Ideally, scientists can procure the exact products they need, when they need them, at the right price. Unfortunately, it’s not always that quick and easy. On average, scientists and lab managers spend one day a week searching for, comparing, and purchasing lab supplies. When up against the clock, the lab will order from whichever supplier has stock readily available. Maybe they’ll order from this vendor again, maybe they won’t. The result is a mountain of small orders from low-frequency suppliers, aka the long tail.
Many factors contribute to growing tail spend, including specificity of lab experiment supplies, the lab’s limited time to source items, and the need to quickly secure product alternatives in the face of backorders or delays.
Long tail spend not only costs money in the form of redundant, manual purchasing processes and experiment delays, but also leaves money on the bargaining table.
Luckily, there is a way to tackle tail spend and free up money and labor that can be reinvested into what matters, the science.
No matter how wild your long tail spend may be, a lab supply marketplace can help you tame it. Just imagine what you and your team will be able to accomplish once you free up all of the time and resources wasted ordering lab supplies to focus on what matters, those eureka moments. Learn how with ZAGENO.