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PRESS RELEASE - FOR IMMEDIATE RELEASE
Release Date: September 18, 2006
For more information contact:
Tom Hughes at 617-943-0303
SMI Releases Tool For Measuring Effective Relationships
The Strategic Marketplace Initiative (SMI) released a new software tool for Measuring Effective Relationships at the AHRMM 44th Annual Conference and Exhibition in Orlando, Florida. The software tool, written in Microsoft Access®, was distributed to attendees at the conference and is available on the SMI website www.smisupplychain.com
In 2005, an SMI Team representing both providers and suppliers was assembled to identify methods to measure the effectiveness, beyond cost, of business relationships. The Team first organized the factors that impact a trading partner relationship into six categories:
- Financial
- Relationship
- Quality
- Safety
- Service
- Technology
Each category was then further defined into relationship elements to be collaboratively analyzed by trading partners. Over 40 pre-programmed relationship elements are incorporated into the software tool, with user flexibility built-in to expand the number of elements.
The customizable software was developed as a relationship management tool for both trading partners - buyers and sellers - to measure and monitor progress during their business relationship. Together, both trading partners mutually assign weights to the relationship elements deemed most important to them, with the ability to add new elements or disregard pre-programmed elements as needed. Both partners then assign scores to the relationship elements, while also identifying the most critical elements and elements that need attention. The Measuring Effective Relationships software tool will calculate total scores and produce reports that reveal total scores by elements, critical relationship elements, special user-input notes, and categories and elements that require more management attention. In addition, the tool’s reporting package can show a relationship’s progress over multiple measurement periods, with graphic display capabilities.
“This user-friendly tool can prove invaluable for industry supply-chain professionals who want to maximize the value of their business relationships.” said John Gaida, Vice President with Texas Health Resources, and a Co-Leader of the SMI team. Frank Martorella, Vice President with Corporate Express, also a Co-Leader of the SMI Team, explained “I am using this tool with strategic accounts, and it has helped to identify both relationship elements where our partnerships are performing quite well and elements where we need to work together for improvement.”
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About SMI:
The Strategic Marketplace Initiative (SMI) is a not-for-profit organization comprised of senior-level executives representing diverse disciplines from the healthcare supply chain. Membership includes executives from the country’s largest integrated delivery networks (IDNs) and academic medical centers as well as medical device, diagnostic and pharmaceutical manufacturers, distributors and other key suppliers and service companies. SMI members have joined together to educate, drive operational efficiencies, and implement process improvements to the healthcare supply chain.
SMI was formed to provide a venue where collaborative teams could work together to address industry issues and implement best practices, shaping the future of the healthcare supply chain value stream through improved operational efficiencies. Additionally, SMI was formed to act as a change agent for healthcare and to introduce non-healthcare related best practices and technologies to the healthcare supply chain. SMI provides critical mass representing key industry stakeholders and decision makers within the healthcare supply chain, interacting and sharing best practices. Through collaboration, tools and techniques are developed and shared that members are able to take back to their organizations and customize to meet their unique needs. SMI is dedicated to improving the supply chain and to that end- all findings, improvements, processes, and established best practices are shared with the entire healthcare marketplace.
SMI staff include Thomas A. Hughes, Executive Director of SMI. Tom is responsible for the overall operations of the organization, moderation of bi-annual Forums, and oversight of industry initiatives. Teri Gallagher serves as Administrative Director for SMI, responsible for the ongoing operations of the organization including functions relating to membership, financials, coordination of Forums, ongoing communications and office administration. Dennis P. Orthman is Initiative Project Manager for SMI, responsible for the ongoing support and coordination of SMI member-led initiatives, including research, analysis, and coordination of team activities.
Visit SMI’s web site at www.smisupplychain.com for more information.
