Score One for Score Cards

March 25, 2011 at 6:02 pm Leave a comment

Indiana University Health System (previously Clarian Health) recently leveraged the notes in the vendor score card feature of Vendormate VISION to save $150,000.

It’s difficult in any organization to keep everyone fully versed on the latest conversations and best practices. IUH’s materials management organization has been using the “notes” field in Vendormate VISION to store comments about conversations with vendors. This gives each staff member insight into what others have discussed.

Those notes came in handy recently when IUH was in the process of returning $1 million worth of product to a vendor.

The supplier initially tried to charge a standard 15% re-stocking fee on the return. One IUH staff member had noted in the Vendormate VISION score card that another supplier had waived the re-stocking fee, so they asked this supplier to do the same.  IUH was able to combine this comment with other aspects of their relationship to negotiate away a very hefty $150,000 re-stocking.

Hospital vendor credentialing programs are about mitigating risk. Risk comes in many forms – including unnecessary financial expenses. A well-designed vendor credentialing program is as much (or more) about vendor information management as it is about credentialing individual reps.

Entry filed under: materials management, vendor management. Tags: , .

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