Weekly Business Insights 11/19/2024

Future of Healthcare Supply Chains: An In-Depth Analysis

As healthcare systems seek to build resilience, industry leaders are looking to technology as the primary source of innovation. This in-depth analysis of current challenges and future trends explores the role of AI, value-based care, DEI and sustainability in the future of healthcare supply chains. The healthcare industry supply chain system flows behind the scenes in most health systems. It’s not until there is a disruption to that flow that healthcare supply chain comes front and centre.

The risks are high: When clinicians do not have the critical medical/surgical supplies they need to deliver patient care--because of a shortage, stockout or missing inventory--it can disrupt or delay treatment .Looking to research on healthcare industry trends : in a survey of 400 nurses, physicians, service line leaders and supply chain administrators, more than half (57%) of respondents could recall a time when a physician didn't have the product required for a patient's procedure. On top of the clinical impacts, the costs of the healthcare industry supply chain are staggering – and growing.

The evolution of the healthcare supply chain over the past 20 years has been substantial, driven by technological advances, regulatory changes, and shifts in healthcare practices. The pace of advancement grows even more rapid in the face of cost and quality pressures resulting in a more complex, technology-driven, and globally interconnected system. This evolution has brought about efficiency improvements and cost savings, but also new challenges and vulnerabilities.

Future of Healthcare Supply Chains: An In-Depth Analysis | GHX

Global Healthcare Procurement Trends: A Comprehensive Overview

There have been significant changes in the world healthcare industry due to technology, economic difficulties, and the increasing focus on sustainability. The global healthcare technology management market is projected to grow to USD 20.78 billion by 2032, with an expected compound annual growth rate (CAGR) of 12.5% over the forecast period from 2022 to 2032. There are also advantages to using AI in healthcare procurement because it can help improve decision-making and operational efficiency in healthcare organisations, minimising costs and thus reducing the cost of procurements by up to 15-20%.  Nowadays, firms are working towards making their procurement departments more efficient by reducing wastage, bargaining for better contract terms, and using economies of scale to reduce expenses while running the business sustainably.

The sustainable healthcare procurement scenario is changing fast due to long-term sustainability, technological changes, and reliance on data analytics when making decisions. The industry must change with these shifts; hence, players must be well-informed on short notice. By incorporating such concepts into procurement processes, effective healthcare procurement solutions provision can be streamlined, making it more efficient and less costly. Leading organisations need a proper comprehension of these things to manoeuvre through the obstacles of global healthcare markets with relative ease and achieve their goals in the long run.

Global Healthcare Procurement Trends Overview | HCI

Emerging Procurement Trends: Strategies for Transformative Success

Enhanced supplier collaboration is increasingly becoming a cornerstone of procurement strategy. Rather than simply managing suppliers, companies are building deeper, more collaborative partnerships aimed at driving innovation and reducing risk. By working closely with key suppliers, organizations can co-create solutions, improve product development, and share data to enhance supply chain efficiency. This trend also extends to strategic sourcing, where procurement teams leverage long-term supplier relationships to negotiate better deals and ensure supply continuity during periods of disruption.

The widespread adoption of procurement technology platforms. These platforms are transforming the way procurement departments operate by automating workflows, increasing transparency, and improving data accessibility. Cloud-based procurement platforms enable organizations to centralize supplier data, streamline approvals, and manage contracts more efficiently. With procurement software, teams can track key metrics in real-time, monitor supplier performance, and reduce manual intervention, leading to greater operational efficiency.

7 Emerging Procurement Trends for 2025: Strategies for Transformative Success