SMI Releases New Industry Resource to Improve Supply Chain Transactional Efficiencies

Scituate, MA (March 19, 2015):    The Strategic Marketplace Initiative (SMI^®) today released a new resource for the healthcare supply chain industry called the “Transactional Efficiency Package” designed to assist trading partners in improving efficiencies in their transactional operations. This multi tool resource contains three separate tools:  (1) Perfect Order; (2) Perfect Department Index (PDI); (3) the brand new Supply Chain Optimization, all available, at no-charge on the SMI website:   www.smisupplychain.com.   These tools are all designed to correct the root causes that lead to pricing inaccuracies, invoice inaccuracies, and incorrect product identification.  

The three tools in the Transactional Efficiency Package were developed by teams of SMI members, all thought-leader executives in the healthcare supply chain industry.  These teams recognized that many supply chain trading partners struggle to reconcile the millions of transactions that happen each week from purchase orders, deliveries, receipts, invoices and payments, leading to inefficiencies and higher costs.   These teams worked to develop three unique resources that support the improvement of transactional efficiency while identifying and quantifying inefficiencies. 

SMI member and team leader Phil Pettigrew, Director of Materials Management at Denver Health said, “Each of these three tools provide detailed information, process roadmaps and templates to help trading partners collaborate to reduce process errors.  It was our goal to provide the industry with ways to improve transactional efficiencies throughout the entire process from procurement to pay.”

SMI members first developed the groundbreaking Perfect Order concept, and followed that by creating additional resources that now form SMI’s new transactional efficiency package.  SMI Senior Director Dennis Orthman said, “We have packaged these collaborative tools together to help industry professionals find the appropriate transactional improvement resource. Improving the accuracy and efficiencies of transactions allows trading partners to focus on more strategic supply chain management challenges.” 

This Transactional Efficiency Package is available for download, at no cost on the SMI website at: http://www.smisupplychain.com/.  This resource, along with 25 other downloadable tools and solutions are available on the SMI website, and are designed to help industry professionals address real supply chain issues and challenges.