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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 1, 2007
Robert T. Yokl
President & Chief Value Strategist
Greetings!
Innovate More…
Leading supply chain professionals move faster, jump higher, optimize their resources better and save more because they innovate more.
Just last week one of my clients, who I consider one of the best supply chain organizations in healthcare, asked me if there is anything else he can do to get better. That’s the attitude of an innovator!
You can be a supply chain innovator too if you plan more, move faster, get optimized and utilize more technology to achieve your strategic goals.
There is no single road to innovation, but to head in the right direction you must always be (like my client) looking for new and better ways to be more innovate.
Your Partner in Supply Chain Savings,
Robert T. Yokl
President & Chief Value Strategist
P.S. If you are looking for new and better ways to innovate more may I suggest that you complete our Supply Savings Scorecard to see where you need to get better – faster!
5 Keys to Finding The Next Big Value Analysis Savings Projects
“Knowing Where To Look For Your Next Value Analysis Project Is The Most Important Step Forward To Actually Making These Savings Happen”
When I talk to supply chain professionals about where their targeting their next value analysis projects, most times they tell me that they will find it somewhere or somehow. But the real answer is they don’t know where their next value analysis projects are coming from and that’s a big problem for them.
If you are looking for gigantic savings to be generated from your supply value analysis program you need to target your best value analysis candidates up front -- not after the fact. If you don’t target your best savings opportunities up front you will frustrate your value analysis team members when they investigate these So-Called savings opportunities only to find “dry holes” where no savings reside. To avoid these embarrassments and missteps here are 5 criteria for identifying gigantic value analysis savings projects:
1. Only Investigate Products, Services and Technologies that have a annual spend of over $25,000
If you are looking at value analysis candidates under $25,000 annual spend you are wasting your time and resources, since the time and effort to find savings in this category of purchase isn’t worth your team member’s time to find them.
2. Look for Products, Services and Technologies that have a High Utilization.
Any product, service or technology that you are purchasing with over 35,000 SKUs a year should be vigorously investigated.
3. Investigate, any and all, of Your Bundled Products That You Are Now Purchasing.
Any product that is bundled (e.g., IV start kits, custom packs, admission kits, etc.) should be evaluated every two years for conformance to requirements.
4. Study all of Your New Technologies and Old Technologies
Old and new technologies that have a supply component need to be assessed every three years for waste and inefficiency.
5. Scrutinize all Disposable Products That You Are Purchasing.
Every disposable product (over $25,000 spend annually) must be considered as a candidate for reprocessing, re-posable or recycling.
Now you have it, “the five ways for you to identify gigantic value analysis projects” there is no need to say that you don’t know where your next value analysis projects are coming from.
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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