Big Data Implications
Big data and big data analytics pose a series of implications and challenges. Organizations that seek to become analytical competitors must have an established analytics culture consisting of well trained employees who are using the right enabling technologies. However, these organizations face challenges maintaining consumer privacy while they collect and use sensitive information.
Big Data Analytics
Big data is all around us. As we have seen, big data is characterized by its volume, velocity, and variety (the infamous three 'V's). Great, you have a lot of data...now what? Well, these untapped 'dark data assets' give rise to vast opportunities for those organizations that seek new ways to compete. Studies have shown that organizations that compete on analytics by focusing on their core competencies fare much better than those who do not. Some have gone so far as to call big data the ‘new oil’. In part two of this four part series, we will take a closer look at big data analytics.
Big Data Demystified
With the advent of big data, organizations are beginning to recognize the impact that big data and analytics can have on their ability to compete in their respective industries. In a recent study by MIT and the SAS Institute, 67% of leading organizations firmly believe that analytics give them a competitive advantage. This recognition has revealed that it is not only about the volume, velocity and variety of the data at hand, but having the right culture, skillsets, and technologies in place, while respecting the privacy of consumers. This post will be the first of a four part series aimed at demystifying the term 'big data', and touching on opportunities, implications and challenges related to big data.
The Hierarchy of Healthcare Supply Chain Metrics
In my July post, I introduced the 'Hierarchy of Supply Chain Metrics', which is a framework of supply chain metrics conceived by Gartner, the world's leading information research and advisory company. The model provides 3 tiers of integrated metrics to assess, diagnose, and correct supply chain performance, and is a great example of what constititutes a supply chain scorecard.
Tecsys Analytics with WERC Benchmarks
It has been said that you can't manage what you can't measure. In the world of analytics, this is our daily mantra. However, as succinct as the statement may be, you can't help wondering if it is missing something — a little something called perspective.
The Hierarchy of Supply Chain Metrics
Since 2010, Gartner, the world's leading information technology research and advisory company, has been publishing an annual report entitled 'Gartner Supply Chain Top 25' which ranks organizations that demonstrate leadership in supply chain management. In each of these reports, the 'Hierarchy of Supply Chain Metrics' is positioned as the ideal set of metrics to measure supply chain operational performance. To emphasize Gartner's stance, the subtitle reads: 'The Metrics We Wish We Had'.
“Business As Usual” is not the future of healthcare supply chain!
Isn’t this the most interesting time in US healthcare? Actually, in healthcare across the globe? Because no matter how your healthcare system is funded, the containment and management of supply chain costs is a constant business reality we are all facing. To that end, supply chain is finally coming into its own in the C-Suite of most organizations. We are realizing, as an industry, that what has worked in the past will no longer work in our emerging reality — on all sides of the business equation. Everyone has to participate in the change.
3 Stages of Hospital Supply Chain Management (SCM) Maturity
Having been involved in the development of a pan-Canadian Electronic Health Record, I have a keen interest in how healthcare benefits from standardized policies and technologies designed to reduce healthcare costs and improve patient outcomes and safety through improved synergies and efficiencies. My interest also extends to the hospital supply chain. With inventories representing 30% of hospital costs, second only to labor costs, there are huge gains in organizational performance that can be had through better supply chain management.
Trends Are In the Air
Tecsys-Sponsored a Lunch & Learn program at the recent IDN Summit, “The Transformable Supply Chain” featuring Brent Johnson, Chief Procurement Officer, Intermountain Healthcare; Curtis Dudley, Vice President of Integrated Performance Solutions, Mercy; and Mike Wentling, Chief Solutions Officer, ROi. The discussion focused on the changes in the healthcare supply chain that have driven the development of consolidated service centers/supply chain centers.
Reading to Think: Concepts in Healthcare Supply Chain Management
I would like to share some reading I have been doing that is providing a lot of food for thought. The first source is the book “Healthcare Will Not Reform Itself” by George Halvorson, CEO of Kaiser Permanente. What a compelling read! Mr. Halvorson walks us through many scenarios, while breaking things down to accessible portions.
What the C-Suite Needs to Know about US Healthcare
I recently had the opportunity to hear a presentation by Brandi Greenberg, Managing Director at The Advisory Board and the Healthcare Supplier/Provider Institute in Las Vegas. Brandi presented research findings that are packaged for the C-Suite. I found it very enlightening and wanted to share my notes with you.
Healthcare Self-Distribution: Early Considerations
We recently hosted a web event titled Demystifying Demand Planning: WHY and received an interesting question from one of the participants. The question had a much broader reach than Demand Planning and I thought it would be terrific to share it with all of you.
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