Did you know that one is the worst number in hospital supply chain management? This is because one of anything limits you on options, insights, and alternatives for any decision you need to make. Here are some examples of how having only one of anything in your supply chain business can be counterproductive:
- One Quote: If you only have one quote, then you have only had one reference point to evaluate the breadth, depth, or alternatives available to you to improve the cost, quality, safety, etc., of your healthcare organization’s operations. That’s why you should always ask for a minimum of three quotes for any proposal you are contemplating.
- One Benchmark: We always recommend that you triangulate with peer, historical, and internal benchmarks as opposed to having just one benchmark to rely on. This then will enable you to: (1) determine whether your benchmarks are correct, (2) convince your customers that your benchmarks are on target, and (3) give you confidence that your numbers are bullet proof.
- One Value Analysis Alternative: We always say, “Don’t stop at your first best alternative” when you identify savings in value analysis because your chances are better than 50/50 that there are lower cost alternatives that you have overlooked if you don’t search for at least two more value analysis alternatives.
As you can see with these examples, the number one can be very hazardous to your healthcare organization’s financial health if you don’t look for more than one option, insight, or alternative for every supply chain decision that you must make. Remember, to have only one of anything in your supply chain business is to shortchange yourself and your healthcare organization of better choices than you thought possible.
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