Supply Chain Analytics
Consorta's Supply Chain Analytics program offers Consorta and its
members increased transparency into their supply chain operations in
order to enhance decision making, improve contract compliance, and
maximize the value of the Consorta contract portfolio.
Various industry studies reveal that:
- Over $40B/year sales lost due to supply chain information
inefficiencies
- 35% of all procurement transactions have errors that require
re-work
- 80% of errors directly related to inaccurate product
information
- 40% of the time hospitals pay a different price for the same
product
- And pay 2-7% above the eligible contract price
- 70% of hospital supply spend is unclassified or
misclassified
Consorta's Supply Chain Analytics program assists its members in
addressing these challenges. Members participating in the
program submit their spend data, from single or multiple facilities,
to Consorta where the data is normalized, standardized, and
aggregated; transforming data that is disparate and inconsistent
into actionable information enabling:
- Price Auditing - PO to Invoice,
Invoice to Contract and recovery of overcharges
- Price Leveling - achieving single price-point within and
across a hospital/IDN
- Tier Maximization - ensuring maximum contract value is
achieved based on usage/compliance requirements
- Product Conversion/Standardization - ensuring use of
contract portfolio is maximized
- Portfolio Expansion - expanding contract
coverage/penetration driving additional savings
By rendering spend data in a more usable and actionable state,
Consorta can assist its members in meeting their goals of reducing
supply chain costs.