Know terms and conditions for a healthy bottom line

When negotiating with suppliers there are steps materials managers can take to ensure a contract is written in the hospital's best interest. One key point is that organizations should use their own contract template instead of the supplier's. This automatically puts a purchasing department at an advantage, as long as the templates are up-to-date. Also, seemingly innocuous language can be financially detrimental in the end, so it is imperative that anyone involved in the process be educated about contract language.