The Healthcare Hub

Business Intelligence to Optimize Supply Chain

Tuesday, June 20, 2017

The underlying things going on in your supply chain, that you just can’t see without looking at the data, are where opportunities exist to move the needle. Everything may look good on the surface — you're automated from procure to invoice and following up on exceptions, have contracts loaded, etc. — but when you look deeper you get a different picture. This is your tuning point, when you move from “Everything is great” to “Uh-oh not so great — we’ve got problems” to “I don’t know where to even begin.”

How do you get the wheels turning? Where do you direct your focus?  

In the Summit20 Talk, Uncovering Your Blind Spots with Business Intelligence, Paul Frank talks about the pitfalls of ignoring data and leading practices for using business intelligence to address supply chain performance. 

Use business intelligence to take your supply chain performance to the next level. Accurate data and trending analytics back up guidance for strategic decision-making.

Four key areas to get started:

Increase order and invoice automation by maximizing your EDI trading partners. Identify your trading partners that are not working electronically with you and take action to change that status.

Drive down exceptions. Use of My Exchange data is your first line of defense for driving down exceptions. The next level is to go after the quality of transactions.

Define and then set goals. Track your progress over time to measure improvements and identify areas where extra effort is required for improvement.

Improve contract compliance rates. Getting your contracts loaded is just the beginning. An analysis of contract price matching will show you where off-contract spend is not in line with your financial goals.

Learn more about GHX’s business intelligence solution for provider organizations.