Podcast 50 - Your Biggest Cost Savings Opportunity Is Often Ignored

For many in the healthcare supply chain, this this catch phrase (“providing the right product, at the right time at the right place”) has been the cornerstone of the supply chain’s best practices for over 50 years. Yet, we fail to ask these important questions: What happens after the product is in our customers hands? What happens after the contract has been implemented/converted and/or value analysis has chosen the best valued product? We know that the right price is in our ERP/Purchasing Systems, but do we know if the projected savings hit our bottom line? In order to get a better grasp on this vital concept, savings validation needs to occur because the costs ramifications of losing savings cannot be left flapping out in the wind any longer. Here is additional rational for doing so: