Smarter Sourcing

EP 21 - BSMA’s Randy Bradley on Transforming Supply Chains into Strategic Assets

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"If your supply chain only reduces costs, it's not a strategic asset — it's a commodity," Randy Bradley, PhD & EVP of Digital Transformation in Life Sciences at BSMA, tells John in this episode of Smarter Sourcing. When 80% of executives claim their supply chain is strategic but expect it only to cut costs, Randy helps expose the disconnect that keeps procurement leaders trapped in operational thinking. 

 

Drawing from 25+ years bridging technology and supply chain, he explains why healthcare organizations relegate their supply chains to "the basement next to the morgue" and provides a roadmap for elevating procurement's role through liquid data assets and a critical mindset shift from resilience to agility. 

 

For procurement professionals tired of being cost-cutters instead of value-creators, Randy's frameworks for translating operational metrics into C-suite language will transform how you position your function's strategic impact.

 

Topics discussed:

  • How to distinguish between commoditized and strategic supply chains by examining whether they contribute to top-line revenue generation rather than just cost reduction.
  • Translating operational metrics into C-suite language and how to convert supply chain KPIs like inventory turns into financial metrics that executives care about.
  • Why healthcare's operational excellence mindset and failure to reconcile competing global supply dynamics has prevented innovation and strategic elevation.
  • The "resilience vs. agility" framework for supply chain strategy and why organizations should strive for agility (emerging with new capabilities) rather than mere resilience (weathering challenges) when facing disruptions.
  • A three-part methodology for developing data that can be easily recombined, monetized, and shared through engaged data democracies that break down departmental barriers.
  • Why focusing on using AI to eliminate distractions rather than replace jobs allows organizations to unlock human intellectual potential and avoid the resistance that causes organizations to fall behind.
  • Embedding risk management as core business practice and how to shift from reactive disruption response to proactive capability building that prevents supply chain disruptions from causing business interruptions.
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