Improving supply chain reliability to outmaneuver uncertainty
We are continuing to sharpen our focus and evolving the way we support members to reduce the impact of demand surges and supply shortage due to unexpected events. Being resilient requires preparation to quickly respond, apply quantitative performance measures, and recover to stabilize the supply chain operation.
Ensuring supplies and medications are where they are needed, when they are needed has never been simple, even before COVID-19. For many years across many disruptions, Vizient has played an active role to improve supply resilience. We’re also building a long-term solution with a singular goal: to outmaneuver uncertainty.
A significant disruption isn’t needed to prioritize supply chain resilience, but it can help
Vizient has a history of creating value with suppliers and members through networking and best-practice sharing. Based on past experience and recent dynamics, we’ve identified three key strategies to improve supply resilience:
- Expanding domestic capacity and supporting product availability
- Advocating and offering resources for members
- Increase trust, transparency and predictability in the supply chain
Improving supply resilience requires a new approach to increase trust and transparency
Our most recent work to advance this key strategy involves the creation of a multi-party network in partnership with One Network. This technology brings visibility to the availability, consumption and need for supplies.
Supply reliability for pharmaceuticals and essential medications
We have also launched the Novaplus Enhanced Supply Program to directly address supply chain resilience for pharmaceuticals and mitigate shortages of essential medications. The program requires our contracted suppliers to provide additional inventory of medications deemed “essential” to mitigate supply disruptions and demand surge.
Learn more about our supply chain resilience offering