Weekly Business Insights 12/27/2023
Chief Procurement Officer Leadership Vision - 4 strategic actions for success. Advancing Healthcare Delivery: DHL White Paper Identifies Trends, Changes, And Solutions In Life Sciences And Healthcare Supply Chains. Unlocking the value of IT in healthcare.
Chief Procurement Officer Leadership Vision - 4 strategic actions for success
Stakeholders now expect a diverse set of value contributions from procurement that go well beyond cost, quality and speed. Staff are experiencing extreme levels of burnout, giving rise to trends like the “great resignation” and “quiet quitting.” The labor market has changed and employee engagement is suffering. The gap between digital winners and losers is widening.
Developing category strategies not just to optimize sourcing, but also to make progress against emerging issues like sustainability, innovation and risk. Narrowing the focus of procurement roles to not only reduce cognitive overload, but also to build expertise in the areas of making transformational investments, further increasing productivity. Establishing employment offering. Strengthening operating models and ensure critical workflows are defended. Leading with empathy. Improve the persuasiveness of the business case for digital technology in procurement.
Advancing Healthcare Delivery: DHL White Paper Identifies Trends, Changes, And Solutions In Life Sciences And Healthcare Supply Chains
"Revolutionary therapies reflect the accelerating pace of medical progress and set the stage for a transformative shift in life sciences and healthcare delivery with patient-centric models, digital technologies, and environmentally conscious practices. This therefore drives the emergence of new business ecosystems," “The future holds a paradigm shift as next-level healthcare necessitates the creation of next-level healthcare supply chains.”
The identified trends are reshaping healthcare delivery across various sectors of life sciences and healthcare industries, including medical devices, consumer healthcare, pharmaceuticals, clinical trials, and governmental and non-governmental organizations. These transformations place new and sometimes varying demands on healthcare supply chains, either by introducing complexity to existing processes or by necessitating the adoption of entirely new supply chain models. This includes ranging from improved visibility and distribution control over segmentation of supply chains and distribution channels to rigorous protection of the shipments and end-to-end real-time condition monitoring – to ensure product integrity.
Unlocking the value of IT in healthcare
The search for cost savings has been a constant, but the need for efficiency has a new urgency in the wake of the COVID-19 pandemic. With the Big Squeeze on resources putting pressure on health systems, cutting IT costs is increasingly seen as a way to redeploy resources to the front lines of care. Less than 20 years ago, only a quarter of U.S. hospitals had a health IT system. Now, healthcare spends $300billion a year on software and software implementation alone, amounting to nearly8% of all U.S. health spending. Between 2016 and 2020, IT costs for the average hospital grew by more than 5%per year. The tightening labor market and the need to implement a range of rapidly maturing technologies will only contribute to this trend. It is no surprise, then, that IT frequently finds itself in the budgetary crosshairs of health system leadership.