Efficio, a consulting firm specialised in procurement, has secured a two year managed services contract with Bio Products Laboratory. As part of the deal, the London-based consultancy will support the life sciences firm with transforming its procurement function into a ‘world class’ operation.
Founded in 1954, The Bio Products Laboratory (BPL) is a company that manufactures a wide range of human plasma products. The firm, owned by Bain Capital (80%) and the UK Government (20%), is located in Elstree (UK) and sells its services and products in several other markets, including the US.
In line with BPL’s strategy to bolster the efficiency of its internal operations, the company’s Head of Supply Chain and Procurement, Stuart Dickson, late last year launched a plan to transform the firm’s procurement function. The key objective of the plan is to grow the maturity of the procurement capability, says Dickson, a move which, once in place, will “deliver significant savings and ensure these savings are sustainable for the long term.”
To support the transition, BPL has hired Efficio Consulting (Efficio), an international consulting firm (7 offices globally) that is dedicated to supply chain and procurement matters. Under the undisclosed terms of the contract, Efficio has been tasked with supporting the transition to what should become a world class procurement function, delivering end to end procurement support underpinned by several technology offerings. The work will be led by Efficio’s London office, while, in certain areas, some US involvement is anticipated. “We will be working with Efficio to streamline and modernise our procurement processes across the business”, comments Dickson.
James Jenkinson, Vice President at Efficio, says he is “delighted” the deal, adding “This managed services contract enables us to develop a world class procurement capability at BPL, working closely with the management team to drive procurement best practices in terms of process, people and technology.”
Last year BPL also undertook an operational excellence transformation in, among others, its document services vertical. The project resulted in a 30% reduction in print volumes and improved visibility of print costs, which led to annual savings of around £50,000.