Economic Upswing and Hospital Supplier Management

Just as the economic slide changed the face and fiscal aspects of the supply chain, the recent economic upswing is going to shift it again. This may be the time to use your ERP metrics to not only review, but possibly re-negotiate supply contracts. This is the time to take C-level decisions with direct input from the core supply management levels. Research to redefine current pricing benchmarks should be a priority, as well as looking at what is and is not on the contract. These changes in strategy also open the possibility to examine and realign the current in-house supply chain functionality. Going beyond the line item cost and percentages to pursue the most effect use of the funding possible. Taking specific points in hospital supplier management strategy:

  • Reinforce Lines of Communication

    The Executive supply committee, knowledgeable as they are, need input from all levels of the in-house supply system. Physicians, nurses, and supply coordination staff have specific insights that form the complete picture.

  • Automated Supply Chain

    Making maximum use of the automated system already invested in provides both baseline markers as well as projection metrics. Consider having your ERP evaluated for optimum usage.

  • Physicians Value Analysis

    Having proactive leadership in analysis committees from the Physicians assists in integrating medical staff knowledge base, as well as concerns. This also makes the Physicians available for input on contracts, decisions on formularies, and evaluation regarding new technologies.

  • Optimizing for Best Practice Evidence-Based Medicine

    Evidence-Based Medicine is moving to the forefront after taking a backseat to insurer driven days allowed and restrictions on treatments and procedures. Creating better outcomes, preventing repeated readmission, stopping infection spread is not only beneficial to the patient but cuts the outlay on supplies significantly.

  • Integrating GS1 Standards

    ERP paired with effective GS1 bar coding reduces stocking errors, reporting errors, and misdirected distribution to patients. If bar coding is not fully integrated with the current configuration being used consider consulting with an implementation specialist firm.

This information is only part of what should be considered when examining what the upturn in the economy means to the bottom line of any hospital. Optimizing the ERP software implementation is mission critical. Partnering with the most effective PeopleSoft consulting firm is best practice. Belmero is ready, with PeopleSoft experts available, to discuss all the options. Please, contact us.

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