In my current role as a Contract Administrator for Novation in Irving, Texas, I have work routed at least twenty eight contracts annually to execute contract extensions worth more than two hundred million. I am responsible to ensure all alliance with academic medical centers and affiliated hospitals are able to purchase the product and receive three percent administrative fees. The administrative fees is much like a Chase credit card that accumulate points that will eventually be returned as cash or incentives to purchase other item. The Chase points go back to the customers; administrative fees go back to health alliances. I also collaborated with the Pharmacy Brand Team to provide intravenous solutions, drug delivery products, nutrition products, IV administration sets, infusion pumps and other medical devices to member hospitals.
I learned how to offer member hospitals a range of contracting services, including contract development, contract and manufacturer management, custom contracting, enhanced savings program, and online contract management to increase Novation's purchasing volume. These services offer the member hospitals the option to go to the online contract management system to make product purchases at a discount. I learned that it is an added benefit to all member hospitals to have the best price in the market. I learned that it is up to me to add every product needed on contract. I learned that there are times administrative fees are not always available, but I can guarantee to the member that the product is always available. If the product is not available, the manufacturer has to issue a credit to the members that could accumulate to huge savings over a period of time.
Get your grade
or your money back
using our Essay Writing Service!
I learned to attract health alliances to contracted items by using terms to get their attention regarding additional member value. I learned that it is instrumental to inform the member that a price five cents lower from a competitor does not always mean savings. I learned that manufacturers' offers back end rebates that are sent in a form of a check or wire that result in a contract net price lower than the competitor price. I learned that competitors often use their sales force to go to the health alliances across the United Stated to communicate attractive terminology to the department head.
I learned that it is not attractive to use catchy phrase or terms on marketing material often. I learned that advertisement with an overtone of catchy terms could convolute a product description. I learned when talking to a member I must confidence when I discuss a product in the pipeline. I learned when creating an electronic communication it is essential to mention the additional value or the regional impact of savings for products over a rolling twelve month period. I also learned when launching a new product to use let the members know that it is a new generic launch, which will bring a surplus of savings to their facility. I know this will cause more traction and encourage the member to purchase the product.
I learned when adding a product on contract it is important to let the members know that the product is high quality and triple A rate through the FDA. This let the members know that the product has been through the proper channels to distribute safely in the United States. I learned what is more attractive is having the product available before the competitors. This let the member know that I went above the call of duty to ensure they have the product when needed.
In my current role as a Contract Administrator for Novation located in Irving, Texas, I am responsible for five Novaplus contract that required me to track NOVAPLUS ® products availability at wholesalers' locations across the United States. This encourages me to improve a process by creating a report that alerts Portfolio Executive of problems with availability on a timely basis. I am also able to make recommendation to streamline processes that will enable the report to be generated and distributed in a matter of minutes. This report provides an outlook of the member purchases of pharmacy product on a monthly basis. I am able to use the data to determine if there are supply shortages and shipping issues. I am often prompt to establish a performance matrix based on terms regarding the constant issue regarding product availability.
Always on Time
Marked to Standard
I am required with a team of seven to use information developed from the new Pharmacy Novaplus Opportunity Report database to create target list of the top 40 hospitals that lost value opportunity. On a monthly basis, I have to segment the top 40 list by Account Executive and Regional VP. It is also my responsibility to send customized target lists to Account Executives and Vice Presidents by e-mail with detailed instructions on how to use the list.
I learned to be collaborative and resourceful with a team. I learned to accomplish a goal in a short period of time that allowed the Pharmacy Department to monitor and track its Novaplus business is a much easier manner. I learned that it takes knowledge and experience of principles and methods to promote and sell products and services. I learned that this process requires marketing strategy tactics, product demonstration, and sales technique. I am able to persuade others to change their minds or behavior concerning a product. I often use uncommon method to convey this type of information effectively. I am able to use my verbal skills to speak clearly so others are able to understand me. I have learned to promote products patients and a friendly attitude are needed. I learned to get my point across. I must have a passion to interact with a variety of people and comfortable speaking with the public. I learned I must stay focused on organizational goals and to maintain a positive attitude when handling rejection. I know this is needed to entertain an audience and use humor and personal interest in the product as promotional tools.
I have learned that this tool will fulfill directives of marketing projects, history of interacting with individuals of all capacities, and ability to produce high-quality written materials on a timely basis. I have to continue to provide much value and benefit to Portfolio Executives and Pharmacy Directors. I learned that feedback from Account Executives and Vice Presidents has a positive effect to convert purchase volume for contracted items. I learned that communicating with external clients will increase commitment to the Pharmacy Novaplus program.
I have learned that a performance matrix is a decision tool used to make executive decision for a new and existing product. I learned that a performance matrix is an array of alternatives or options that are used to evaluate and weighted contract terms that are important to the members. I learned that it is critical to rate terms based on a ratio scale to avoid bias of an important decision.
