Victoria Granito’s Post

Effective Procurement Strategies in Healthcare 🏥💼 In healthcare, optimizing procurement processes is vital to ensure timely delivery of high-quality products, minimize costs, and enhance patient care. Here are some key strategies: 1️⃣ Strong Vendor Relationships: Building trust and long-term partnerships with reliable suppliers for better negotiations and consistent quality. 2️⃣ Leverage Technology: Using AI and automation for inventory management and order tracking to reduce human errors and streamline processes. 3️⃣ Focus on Compliance: Ensuring all purchases meet regulatory standards to avoid disruptions and penalties. 4️⃣ Data-Driven Decisions: Analyzing spend data to find cost-saving opportunities and improve purchasing efficiency. 5️⃣ Sustainable Sourcing: Choosing suppliers with eco-friendly practices to align with corporate social responsibility goals. Effective procurement means better care 🌟 #Procurement #Healthcare #SupplyChain #CostEfficiency #Sustainability

As a pharmacist working in procurement and contract management, I’ve come to understand that success in this field requires a careful balance of strategy, foresight, and adaptability. Here’s what I’ve learned along the way: 1. Value Over Cost While cost-efficiency is essential, I’ve realized that focusing on long-term value is far more impactful. Choosing products that align with quality, reliability, and patient care goals ensures better outcomes in the long run. 2. The Power of Relationships Building strong, transparent relationships with suppliers and stakeholders fosters trust and consistency. Collaboration has proven to be key in achieving successful procurement outcomes. 3. Technology is a Game-Changer Leveraging tools like data analytics and automation has transformed decision-making, improved forecasting, and streamlined processes—making procurement more efficient and precise. 4. Adaptability is Crucial The healthcare landscape is constantly changing, and staying informed on trends, regulations, and innovations has been critical to navigating this evolving environment effectively. 5. Patient Outcomes Drive Everything Every procurement decision ultimately impacts patient care. Keeping this in focus has helped me ensure that my work contributes meaningfully to the bigger picture of healthcare delivery. These lessons have shaped my approach to procurement, allowing me to contribute to more efficient systems that support innovation and improve patient outcomes. #PharmacyLeadership #ProcurementInsights #ContractManagement #Healthcare #PatientCare

Weekend bite.. Enhancing Procurement in the Healthcare Sector CURE is an essential need of any patient and proCUREment does exactly the same in Healthcare sector! Efficient procurement is essential in the healthcare sector to ensure both patient safety and operational effectiveness. The Healthcare Supply Chain Association notes that supply chain expenses account for 25-30% of a hospital's overall operating budget, underscoring the need for optimized procurement processes to achieve cost savings and improve service delivery. A key trend is the growing use of technology in healthcare procurement. A recent Gartner survey found that 63% of healthcare organizations intend to invest in supply chain management technologies within the next two years. These technologies including: ➡️advanced analytics, ➡️artificial intelligence, and ➡️automation can: ↪️streamline procurement, ↪️reduce errors, and ↪️enhance decision-making. Moreover, strategic sourcing is increasingly prioritized. By using Group Purchasing Organizations (GPOs), healthcare providers can secure better pricing and terms from suppliers. According to the Association for Health Care Resource & Materials Management, hospitals utilizing GPOs save an average of 10-18% on supply costs. In summary, optimizing procurement in healthcare not only drives cost efficiency but also ensures the timely availability of essential medical supplies, thereby improving patient care and outcomes. Adopting technological advancements and strategic sourcing practices will be crucial for healthcare organizations looking to enhance their procurement processes.

Did you know that project-based and operational procurement plays a crucial role in ensuring access to essential health products globally? PFSCM works towards bridging the gap and provides sustainable solutions for long-term replenishment of items like consumables and reagents used by labs and health facilities daily. By providing such services, PFSCM contributes to strengthening the global health supply chain and ultimately improving access to health products worldwide. Learn more about how project-based and operational procurement services can make a difference. #HealthProducts #IncreasingAccessToHealthcare #HealthSupplyChains https://lnkd.in/efAvzHeC

🌟 Employee Spotlight: Felicia Lam 🌟 Our dedicated Procurement Support Officer Felicia Xue Jing LAM has been a crucial part of PSCM’s success. She initially came on board to support the executive team by managing correspondence, workflow, and providing ad-hoc assistance to executives. Now, Felicia manages the Mandated Statewide Panel for Biomedical Equipment, overseeing contract management for over 125 suppliers. "This project involved coordinating with over 125 suppliers and streamlining the procurement process to enhance efficiency and compliance. By implementing strategic improvements, we significantly reduced procurement timelines, ultimately contributing to better resource allocation within the healthcare system." When reflecting on what she finds most rewarding about her current position, Felicia shares that it is, "the ability to directly contribute to the improvement of healthcare delivery. By ensuring medical equipment procurement is efficient and compliant, I help enable healthcare providers to access the tools they need to deliver high-quality patient care. “ "The complexity and variety of procurement projects keeps the work engaging and challenging, and collaborating with a dedicated team and a wide range of suppliers allows me to continuously develop my skills and knowledge in the field.” For those looking to travel down a similar path, Felicia advises, "Focus on building strong stakeholder management skills and strategic thinking, as it is essential to understand the needs and perspectives of various stakeholders to facilitate effective communication and collaboration.” “Gaining experience in different procurement areas can provide a well-rounded understanding of the field. And through it all, stay adaptable and open to learning, as the procurement landscape is constantly evolving with new challenges and technologies." We look forward to Felicia's continued improvements going forward! #EmployeeSpotlight #SAHealth #Procurement #TeamSuccess

10,000 Followers....thank you, LinkedIn members!!! Thank you for being a vital part of our journey, your support and engagement inspire us to keep sharing valuable insights and updates. “We Build & Execute Complex Clinical Supply Plans” 1. Supply Chain Strategy Development 2. Sourcing & Procurement 3. In-study Management 4. Global Storage, Warehousing & Inventory Management 5. Distribution & Logistics 6. Study Close-out (Returns, Reclamation & Destruction) 7. Decentralised Trials 8. Patient-care Services Contact us today to discuss how Intrinseque Health can create robust clinical supply plans for your clinical development programs. contact@intrinsequehealth.com https://lnkd.in/gPWaDs_n #drugdiscovery #drugdevelopment #studystartup #clinicaltrials #healthcare #clinicalresearch #patientrecruitment #sitemanagement #clinicaldevelopment #clinicaltrial #clinicaloperations #clinicalstudy #clinicalsupply

What makes a hospital’s sourcing function truly exceptional? Here’s the secret sauce: Teamwork Makes the Dream Work: Get clinical teams involved in sourcing decisions. Integrate Biomed, supply chain, finance, and value analysis with other capital committees. Hospitals that engage clinicians in purchasing decisions improve satisfaction rates by 25%. 🏥🤝 Risk Management = Peace of Mind: Diversify suppliers and have backup plans. Organizations with diversified supply chains experience 50% fewer disruptions. 😅 Continuous Learning: Stay curious and keep learning. The healthcare world evolves fast; studies show that ongoing training boosts staff performance by 20%. 📚💡 Innovation Over Tradition: Don’t be afraid to ditch outdated practices. Innovative procurement models have led to cost reductions of 10-35% in pioneering hospitals. 🚀 Celebrate Small Wins: Every cost saved, every efficiency gained, is a victory worth celebrating. Cheers to progress! 🥂 Remember, the secret sauce isn’t a one-size-fits-all recipe. It’s about finding what works best for your organization and making it happen. Let’s make magic happen in healthcare! ✨ #SupplyChain #StrategicSourcing #CapitalEquipment #MedicalDevice

10,000 Followers....thank you, LinkedIn members!!! Thank you for being a vital part of our journey, your support and engagement inspire us to keep sharing valuable insights and updates. “We Build & Execute Complex Clinical Supply Plans” 1. Supply Chain Strategy Development 2. Sourcing & Procurement 3. In-study Management 4. Global Storage, Warehousing & Inventory Management 5. Distribution & Logistics 6. Study Close-out (Returns, Reclamation & Destruction) 7. Decentralised Trials 8. Patient-care Services Contact us today to discuss how Intrinseque Health can create robust clinical supply plans for your clinical development programs. contact@intrinsequehealth.com https://lnkd.in/gPWaDs_n #drugdiscovery #drugdevelopment #studystartup #clinicaltrials #healthcare #clinicalresearch #patientrecruitment #sitemanagement #clinicaldevelopment #clinicaltrial #clinicaloperations #clinicalstudy #clinicalsupply

Excited to share my journey as a supply chain professional in the healthcare industry! 💡 Having worked in healthcare supply chain for over 6 months, I've witnessed firsthand the critical role it plays in ensuring patients receive the care they need when they need it. From managing inventory and logistics to optimizing procurement processes, every aspect of the supply chain directly impacts patient outcomes. Here are a few reasons why working in healthcare supply chain is both challenging and rewarding: 1️⃣ Impacting patient care: By ensuring the availability of medical supplies and equipment, we directly contribute to the quality of care patients receive. 2️⃣ Navigating complexity: Healthcare supply chain is complex, with factors like regulatory compliance, patient safety, and cost containment to consider. Successfully managing these challenges requires adaptability and strategic thinking. 3️⃣ Collaboration across disciplines: Working in healthcare supply chain involves collaboration with clinicians, administrators, vendors, and other stakeholders to ensure seamless operations and optimal outcomes. 4️⃣ Driving innovation: In an industry that's constantly evolving, supply chain professionals have the opportunity to implement innovative solutions and technologies to improve efficiency and patient care. 5️⃣ Making a difference: Whether it's streamlining processes to reduce waste, negotiating contracts to lower costs, or implementing sustainable practices, every effort in healthcare supply chain has the potential to make a meaningful impact. I'm proud to be part of a profession that plays a vital role in supporting healthcare delivery and improving patient outcomes. To my fellow supply chain professionals in healthcare, keep up the amazing work! 💪🌟 #HealthcareSupplyChain #HealthcareIndustry #SupplyChainManagement #PatientCare #Innovation