Colleges and Universities continue to face financial challenges for various reasons. Traditional methods for running an institution are changing to look more like a business strategy. As CFO’s search for solutions, changes are needed that in the past would have seemed unconventional.
Below is an article from insidehighered.com that discusses the reality of the financial climate in most higher education institutions. Many are at a tipping point, deciding whether to grow or cut. After reading the article, give us a call at SpendBridge so we can help guide you to successful results.
Source: insidehighered.com | Re-Post SpendBridge 9/20/2017
The reality of higher education’s financial challenges is sinking in among college and university business officers.
Now the question is what they’re doing about it — and whether they’re willing to do enough.
Chief business officers increasingly agree that higher education is in the midst of a financial crisis, according to the 2017 Inside Higher Ed Survey of College and University Business Officers. Some are also starting to lose faith in the idea that they can overcome revenue shortfalls using the often-cited strategy of increasing enrollment. (more…)
Having a strong leader is a key component to being successful in most industries. Supply Chain Management is no exception. Strong leaders must have the ability to make predictions and quick decisions. Predicting and reacting create opportunities that would otherwise be missed.
Check out the article below from beckershospitalreview.com that gives details on the qualities needed to be a leader in the supply chain management industry. After reading the article, give us a call at SpendBridge so we can discuss ways for your business to identify strong leaders to help your business grow.
Source: beckershospitalreview.com | Re-Post SpendBridge 9/19/2017
You have adopted an innovative mindset and are thinking outside of the box about supply chain management– what’s next? Execute.
Continuous improvements and innovation are essential for hospitals to survive in today’s healthcare industry, but they will not become long-lasting without the right leadership. Hospitals need strong, consistent leaders across all departments to ensure those improvements and innovations become a part of the mold. Leaders need to serve as playmakers; they must think boldly and expansively about the problems facing hospitals. Although these individuals may be hard to find, they are an essential component for effective supply chain management. They create momentum and inspire confidence. (more…)
In a climate of decreasing enrollment at Universities and Community Colleges, Administrators are searching for ways to draw students onto their campus. Some are providing a bigger variety of degrees and some are adding amenities that are appealing to students.
Below is an article from insidehighered.com that provides details as to some of the approaches being used in the higher education industry to encourage students to attend their institution. After you read the article, give us a call at SpendBridge so we can help you navigate enrollment changes within Higher Education.
Source: insidehighered.com | Re-Post SpendBridge 9/19/2017
Six in 10 leaders of community colleges say their enrollments have declined in the past three years, including 21 percent who say enrollment is down by 10 percent or more, according to Inside Higher Ed’s 2017 Survey of Community College Presidents.
The survey, conducted by Gallup, is based on responses from 236 leaders of two-year colleges, who were queried about recruitment, the future of free community college and the emerging talent pool for new presidents, among other topics. (more…)
As the cost of attending college increases, students are continually looking for ways to save money. One area being scrutinized is the required meal plans. Statistics show that the average higher education institution is charging about $18.75 per day, for a three-meal-a-day dining contract, compared to the less than $11 a day a single person spends for food according to the Bureau of Labor Statistics.
Below is an article from hechingerreport.org that details some of the reasons these meal plans and other ancillary costs are so high and the motivation that behind those charges. After reviewing the article, give us a call at SpendBridge so we can assist you with your needs to contain costs for your students.
Source: hechingerreport.org | Re-Post SpendBridge 9/1/2017
Students are having to fork over far more than what average Americans pay to eat.
The main dining hall at Wellesley College is in the $65 million, 12-year-old Lulu Chow Wang Campus Center — students call it Lulu — overlooking Lake Waban. (more…)
Due to low reimbursement rates, healthcare facilities are being forced to make a shift in their operations as well as their culture when working with various suppliers to manage costs. Operational changes create a streamline process and increase efficiency using supplies that are flexible which will, in turn, reduce costs.
Check out the article below from supplychainquarterly.com that describes the challenges that the medical profession faces when seeking opportunities to reduce costs without diminishing the quality of patient care. After reading the article, give us a call at SpendBridge to discuss the best ways your healthcare facility can manage costs without sacrificing the level of patient care.
Source: supplychainquarterly.com | Re-Post SpendBridge 09/01/2017
Faced with unrelenting pressure to rein in costs, medical-device manufacturers should look to their supply chains for savings.
