Cost Sensitivity in Today’s Healthcare Industry
Today we face an environment that is changing dramatically. Hospitals are under increasing cost pressure, and as the healthcare system continues to evolve, external regulators and the public increase their expectations from our industry.
Cost pressures on the industry have an impact on the way Medtronic must operate. As a result, we need our suppliers’ support to ensure mutual growth. Medtronic is working to improve processes, reduce waste, increase productivity and combine the strengths of all business units for overall cost reduction.
We are streamlining processes to help generate resources. These resources in turn lead to growth, which then creates opportunities for more innovation.
As a supplier to Medtronic, you must bring new and innovative ideas to help Medtronic reduce costs, improve processes and grow relationships with customers and patients. Medtronic’s history of innovation and commitment to continuous improvement is the foundation that drives this vision. As a potential or existing supplier to Medtronic, you are expected to join in the efforts to reduce costs for customers and patients.
Medtronic utilizes some of the following tools to support this requirement:
- Global and Business Unit Commodity Management
- Master supply agreements
- Global quality agreements
- Supplier Score Cards
- Global and site specific regularly scheduled business reviews
- Medtronic or selected third-party operating systems and quality auditing programs
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Additional information
Supplier Diversity
Please explore our current Supplier Diversity page for information regarding our efforts to have a diverse supply base
Green Supply Chain
Medtronic Becomes an Applicant Member of the Electronic Industry Citizen Coalition (EICC).
