In a recent Becker's Healthcare Hospital Review article, John Dockins, Executive Director of Sourcing & Vendor Management for the Cleveland Clinic, shared a new initiative the organization is launching with LogicSource. The initiative is designed to help other health systems free up resources for better patient care and access by optimizing non-clinical procurement. With over two decades of Cleveland Clinic’s sourcing experience, combined with LogicSource’s 15-year expertise in managing non-clinical expenditures, this collaboration will provide timely relief for an industry in financial distress. These efforts leverage procurement best practices and benchmarks from industries outside of healthcare to uncover savings that can rein in over-extended hospital budgets. Discover more of John’s insights in the full Becker’s article here: https://lnkd.in/gwJkyrCv To learn more about Cleveland Clinic and LogicSource’s collaboration, read on: https://lnkd.in/guNs6qGQ #NonclinicalProcurement #HealthcareSupplyChain #HealthcareSupplyCosts #CostSavings
LogicSource, Inc.
Business Consulting and Services
Westport, CT 16,319 followers
We see profit all around you. The question is, do you want to go get it?
About us
An innovative leader in procurement services and technology, LogicSource is purpose-built to drive profit improvement through better buying. LogicSource focuses exclusively on the sourcing and procurement of indirect goods and services, which typically represents 20% of an organization's revenue and the area of greatest spending inefficiency. This includes complex categories that organizations typically don’t have the capacity, scale, and expertise for best-in-class buying, including Marketing, Packaging, Store Development & Facilities, Information Technology, Distribution & Logistics, Corporate Services and more. Unique to the industry, LogicSource invests upfront – using its self-funded Mutual Value Assessment approach – to identify potential value opportunities at no cost or obligation to the client. LogicSource works with some of the world's most recognizable brands across Retail, Consumer Goods, Healthcare and Financial Services to help them manage their indirect spend more efficiently and cost-effectively. Clients including The Gap, Rite Aid, lululemon, Under Armour, Tractor Supply, DSW, GlaxoSmithKline, PetSmart, The Fresh Market, Titleist, Ocean Spray, Wellspan Health and more. By combining decades of sourcing and procurement expertise, a world-class supplier ecosystem, superior market intelligence, $85B in cross-portfolio spending leverage and their leading OneMarket Source-to-Pay technology platform, LogicSource drives sustainable profit improvement for some of the world's most recognizable brands.
- Website
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http://www.logicsource.com
External link for LogicSource, Inc.
- Industry
- Business Consulting and Services
- Company size
- 201-500 employees
- Headquarters
- Westport, CT
- Type
- Privately Held
- Founded
- 2009
- Specialties
- Procurement Outsourcing, BPO, Strategic Sourcing, Print Procurement, SaaS Software Solutions, Retail Operations, Marketing Procurement, Sourcing and Procurement, Indirect Procurement, Spend Analytics, Sourcing Performance Management, Source-to-Pay Technology, Not-for-Resale Procurement, Contracts Management, Sourcing Tools, Sourcing Expertise, Market Intelligence, and Procurement Execution Services
Locations
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Primary
44 Main Street
Westport, CT 06880, US
Employees at LogicSource, Inc.
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Bill O'Brien
Senior Director / Managing Director / Vice President – Digital Transformation & Marketing Technology
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Thibaut Atrous
Procurement & Supply Chain Consultant
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John C. Fallon
Chief Marketing Officer
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Jim Kindel
Indirect Procurement Strategy, Supply Chain Management, Leader, Fun Team Member, Teaching Moments, Strategy, Analytics, Manufacturing, Problem…
Updates
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We’re thrilled to announce that LogicSource, Inc. and our OneMarket technology platform have made the Spend Matters “50 Providers to Watch” list for the 4th year in a row! “The way companies approach procurement is changing daily, and decisions need to keep pace with that evolution,” said Mark Flowers, Partner of OneMarket Technology at LogicSource. “Access to accurate, real-time data—both internal and external, across industries and geographies—is critical for success in today's procurement landscape. At OneMarket, we’re developing the technology that empowers businesses to make informed decisions quickly and stay ahead in this fast-moving environment.” For over a decade, Spend Matters has celebrated the innovators who are pushing procurement forward. We’re proud to be one of the companies reshaping the future with tools and solutions purpose-built for the way modern procurement work is done. Read the full announcement: https://lnkd.in/gNbYxnyM #SpendMatters50toWatch #ProcurementExcellence #ProcurementInnovation
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🎙️📢New Podcast! In our latest episode of Smarter Sourcing, Kevin Spinti, Vice President of Global Procurement at Heraeus Medevio, shares insights on the evolving landscape of supply chain management. He discusses the impact of remote work, the importance of contingency planning, and how technology is transforming procurement roles. Here are three key takeaways: ✅The shift to remote work has transformed team dynamics, emphasizing the need for effective virtual collaboration and communication. ✅Contingency planning has become crucial in navigating supply chain disruptions, especially in the wake of the pandemic. ✅Technology is streamlining procurement processes, allowing teams to focus on strategic decision-making and relationship-building with suppliers. Tune in to learn how these changes are shaping the future of the industry! Full episode: https://lnkd.in/gKTVgZte 🎧 Listen on Apple: https://lnkd.in/g8buUEkq 🎵 Tune in on Spotify: https://lnkd.in/gCu__4er 📺 Watch on YouTube: https://lnkd.in/gr2z372x ✍️Read our Blog: https://lnkd.in/gKTVgZte #SmarterSourcing #sourcing #procurement #datadriven #supplychain
