Speaking of Supply Chain...SP

SMI Approves New Strategic Plan
By Jim Francis, Mayo Clinic

At the recent Fall Forum the Strategic Marketplace Initiative (SMI) Board of Directors approved a new, five (5) year Strategic Plan. The endorsement culminated a process that began nearly a year ago when the Board decided to embark on the development of a new plan. Given that SMI is a member-governed and driven association of both providers and industry members it was imperative the process involved their active input and participation. A special thanks to the SMI Board, staff and members for their involvement in the development of the plan.

The process began with a thorough understanding of the scope of the project, timeline and tasks to be completed. A review of SMI’s history, previous strategic plans, and efforts completed to various challenges since its formation in 2004 was undertaken. Multiple assignments involving the SMI staff were established. A review of market trends and various forces of change in the environment were noted. A comprehensive voice of the member survey was drafted and launched in March 2019. Nearly 100 surveys were completed and returned for evaluation demonstrating the interest members showed in providing input into the new plan. Input from the survey and review of all work completed by SMI staff was summarized into key challenges facing SMI.

At the Spring Forum in May 2019, the Board of Directors traveled in advance to Charlotte to participate in a full day planning session. From this session all feedback was organized into major themes. This information was then placed into a new, draft strategic framework with a Vision, Mission, and Goals. A tactical plan was also drafted with an associated five (5) year timeline and various objectives/tactics to be pursued.

After validation with the Board leadership and SMI staff, the full Board reviewed the draft plan for the first time in July 2019. Further feedback was received from the Board in the summer months leading to the eventual approval and endorsement of the plan at the Fall Forum.

Since its founding, SMI has been guided by a series of founding or operating principles. The Board endorsed and re-emphasized the importance of these principles for all members. The Founding Principles are:

SMI is a Member-governed and driven, 501 c (6), not-for-profit association supported by a professional staff and focused on the improvement of healthcare supply chain management.
Members will consist of the senior supply chain executive from healthcare providers and executive leaders of industry partners focused on mutual problems with a goal of achieving a balanced approach to improvement.
Through Forums and Initiatives, SMI seeks to improve or address problems associated with the supply chain through education, teamwork, collaboration, networking, and learning.
Members recognize the value received from SMI is significantly dependent upon their participation, commitment to improvement, openness, mutual respect of others and the building of a trusting relationship.
Members agree to hold each other accountable and deliver on commitments made to each other to improve the healthcare supply chain.
Members adhere to strict antitrust meeting guidelines and follow a no selling/marketing prohibition during the Forums. Participation is voluntary.
Members support speaking to the industry as a collective, with one voice and aligned on suggested improvements that SMI has undertaken.
Members recognize that SMI must operate a financially viable and sustainable organization, including an appropriate reserve for future investments or needs.
SMI may seek assistance from other industry or supply chain participants (e.g., collaborators) for support or subject matter expertise.
Output from SMI Forums and initiatives (e.g., tools, etc.) will be made available through the SMI website.
Members agree to adhere to SMI Meeting Policy.

At the heart of any organization is its Mission. The Mission should reflect why an organization exists or its purpose. SMI’s Mission has focused on several key attributes that have remained steady since its founding. The new Mission statement approved by the SMI Board re-enforced these fundamental characteristics of why SMI exists.

To advance supply chain performance by uniting thought leader executives from providers and industry focused on education, leading practice sharing, and transformative improvements.

A Vision statement should state an organization’s aspirational hopes or dreams. Membership in SMI, participation in initiatives, and attendance at Forums is a primary focus for the Board of Directors. The Board wants SMI Forums to be your “must attend” industry meetings. The new Vision statement approved is:

To be the pre-eminent venue for supply chain innovation leading to higher value healthcare.

In addition to the new Vision and Mission statements, the Board approved six (6) major themes or goal areas that will become the focus of the strategic plan over the next five years. These goal areas have approximately 5-7 tactics associated with each one for implementation over the next several years. As with any strategic plan it is a living, breathing document that will require periodic updating and adjustments as performance and market conditions dictate. The following visual depicts the new Strategic Framework for SMI, including the Vision, Mission and Goal Areas.

SMI Strategic Plan

The Board and staff of SMI thank you again for your contributions to the new Strategic Plan and invite your continuing dialogue and questions. They look forward to providing the SMI membership progress reports and continuing updates on the plan. There are many exciting and innovative efforts underway they look forward to sharing with you in the months ahead.

As always, we welcome your comments and suggestions.