Contract price misalignment is among the leading causes of pricing issues in the healthcare supply chain. Price discrepancies are costing healthcare providers more than $92m annually.
Too many companies are still plagued by a "siloed" mentality which keeps various functions from collaborating fully on demand planning. But Arnold Mark Wells, principal of End-to-End Analytics, sees reason for hope.
The maker of sophisticated medical equipment had reached a "plateau" in its efforts to boost customer service and optimize costly inventory within its global operation. Then it found a way to climb higher.
The enterprise wants procurement to enable global growth scenarios in 2012 while also continuing to protect supply and lower input costs, according to research conducted for The Hackett Group's annual Key Issues Study.
Earlier in the month, Congress and President Obama reauthorized legislation surrounding the Export-Import Bank, ultimately extending its lending authority for another two years and increasing its credit limits.
Have you ever bought something where price wasn't the deciding factor? A cup of coffee because it tastes better, perhaps? Or maybe a pricier mechanic's services because you trust him? Purchasing decisions in our lives aren't black and white, and they shouldn't be in corporate purchasing departments either.
Spend analytic projects are often driven to meet key goals of the chief procurement officer and procurement organization, chiefly cost savings. However, there are also many different possible uses or goals for spend analytic tools and projects, which might be driven by other executives or offices as well.