Cost-Savings on the Cutting Edge

The typical approach to controlling meeting costs in pharmaceutical companies is to do so externally β€” that is, to manage expenses through relationships with suppliers and by negotiating. But Bristol-Myers Squibb Co. has taken an unusual and forward-thinking approach, implementing a system called consumption and specification management (CSM).

β€œIn addition to cost-savings as a result of contract negotiations, you need to step back and look at why you're doing things, how you're doing

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