This session will focus on the success achieved at Intermountain Healthcare through implementing a dedicated price management team to capture value leakage. The price management strategy is a fresh, horizontal approach to consider and negotiate opportunities across total supplier spend, rather than by category or contract alone. Price management uses data to drive open communication, collaboration, accountability and trust with peers and suppliers alike. The session content was geared towards sourcing professionals and leaders, illustrating how the strategy delivers value across five unique service offerings; price negotiations, contract price audits, emergent value opportunities, operational efficiencies and price increases mitigation.
Topics covered in this session included:
- A different approach to capturing value during the contract lifecycle
- How to use price benchmarks to increase supplier collaboration and accountability
- How to find additional sources of value beyond just cost savings
- How a centralized price increase mitigation strategy increases category value
Categories: 2016 Spring - Orlando, Summit Presentations
SRC Type: Benchmarking and Analysis, Procurement Operations, Realization, Sourcing, Strategy