Health-care providers face extraordinary cost pressures today, due in large part to declining reimbursements for services. As a result, they are seeking opportunities to reduce costs without diminishing the quality of patient care. Medical devices are prime targets for these cost-cutting measures, and health-care providers are asking manufacturers for significant price reductions. What can manufacturers do to meet those demands? (more…)
Creating an environment where college students can be successful is a challenge. Students come from a variety of backgrounds so a “one size fits all” mentality does not work. Higher Education Institutes are finding that as they analyze the data they gather, they are able to make the college experience more personal and customized to the student’s needs.
Below is an article from nytimes.com that gives an example of how the personal touch with students is crucial to their graduation rate. After reading the article, give us a call at SpendBridge and we can meet with you to provide advice on how best to meet your student’s needs all the way to graduation.
Source: nytimes.com | Re-Post SpendBridge 8/21/2017
Administrators at the University of Kansas knew they had a problem: Many of their most vulnerable students — largely low income and often the first in their families to go to college — were not graduating. The administrators needed to figure out why students like this were struggling. So they did something that those in higher education rarely do: They looked to a competitor for help. (more…)
As budgets tighten, healthcare facilities are finding it crucial to their bottom line to manage their supply chain. Many times, this requires negotiations with the doctors and staff to select the best product that is the most effective and also meets the needs of the patients. Gathering the correct data to make these decisions is key to their success.
Below is an article from scm.ncsu.edu that focuses on the importance of data integrity and the importance of managing your hospital’s supply-chain data. After reviewing the article, give us a call at SpendBridge so we can provide counsel on how best to use your supply chain data.
Source: scm.ncsu.edu | Re-Post SpendBridge 8/21/2017
A recent visit to a mid-sized hospital in the Northeast United States provided a number of important insights into how is great a problem material handling data integrity is in the daily life of those people who work in operating rooms across the country. The nurses, buyers, surgical techs, operating room specialists, and physicians who work on the frontlines of hospitals, are having to deal with massive forces of friction that are reducing their ability to provide top tier patient care. The scenario described in this case study is being repeated in 95% of hospitals across the country. The operating room (OR) is also the primary source of revenue for hospitals, as 80% of all revenues taken in occur through OR activities. These facts alone provide ample evidence of the need for massive change in the way that hospitals manage their supply-chain data. (more…)
Due to rise in healthcare costs, there is a need to monitor operations. This allows managers to predict demand, cut costs and improve efficiency. Changes in every aspect of healthcare are required to ultimately drive down costs for the services provided.
Below is an article from cips.org that describes the current climate for healthcare operations and some of the challenges that are being solved with supply chain management expertise. After reading the article, give us a call at SpendBridge so we can guide you through the intricacies of making improvements in your facility to meet the demands you are facing.
Source: cips.org | Re-Post SpendBridge 8/9/2017
Advanced supply chains could be the key to helping life sciences and healthcare meet increasing demand for services cost effectively, according to a report.
DHL’s The Future of Life Sciences and Healthcare Logistics argues that the sector urgently needs to change its supply chains in response to technological innovations and evolving patient needs. (more…)
As a parent with a student at a large public university (50,000 students) and a small private university (3,500 students), I see dramatic differences between the two schools in their abilities to attract a diverse group of corporations to participate in on-campus career events and student access to other career resources. Are higher education institutions ready to guarantee students will get a job in her field? Are they willing to pay student’s federal loans or give free graduate classes until they do like the college profiled in the article below? If you’re willing to share, I would be interested in learning what your institution is doing in response to this challenge. I’ll happily share back the learnings if you’re interested, as well.
Source: hechingerreport.org | Re-Post SpendBridge 8/9/2017
Megan Ruby may still be in only her first year at Thomas College, majoring in business management, but she’s further along toward a career than many seniors who are graduating this spring from other campuses.
Ruby has already repeatedly met with career counselors, learned how to polish her resume, and used some of her newly acquired professional development skills when she interviewed in person for a summer job at a bank. (more…)
There are many factors that are impacting the enrollment levels in Colleges and Universities. One factor is the decrease in the birth rate as well as the improving economy that is drawing people back into the workforce. Check out this article below from hechingerreport.org that provides some creative ways institutions are adjusting and give us a call to help you manage changes in your enrollment.
Source: hechingerreport.org | Re-post July 19, 2017
Behind the deceptive quiet of a small college campus in the summer, things are buzzing at Ohio Wesleyan University.
Faculty at the 175-year-old liberal-arts school, which has about 1,700 undergraduates, are preparing new majors in high-demand fields including data analytics and computational neuroscience. Admissions officers are back from scouting out prospective students in China, India and Pakistan. (more…)