Supply chain technology can help healthcare executives ease concerns

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Changes in the the global healthcare industry are causing top decision-makers to invest in supply chain management solutions. According to the sixth annual UPS "Pain in the (Supply) Chain" healthcare survey, 84 percent of the 441 healthcare executives from the U.S. and Canada, Western Europe, Asia and Latin America who participated in the survey said they plan to purchase new technologies, while 59 percent will look into innovations from third parties.

Technological investments will protect high-end products
As products in the healthcare realm get more sophisticated, executives will want to ensure that their items don't spoil or become ruined in transit. Because of this, vast investment increases are expected in e-pedigree/serialization, temperature-sensitive and product security solutions. In fact, 53 percent of respondents stated product security is a top issue, while regulatory compliance is still the No. 1 worry on the minds of healthcare decision-makers. Bill Hook, vice president of global strategy at UPS Healthcare Logistics, said keeping items safe is just one of the supply chain concerns that, if tackled correctly, can help an organization grow.

"As the industry shifts to meet new customer and market demands, executives are investing in transformative supply chain strategies and strategic partnerships that will help them achieve long-term business goals," Hook said.

Innovations can decrease concerns among healthcare executives
While 63 percent of respondents believe regulatory compliance to be the challenge that is making their supply chain more difficult to manage, IT innovations could be one way that top decision-makers can lessen their worries when it comes to the strength of their supply chains. According to a recent article for Healthcare IT News, driving down healthcare costs can streamline processes at organizations, making it easier to adjust to any disruptions that may occur along the way. 

Teran Andes, executive director of exchange services for GHX, told the news source that analytics give supply chain executives the opportunity to get an accurate view of the costs that are affecting supply chains. Getting a deeper understanding of how money is being spent can help healthcare leaders devise better ways to optimize their spending and get the most out of their IT budgets.

"We're better able to get at the right intersection between cost, quality and outcomes," Andes told the news source.