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Did You Know...?
That Value Analysis Was Developed Back In the 1940's After World War II as a Way to Find Lower Cost but Higher Quality Alternative products and methods. This was Due to the Lack of Material Resources At The End of The War.
Savings Beyond Price -Weekly E-Zine- February 7, 2007
Robert T. Yokl
President & Chief Value Strategist
Greetings!
Perception Versus Reality!
One of the interesting things I find in my work is measuring how well or not so well healthcare organizations are doing saving money. This is because when I ask my clients how they are doing saving money their perception is one thing, but the reality after we measure how they are doing is often another thing.
For example, a client I just talked to felt that there was no savings left in their orthopedic implants when our measurement showed that there was still $222,936 to be saved in this expense category. If we didn’t demonstrate this indisputable fact to them they would have completely ignored or dismissed this big savings opportunity.
You too have hundreds of thousands or even millions of dollars to be saved in your own supply chain if you start believing in the power of measurement and leave your perceptions -- on hold.
Your Partner in Supply Chain Savings,
Robert T. Yokl
President & Chief Value Strategist
P.S. Isn’t it time you have a “reality check” to see where your hidden supply savings reside with our reality-based Supply Savings Scorecard. You have everything to save and nothing to lose by doing so!
3 Reasons Why You Need To Measure To Effectively Manage Your Supply Chain Expenses
“Measurement Is The Art And Science Of Knowing Precisely Where You Stand vs. Speculating How You Are Doing”
If you are a carpenter you always measure twice and cut once, because measuring removes the guess work, mistakes and eliminates inaccuracies from your carpentry jobs. It’s the same with effectively managing your supply chain expense. If you habitually measure where your supply chain savings reside you too can take the guess work, mistakes and inaccuracies out of your job. Here are 3 more good reasons why it makes good sense to do so:
- Gives You A Target
Hospitals or systems purchase 16,000 to 74,000 or more products, services and technologies annually. Doesn’t it make more sense to measure where your savings reside versus hunting, pecking and guessing where your next savings are coming from?
- Eliminates Dead-Ends
I can’t tell you how many hospitals and systems I have seen that waste their valuable department heads’ and managers’ time investigating savings opportunities that are either too minuscule to be meaningful or turn out to be dead-ends. Isn’t it a better investment in your time to only investigate savings opportunities that are super-sized and that will give you a huge ROI?
- Keeps You On Track
If you measure, then quantify your best savings opportunities you will subsequently have a yardstick to keep you on track to make those savings happen. This is especially true when a project manager tells you that they can’t find savings you have targeted. Targeting your savings then enables you to audit this project to determine if they are right. Or else, how would you know if your project manager did the hard work to find the savings or just have given up at the first sign of resistance?
Supply chain management today is more than just planning, organizing and control. It’s about effectively measuring to insure that you are focusing your limited resources on the right things, with the right people and with the right processes. To do otherwise is to squander your precious time and too little resources!
Highly Recommended…
If you would like to know ALL of the powerful strategies, tactics and techniques of supply chain project management (not just three), I suggest that you buy my Strategic Value Analysis® E-Book to learn how SVAH’s award winning Team-Based Project Management™ Model can revolutionize how you manage your cost and quality projects.
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