From 2005 to 2006, I was the Senior Compliance Specialist for a mortgage lending company in Carrollton, Texas. It was expected of me to take to review and negotiate vendor contracts for Capital Equipment. I often had to make recommendation to upper management about purchase that is going to significantly impact the company budgets. I often had to meet various vendors to review their product and services to see if the product going to meet the company need and financial threshold. I was responsible to prepare a user manual which was established according to the standard materials management guidelines.
I learned that Capital Equipment must be established as a priority by the Resource Allocation Committee. I learned that departments should contact Materials Management for bids, quotes, and demonstrations. I learned that Materials Management with the Capital Equipment refines specifications obtained quotes from vendors. I learned that a provider of Capital Equipment under the contract with a company Materials Management was not required to conduct a bid to obtain comparative pricing for Capital Equipment under one hundred thousand. In addition, I also learned that provider of Capital Equipment under contract with a company with Capital Equipment estimated above one hundred thousand; Materials Management was required to conduct a competitive bid on behalf of the department. There were also rules for providers that did not have a contract. Materials Management was required to conduct a competitive bid on behalf of the department.
I learned that most bids were conducted through on-line bidding system for a period of ten days. This helped to obtain the most competitive pricing and services arrangements. I learned there were instances when Materials Management determined the Capital Equipment can be obtained without a competitive bid due to an allowable exception such as a need to be compatible with existing equipment were forced to complete a Sole Source Justification Form.
This Essay is
a Student's Work
This essay has been submitted by a student. This is not an example of the work written by our professional essay writers.Examples of our work
I learned that completed and signed Capital Expenditure request form were used after Material management obtain price quotes based on requirements set by Resource Allocation Committee. I learned that the Capital Expenditure request form included the obtained price and detailed specifications. I learned that Capital Expenditure request must be signed by the department's Director and submitted to administration to be signed either by the Chief Financial Officer or Chief Operating Officer.
I learned Capital Expenditure request form was always submitted to the Finance Department to allocate a batch number. I learned the form was sent to the Finance Department to confirm the purchase has been prioritized by the Resource Allocation Committee. I also learned that the Finance Department logged the form into the Financial System that interfaces with a project management application and assigned the number needed to apply on the request form.
I learned that once vendor agreements were negotiate and signed, the applicable department's director received an email with a number. I also learned that Materials Management obtained a draft contract from the vendor to negotiate and finalize pricing and terms. I learned that a signature is required from upper management to bind the agreement by routing a vendor letter to either the Chief Financial Officer or Chief Operation Officer. I learned to screen the vendors to endure compliance were adhered to governmental requirements. I learned that purchase orders were issued by the financial system that generated the form number. I learned to place the order with the manufacturer and referenced the purchase order to settle any dispute.
POST BUYING EVALUTION
In my current role as a Contract Administrator for Novation located in Irving, Texas, I work with a staff member to create detailed instruction and guidelines to create, submit, and analyze an award for each mini-bid. The process that was in place required manual work for each step. I took the initiative to link or referenced multiple spreadsheets during the bid analysis, the most time consuming process, in order to determine the low best bid. The mini-bid process required me to analyze up to ten to fifteen line items with as many as eight to ten sending bid submission. I created a streamlined process without any guidance or assistance to ensure no errors are accumulated. In addition, I was responsible to submit award announcement to each manufacturer, notify distributor of the new awards, and update the new awards in the catalog. I was also held responsible to calculate the savings generated in each mini-bid and prepare E-News announcements for member notification.
Every three years I am required along with the Pharmacy team to complete a bid roll that includes seeking competitive price bids for all multi-source items and establish term and conditions for over one hundred and forty manufactures. This function is performed every three year over eighteen month period to ensure contracts are executed in a timely fashion. I responsible to write Executive Summaries for all manufacture to describe the products offered through their pipeline.
I learned that it takes multiple steps to initiate a bid that will result in significant price savings for Novation's members on a monthly basis. I learned the final stage of a bid is an award announcement. This final stage of evaluation is to let the bidder know that they won the award and it will be added on their contract. Based on contract performance, I tend to have concerns regarding the award decision know that the manufacturer has a history of not supplying the product. I often feel that an alternative product is the best option because the contract performance is more solid. This is a constant example of an issue after a bid that causes me to consult legal to award the product to a competing manufacturer. After the award is formally announced, I learned that I must go through the necessary channels to market the product to the members and encourage them to make purchases to increase market share.
I learned that as a Contract Administrator I must introduce new and innovative ways to run a bid process more efficiently to lead into a quick turnaround to report results to all impacted parties. As consumers use products, particularly during a trail purchase, they evaluate its performance in light of their own expectations. There are three possible outcomes of these evaluations that are actual performance matches expectations, leading to a neutral felling. Secondly performance exceeds expectations causing what is known as positive disconfirmation of expectations which leads towards satisfaction. Third one is performance is below expectations causing negative disconfirmation of expectations and satisfaction are closely linked that is consumer tend to judge their experience against their expectations when performing a post purchase evaluation.
I learned sales analysis helps the company avoid uncertainty that may arise with a member regarding a particular product. During a sales analysis, members always are trying to validate their selection and to reduce conversion opportunities. I learned that member adopt certain strategy to make a rational decision and avoid purchasing non-contract items. I learned that sales analysis is a primary focus depends on the importance and use of the product.
IMPROVING MANAGEMENT DECISION REGARDING PRICING, PROMOTION, DESIGN, AND DISTRIBUTION OF GOOD OR SERVICES
In my current role as a Contract Administrator for Novation, I have the responsibility of managing nine hundred and fifty pricing issues that is load in Novation's competitive pricing database. Although this process may result in monitoring around two hundred and fifty unique NDC for Portfolio Executives' contract, I have to track the progress on these items. I develop the time management skills necessary to complete impromptu tasks. I am able to export information from the competitive pricing database, separate information by manufacturer, and format the data files to make them presentable for manufacturer review and research. I have to determine which item with no price comparison actually have to go through a re-bid process. It is also my responsibility to review responses from manufacturer to make an objective decision to confirm price effective dates and document specific notes for future reference.
I learned that it takes multiple steps to initiate a bid that will result in significant price savings for Novation's members on a monthly basis. I learned it takes me to brainstorm constantly to come up with new and innovative ways to process a bid more efficiently that will lead into a quick turnaround of results for all parties. I learned that it is necessary for me to receive feedback from National Account Managers, Account Executives, and members to eventually covert non-contract items purchased to items on contract. I learned that communicating with external clients on new product in the pipeline with sales over two million dollars will increase commitment to the Pharmacy Novaplus program.
I also learned that each decision dialog is handled strategically to increase monthly revenue according to fees negotiated with the manufactures. I learned that this is a tedious process, but the end results of accomplishments are fulfilling. I also learned that manufacturers' most important sale pitch is solid pricing strategies and quality services. It is essential for the manufacturers to provide members with great pricing to have a successful contract performance. I learned that most manufacturer have pricing model and the primary focus to control the price for each purchase and make sure the distributors are not utilizing their administrative fees to tank the price over a period of time. This pricing model ensures that prices are not too low or high and help the manufacturers sustain the market. I learned that this operation approach prevents price leaks and increase the manufacturers' profits.
I learned that the big pharmaceutical distributors are Cardinal, AmerisourceBergen, and Mckesson. It is essential for group purchasing organization to have an excellent relationship with distributors because they are the heart of the supply chain. I learned that the big three distributors ship products promptly to member hospitals and institutions. I also learned that distributors are needed for additional service according to a member logistic or packaging need. The big three distributors often engage with manufacturer to establish a customer relationship and provide services safely through their supply chain.
APPLICATIONS AND IMPLICATION FOR NEW SITUATIONS
I believe buyer behavior management is essential to assist my friend to create a donation center via the website for her non-profit organization called Woman Called Moses that helps batter woman. We are constantly trying to find housing, food, clothing, and way to receive financing for the women to get a new start on life. This skill set will help me to identifying the need for food and clothes. I will be able to identify the need to replenishment more inventory to ensure we the necessity for the women in need.
I am also able to use this skill to interview, hire, train, and manage staff members to help with new assignment and promotional opportunity to acquire revenue through negotiation of fees with manufactures to support this cause. I am sure I will be able to maintain communications with external offices with vendors to support this cause. In addition, establish a distribution to support donation received by individuals and communities. I will be able to acquire fund the e-bay or another selling site. Through constant efforts to research and record data for sales analysis and reporting activities, Woman Called Moses will receive the contributions needed to purchase housing, food, and clothing for the battered women in need.
The buyer behavior management skills will help me to implement an inventory databases through Access to track product purchases and revenue acquired by donations. Although this is not a for profit organization, I will need to collaborate with vendors, trucking companies, and people from all walks of life to coordinate a cost-effective and timely way to make to most of all contributions and donations used to support the expense for this non-profit agency. I really like the whole strategic process of purchasing items or setting up an item to bid on line. I think it very important and to use marketing skills with creative talent to entice buyers.
The emergence of e-commerce by using EBay and Craig list as a way of doing business has created an environment that will meet the need and expectation for the non-profit organization. I will use the marketplace to advertise item that was not needed by the batter women to fund accounts to obtain housing, security protection, and help the women to relocate to another demographic for safer environment. The funds that will be obtained through a promotional sale will also be used to provide medical assistance, food, and education to help them find a new career to support themselves. I will use the knowledge and experience about buyer behavior management to support new and existing business plans.