The winners of the Innovations in Supplier Performance Management Award are Florida Blue for a customer of choice project and Microsoft for a supplier management 3.0 project.
With 70 years in the health care industry, Florida Blue created processes to assess, monitor & mitigate supplier risk across a diverse supply chain. Despite these process, we witnessed issues with supplier failure and lack of innovation. Our goal was to revise the supplier relationship process from the ground up, continue to meet regulatory requirements and become a customer of choice. This transformation implemented HUB relationship management, Sourcing Business Models, enhanced due diligence, and supplier lifecycle monitoring. Although our initial desired outcome centered around risk management, we found other improvements. Our average time to complete an initiative was reduced by over 10%. In addition, the scrutiny increased the effectiveness of the team. Hard dollars savings increase 75% from 2016 to 2017 & avoidance/value increased 110%.
Other finalists included: