The biotechnology and pharmaceutical industries waste huge amounts of time, money and resources, especially in operational areas. Pressure to improve cost effectiveness has spurred some innovation, including such approaches as process mapping and value analysis, also known as cost-out, in manufacturing. However, further opportunities exist to significantly improve companies’ efficiencies by reviewing core competencies and outsourcing select functions.
The hospital market in the United States provides an excellent example of a business setting that is constantly seeking to cut costs and increase productivity without compromising on quality. In this setting, the outsourcing of asset management has become a clear winner. My company, among others, has been working with hospitals for many years to provide asset management programs, supporting activities such as effective maintenance, tracking and locating critical equipment, and analysis of utilization. The current situation in the ...
