specific Responsibility 16
17 Talent Global Sourcing Managers: Technical and business knowledge of product/service area (e.g. chemicals, biologicals, plastics, filtration, PCB, packaging, computers, temp labor, professional services, IT, facilities, travel, etc.) Financial/business analysis skills Negotiation & contracting expertise Selling skills for marketing of key programs (e.g. consignment inventory) Communication and interpersonal skills for Supplier Relationship Management and stakeholder management Project management skills 17
18 Global Strategic Sourcing Process Follow Your Choice of Traditional Multi-Step Process 18
19 Global Strategic Sourcing Process (cont d) Apply Appropriate Sourcing Strategy 19
20 Key Information Management Tools Global Spend Database Item, quantity, price, supplier Tiered commodity classification (harmonized) Vendor parent/child relationships automated Ideally linked to contract compliance monitoring Supplier Portal Automated communication of forecast and firm orders Broadcast communications Metrics and process access Potentially provide specification repository May include an online auction tool Internal Amazon.com Marketplace Directed spend to negotiated catalogs Reduces internal buyer resource requirements 20
21 Example: Simple Indirect Sourcing Category Promotions & Fulfillment 21
22 Category Data Gathering Insufficient data via Spend Database Data gathering via business units & accounts payable required for historical and projected Historic spend - $4.4M/year Approximately 20 primary suppliers Baseline pricing = Historic spend with incumbent suppliers (already discounted) 22
23 Strategy Selection Sourcing strategy Strategy Applicability Rationale Demand Management Driven by specific requirements Process Improvement Relationship restructuring Low cost country sourcing Competitive bidding Spend consolidation Improved reporting process and better spend management As commoditized in nature Potential to source from suppliers in countries such as China Significant competition in this space Significant fragmentation of spend across multiple suppliers 23
24 Selected Online Auctions as Negotiation Strategy Characteristic Negotiation tactic Promotions & Fulfillment category Market basket High value & high frequency purchases Categorized into apparel, electronics, stationery, accessories, Suppliers to bid final prices for each category & for multiple order sizes Non-market basket Miscellaneous items Specialized requirements Suppliers to bid on discounts off catalog prices 24
25 Online Reverse Auction = Significant Competition 25
26 Forward Auction on Non-Market Basket Items 26
27 Suppliers Chosen Based on Pricing & Service Offerings Selection Criteria Competitive bids received for each category in auction + Ability to meet service level requirements + Ability to service all LT locations + Past experience with supplier Suppliers Chosen: Promo 1** Promo 2 Promo 3 **Will host company store Consolidated from 20+ suppliers to 3 27
28 Award Scenario expected annual savings $1.4 M (~33%) Annualized savings ($ M) Promo 1 Promo 2 Promo 3 Total 28
29 Additional Benefits for Life Technologies No freight to be incurred on shipments to California; LT s rates to be used on all other shipments Volume rebates + Service level guarantees defined with each supplier Monthly spend reports will allow for tracking of spend Price savings Freight savings Total Total quantified savings ($ M) All selected suppliers are also minority business enterprises! 29
30 Steps to Ensure Compliance Process control Authorization of procurement department required for purchases above a set dollar amount (i.e. orders over $2,000) Communication Selected suppliers & company estore awards to be communicated to the organization and posted on Integration Central Monitoring Monthly spend reports from suppliers allow for tracking contract compliance Partner with A/P to ensure use preferred suppliers 30
31 New Product Sourcing Specialist Team Partner with R&D and Engineering Physically embedded in R&D space Specialist knowledge in multiple product technical areas Experts in sourcing of prototypes Expertise in navigating swiftly through internal processes and systems Adept at handling many engineering changes Great at getting suppliers to go the extra mile for rapid turnaround Guide R&D and Engineering to use preferred suppliers and qualified common materials Plan ahead for smooth transition from prototype to full production 31
32 Next Step: Adding More Value Supplier Collaboration & Lean builds on mature procurement practices to unlock 10-20% incremental COGS opportunity Source: McKinsey & Company, October
33 Value Levers Beyond Basic Strategic Sourcing Source: McKinsey & Company, October
34 Questions? Contact information: Paul Anderson Life Technologies 34
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