SmartPROCUREMENT solves the complex math of supplier bid analysis and facilitates stakeholder communications. This technology enables the supply chain leader to optimize supplier economics and contracting outcomes by evaluating the “what if” scenarios presented by suppliers and their multiple proposals. There are literally millions of variables at play, including product utilization, volume discounts, differing supplier product mixes, a variety of tiered pricing and contract terms that are sometimes out of supply chain control. With SmartPROCUREMENT the supply chain practitioner can optimize contracting outcomes, providing clients with real-time scenarios based on elements such as physician preferences. Doing away with cumbersome spreadsheets that require days or weeks to update, SmartPROCUREMENT brings all preferences and bid terms into the application, and using its optimization algorithms engine, produces the best economic outcome in seconds.
- Easily imports historical demand and utilization
- Easily facilitates communication of line item bid requirements to vendors without limiting their ability to make complex offers such as rebates and incentives
- Captures multiple types of stakeholder preferences, such as physician preferences or clinical ratings
- Users can quickly build scenarios to rapidly evaluate the impacts of:
- Enabling or disallowing all or selected stakeholder preferences
- Allowing or disallowing price-match guarantees
- Allowing or disallowing product alternatives
- Proposed rebate and incentive economics
Results from all scenarios are available in dashboards so you can quickly and easily compare the impacts of implementing differing strategies.