The supply chain represents about 25 percent of a healthcare facility's operating budget, and industry trends strongly indicate that this percentage will continue to grow. Thus, supply chain optimization is not an option, it's a must. Here are some solid best practices that can help your facility build a "new" supply chain focused on efficient processes and maximized outcomes.

Analyst Insight: If 2012 was the year of climbing the emerging market mountain, then 2013 was the cliff. Not just for patents, but also in succeeding across multiple global markets. Quality issues, bad business practices, failure to integrate acquisitions, these were all common threads. Reputable players stumbled. Lesson learned: focusing on core business is the key to success. Many smaller non-core acquisitions such as animal health, devices, and OTC products will continue to spin off. Emerging and core markets will focus on profitability and smart growth, not just volume. - Brian Hudock, Partner, Tompkins International