Podcast 55 - Three Key Areas for Dramatically Lowering Your Supply Chain Expenses

“The pace of decline of profitability margins is slower than it has been in past years, but they are still down. Median operating margins reached 1.7% in 2018, down from 1.8% in 2017. A more sustainable operating margin would be around 2.5%,” said Christopher Kerns, executive director at the Advisory Board. That’s why it is mission critical for supply chain professionals to dramatically lower their supply chain expenses to boost their hospital, system, or IDN’s margins. There are few other options left for healthcare organizations to do so. With this said, here are three keys to dramatically lower your supply chain expenses in 2020 beyond just price and standardization: