Smarter Sourcing

Cash reserves have dropped 28% in just 18 months. Reimbursement delays and denials are skyrocketing at 56%. Maintenance expenses went up by 89.8%. Add $10 billion of resources wasted annually chasing payment delays and denials, it’s clear that health systems are struggling to balance improving care with shrinking margins amid rising costs. At this point, cutting costs seems like the most obvious solution to free up critical funds. But no matter how much you take out of the equation, the savings aren’t sustainable enough if you’re not addressing financial efficiency at the core. In our latest blog, LogicSource Managing Partner, Healthcare and Life Sciences Matthew G. and Managing Partner David Kirshner explore how health systems can navigate these financial pressures by uncovering hidden efficiencies within non-clinical procurement, administrative workflows, and supply chain management processes. Read the full blog at: https://lnkd.in/ezAmq4xb #HealthcareFinance #HealthcareCosts #CostSavings

🎙️ What’s the secret to building a resilient supply chain in a world full of uncertainty? In our latest episode of Smarter Sourcing, John sits down with Brent Rohrs, VP of Global Procurement & Program Management at MEC (Mayville Engineering Company, Inc.), to explore the challenges and opportunities shaping procurement and supply chain management today. Brent shares his journey from automotive to manufacturing and offers actionable insights for navigating a landscape that has evolved exponentially thanks to the pandemic and fast-paced developments in technology. Here’s a quick preview of the topics Brent and John touch on: ✔️How global supply chain disruptions exposed the need for agility and risk management strategies. ✔️Why centralizing procurement operations can unlock supplier collaboration and cost efficiencies. ✔️The importance of cross-functional learning and teamwork in building resilient supply chains. Don’t miss this insightful discussion with Brent! Full episode: https://lnkd.in/gQp4mG2G 🎧 Listen on Apple: https://lnkd.in/gc42GWj7 🎵 Tune in on Spotify: https://lnkd.in/gzdFqaE7 📺 Watch on YouTube: https://lnkd.in/ggTTFQMU ✍️Read our Blog: https://lnkd.in/gQp4mG2G #SmarterSourcing #sourcing #procurement #datadriven #supplychain

What are some key traits in an effective CPO? In a recent episode of the Smarter Sourcing podcast, 7x CFO Bill Courtney, shares the traits he sees as essential for a successful CPO, including how they are able to translate challenges into actionable insights. They should also be prepared to speak up and offer differing opinions if they have them. The ability to simplify complex issues and speak up drives creative problem solving and strengthens the team as a whole. Full episode: https://lnkd.in/d-srVzhN #SmarterSourcing #sourcing #procurement #datadriven #supplychain

How can procurement professionals shift from reactive to proactive in supply chain management? In a recent episode of Smarter Sourcing, Heleen Du Toit, VP of Procurement, Rigid Packaging at PepsiCo, explains how to transform from a reactive to a proactive approach. This framework uses a risk measurement tool to assess supply chain weaknesses. By identifying low-, medium-, and high-risk areas, businesses can implement targeted actions before crises occur, ensuring a more resilient supply chain. Tune in now for more insights from Heleen! Full episode here: https://lnkd.in/gqiX8RcW

How is AI transforming the future of supply chain management? For starters, it can play a significant role in enhancing efficiency and risk mitigation in the supply chain. In our latest episode of Smarter Sourcing, Asmara Agha, Head of Strategic Sourcing at Nitto Avecia, shares her insights with John. Drawing from her extensive experience in the pharmaceutical industry, Asmara discusses how companies can leverage predictive modeling and data analytics to navigate uncertainties and improve decision-making. She emphasizes the importance of adaptability and resilience in today’s fast-paced environment. Tune in to discover how AI can revolutionize the way we manage supply chains! Full episode: https://lnkd.in/guzA2MEc 🎧 Listen on Apple: https://lnkd.in/gnpA9Vd8 🎵 Tune in on Spotify: https://lnkd.in/gsb2R5Uc 📺 Watch on YouTube: https://lnkd.in/gt2cwZZX ✍️Read our Blog: https://lnkd.in/guzA2MEc #SmarterSourcing #sourcing #procurement #datadriven #supplychain

Why is cross-functional experience so invaluable for procurement leaders? Stephen Sharr, Head of Procurement at Footprint, explains that, especially in finance, it shifts the focus from basic cost-saving to enhancing margins and supporting revenue growth. Managing procurement effectively includes overseeing technology, diversity, recruitment, and development to drive function-wide success. Tune in to Smarter Sourcing to learn more! Full episode here: https://lnkd.in/gC3_68Hf #SmarterSourcing #sourcing #procurement #datadriven #supplychain

Great leaders aren’t necessarily the most technically skilled, says Marisa Farabaugh, SVP & Chief Supply Chain Officer at AdventHealth. Instead, they possess grit, adaptability, and the cultural fit needed to guide teams through challenges and drive progress. Seeking leaders with growth potential and resilience ensures long-term success, especially in roles filled with constant obstacles. Tune in to this episode of Smarter Sourcing to learn more! Full episode here: https://lnkd.in/dttrrgia #SmarterSourcing #sourcing #procurement #datadriven #supplychain

Are you ready to transform your career in procurement? Stephen Sharr, Head of Procurement at Footprint, joins John on the latest episode of Smarter Sourcing. Stephen shares his journey from the corporate giants like Anheuser-Busch to the dynamic world of a startup. Stephen discusses the importance of understanding financials in procurement and how a strategic mindset can elevate your role. He emphasizes that today’s procurement professionals are not just order-takers; they are key players in driving top- and bottom-line growth. Tune in to discover how to leverage your skills for greater impact in your career! Full episode: https://lnkd.in/gC3_68Hf 🎧 Listen on Apple: https://lnkd.in/gWhCCPP7 🎵 Tune in on Spotify: https://lnkd.in/gv99ngQn 📺 Watch on YouTube: https://lnkd.in/gyWN49uU ✍️Read our Blog: https://lnkd.in/gC3_68Hf #SmarterSourcing #sourcing #procurement #datadriven #supplychain

🏥 How can healthcare organizations turn supplier diversity from a goal into measurable impact for their communities? In a recent episode of Smarter Sourcing, Carlos A. Maceda, Chief Supply Chain Officer at Mount Sinai Health System, highlights how supplier diversity isn't just a goal — it's a responsibility. By mentoring and working with diverse vendors, healthcare organizations can maintain quality, control costs, and foster inclusive economic growth. Listen now for more of Carlos’ expansive insight! Full episode here: https://lnkd.in/dNPyzEMU #SmarterSourcing #sourcing #procurement #datadriven #supplychain

What’s the key to building a resilient healthcare supply chain that stands up to crises and promotes sustainability? In our latest episode of Smarter Sourcing, we sit down with Marisa Farabaugh, SVP & Chief Supply Chain Officer at AdventHealth to explore this question and much more. Marisa shares insights on navigating the complexities of supply chain management in healthcare, especially during unprecedented times like the pandemic or severe weather events such as hurricanes. Here are three key takeaways:   ✅ Effective strategies for hiring leaders who align with company culture and show potential to drive growth and innovation in supply chain operations. ✅ Adapting supply chain strategies to ensure essential supplies during the COVID-19 crisis also served as a learning experience and shaped current practices even five years later.   ✅Committing to a reduced carbon footprint and environmental sustainability demands innovation but brings meaningful rewards. Tune in now for more of Marisa’s extensive insights! Full episode: https://lnkd.in/gq_TqAGW 🎧 Listen on Apple: https://lnkd.in/gzG95yPb 🎵 Tune in on Spotify: https://lnkd.in/gZVgmpyB 📺 Watch on YouTube: https://lnkd.in/gq_TqAGW #SmarterSourcing #sourcing #procurement #datadriven #supplychain