New Science for Bigger Savings
There is a new science for saving and operational excellence called “value analytics” that can squeeze every LAST drop of savings out of your supply chain and make your operations even more efficient and effective than ever before.
At a time when every dollar saved is surely needed to hold back the red ink at your healthcare organization, if you aren’t employing this powerful technique to uncover new savings and leverage operational improvements you are missing out on a powerful transformational tool.
It comes down to this! Most hospitals, systems and IDNs are throwing darts at an elusive and moving target to find their best savings and operational improvements. And with meager results! This is because most healthcare organizations aren’t employing a scientific approach to identify their best opportunities.
That’s where “value analytics” comes into play. It’s the art and science of measuring trends, patterns, and variations in your supply chain spend and operations in order to quickly identify savings and operational opportunities.
As an example, we recently found that one of our clients was trending unfavorable, by as much a $172,339, in their defibullator expenses. In another study, we found that a client of ours was generating too many purchasing orders for their size organization and therefore needed to reinvent their purchasing operations to reduce their operating cost.
It’s not an accident that we uncovered these anomalies in our clients supply chain operations. It’s because we employed “value analytics” to do the difficult work for us that never would be uncovered by the naked eye or even intuition.
That’s why I call “value analytics” the science for bigger and better savings and operational excellence. This is where the future of supply chain management is going. Is this the direction you are going too?
Filed Under: Best Practices • savingsblog