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Is your health system on top of managing and analyzing procurement data? Spending can become fragmented and challenging to track when dealing with multiple procurement systems and decentralized teams. Mark Flowers, LogicSource & OneMarket’s Managing Director of Product Management and Operations, highlighted in an article published in Health Data Management that understanding how much and how often you spend can help you identify purchasing patterns, increase operational efficiency, and reduce costs. He shares eight key metrics that can empower health systems to create a robust, data-driven framework, supporting operational excellence while minimizing waste. Discover how to leverage these metrics for impactful results in the full article here: https://lnkd.in/gGc3V3FK #ProcurementAnalytics #HealthcareProcurement #NonclinicalProcurement #SpendManagement
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Supply chain disruptions, inflationary pressures, and a rapidly evolving e-commerce environment — many organizations struggle to keep up with increasing demands and maintain profitability. But what if you could anticipate and capitalize on them? With a proactive procurement strategy, you can gain a competitive edge that helps your business remain resilient through uncertain times. In this episode of the Supply Chain Management Review Magazine podcast, David Pennino, Founder and CEO of LogicSource, joins host Brian Straight, Editor in Chief of Supply Chain Management Review, to shed light on procurement and spend management strategies leading businesses are adopting to thrive amid ever-shifting market conditions. Tune in for more of David's insights on proactive strategies for adapting swiftly to market changes and leveraging AI tools to identify inefficiencies in your procurement process. Listen now at: https://lnkd.in/gcG6Fjn9 #SupplyChain #ProcurementTrends #ProcurementStrategies #IndirectSpend
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At this year’s IDN Summit & Reverse Expo, one thing was evident: traditional supply chain strategies that once served them well are no longer meeting the demands of today’s health systems. Non-clinical spend accounts for 20% of net patient revenue, yet GPO contracts only cover ~25% of these expenses, leaving the remaining 75% unaddressed. This oversight represents an opportunity for significant savings that could be reinvested into enhancing clinical care. We ran a focus group on the topic of “Breaking the Savings Barrier”, which revealed a pressing need for a more transformative procurement strategy. In this session, healthcare leaders discussed actionable steps to uncover cost-saving opportunities, such as benchmarking against other industries and focusing on data-driven decision-making. LogicSource Associate Partner James Bouchard’s latest article featured on Health IT Answers Media Network covers the key insights and takeaways from the Summit and focus group. To learn more, read the full article here: https://lnkd.in/gEDCBKhk #IDNSummit2024 #HealthcareSupplyChain #HealthcareFinance #CostSavings #NonClinicalSpend
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How mature is your approach to non-clinical procurement? The answer could be impacting your bottom line. David Kirshner, LogicSource Managing Partner of Healthcare, spoke on this very topic of “Healthcare Innovation: Increasing Non-Clinical Procurement Maturity” at the annual Healthcare Financial Management Association (HFMA) Maryland Healthcare Conference. Speaking to healthcare finance professionals and leading healthcare organizations, David shared how implementing a centralized non-clinical procurement process is the key to driving significant operating margin improvements and increasing the function’s overall maturity. Want to hear more from healthcare finance leaders like David? Connect with us to discover how we can help you uncover hidden savings and achieve healthier margins here: logicsource.com/healthcare #HFMA2024 #HealthcareFinance #HealthcareLeadership #HealthcareProcurement
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Many health systems continue to operate at a deficit due to inflation, rising operational costs, and delayed reimbursements. It’s a harsh reality that keeps many health CFOs awake at night. But there is light at the end of the tunnel, and the key to getting there is by taking a disciplined approach to optimizing non-clinical spending, which typically consumes 20% of a health system’s net patient revenue. In the latest Chief Healthcare Executive article, Strategic Advisor of Healthcare, Mark Van Sumeren outlines five actionable steps healthcare systems can implement to enhance their non-clinical procurement processes and uncover significant cost savings amidst rising operational expenses. Find out how you can accelerate your journey to better margins in the full article here: https://lnkd.in/g3kFRZek #HealthcareProcurement #CostSavings, #NonClinicalSpending, #SupplyChain
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How confident are CFOs today in navigating healthcare’s financial storm? With rising costs, delayed reimbursements, and a seemingly endless list of organizational headwinds, perhaps it’s time to take a step back and question if traditional cost management approaches are truly effective. Non-clinical spending, which typically consumes 20%+ of net patient revenue, often goes unnoticed but holds significant potential for savings. Our latest blog by Mark Van Sumeren, Strategic Advisor of Healthcare, highlights how LogicSource and Cleveland Clinic’s collaboration is helping health systems uncover these hidden savings by implementing procurement best practices and cross-industry expertise. Learn more about the collaboration and how these strategies could work for your health system in the full blog: https://lnkd.in/g-E44Sms. #CostManagement #HealthcareProcurement #NonclinicalSpending #FinancialStrategy
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What does it truly mean to be a modern CFO in an era where financial leadership drives innovation and collaboration? The answer lies in this episode of the CFO Weekly podcast presented by Personiv. LogicSource Chief Financial Officer and Chief Administrative Officer Niki Heim shares her unique perspectives on the changing landscape of finance leadership. Niki discusses why CFOs must deeply understand operational processes and embrace a forward-looking mindset to align financial strategies with broader business goals. Listen to the full episode here: https://lnkd.in/grc66W-z. #FinancialLeadership #ProfessionalGrowth #WomenInLeadership #CFO #TransformationalLeadership