How do you know the decisions you make for your career are the right ones to make?
On February 20th DeviceAlliance and UCI’s Division of Continuing Education will take aim at the in’s and out’s we face throughout our careers in an event called ‘Medical Device Career Navigation’.
While we are all very different as people in our behaviors and our mindsets it’s remarkable how those differences bond us in similarity.
Many of us will experience the same decisions throughout our career. Do we take the money or the training? Prestigious titles versus meaningful work? Take a step back to hopefully take two forward. Be my own boss or work for someone else? Stay the path of employee or seek opportunities in management? Or even leaving a career to begin anew.
The answers to these questions are never easy yet we are all faced them! In this, a powerful opportunity exists - learning from those who have been there before.
On the 20th of February in Irvine, CA the event ‘Medical Device Career Navigation’ will embark on a journey through the entire life cycle of a career from college graduate to retirement, and everything in between. Attendees will hear from experienced professionals who represent three career segments:
As we work our way through each career segment we will hear and learn first hand from professionals who have been there and done it before. We’ll discover the lessons they learned, decisions they made and outcomes they experienced along the way. We’ll learn from their stories and have opportunities to inquire about our own situations to collect feedback and direction.
During this event we will also discuss structured processes for decision making, like ACIP. ACIP, or Alternatives, Consequences, Information and Plans, is a process for collecting information and understanding our options BEFORE we make a decision.
Utilizing processes like ACIP and others which are similar can help improve your decision making process. Combine that with experienced anecdotes from people who have done it themselves and we have a recipe for improving our chances of making the best decisions for ourselves while reducing regret or heartache along the way.
Save the Date: Be sure to join DeviceAlliance and UCI’s Division of Continuing Education on February 20th, 2018 at 5:30PM for an evening of learning and discussion on ‘Medical Device Career Navigation’. Event details and RSVP click HERE.
How to Pick the Right Supplier
The supplier selection process is an important and vital step for any size company. Making the wrong decision leads to countless hours of wasted time and of course money down the drain. A successful supplier selection process is even more important for small and start-up based business where financial considerations are at the top of the pecking order.
When looking for a new supplier follow these steps to best position yourself and company for success:
1.Know What You Need Before You Need It
Two reasons this is important: 1st – if you don’t know what you need how will you be able to explain it to a supplier? When we know what we need and therefore want we're better prepared to explain those needs while setting expectations for what a successful partnership and outcome looks like. This minimizes miscommunication and opportunity for expectations falling through. 2nd - Waiting till the last minute to find suppliers often leads to decisions being made which may get you out of a momentary jam but leads to larger problems down the road. For this reason it’s vital you are proactive in establishing relationships with vendors and suppliers.
2.Establish Minimum Expectations for Vetting Suppliers
Establishing minimum expectations means that you will vet all potential suppliers with the same list of needs, criteria and expectations. This will help to create an even playing field when vetting suppliers and their capabilities. Similar to #1, when you know what you want and have created a way to gather information which allows you to do equal comparisons your chance of making the right decision increases dramatically. If need to create a checklist to hold yourself accountable to making the right decisions then by all means do so.
Once you know what you need from a supplier it is important to think about other associated or cross functional activities which need to be done that could be accomplished by a single supplier. The ideal situation is you find a supplier that can do more than just one component of your needs, therefore providing more value in the long run. This also saves time because you have less suppliers and vendors to managed increasing your efficiency and effectiveness.
Referrals, referrals, referrals. Once you know what you need the best approach to finding the right supplier is by reaching out to others in your industry, or industry associations, to learn who they use, and just as important who they don’t use. Take the time to read reviews, gather intel from people you trust before you start calling potential suppliers. While sites like Thomas.net and Google can provide this information it is likely you will quickly find yourself overwhelmed with information. In the end the most useful data is those that are unbiased or comes from experience which is best collected from trusted resources.
5.Outreach and Selection
When speaking for the first time with a potential new supplier try to connect with the people you will actually be working with, not just the company’s sales person. This is important because once the relationship is established the majority of your time won’t be spent with their sales people rather those delivering the service or product. What is their communication like? Do they respond quickly and address mistakes immediately? What is their customer retention rate? Find out how long their employees have been with the company too. If the company suffers from consistent turnover that should be a big red flag as you will likely have to be much more involved with this supplier helping coach and direct new employees to ensure the work is done properly. You don't want to be in a situation where you're training your suppliers new employees just so they can turn around and bill you for it. Also, where are you in the pecking order of the level of importance to the supplier? Don’t be fooled, not all clients are treated equal, even if they tell you otherwise. When you know where you stand it is easier to build a relationship based on realistic expectations. In the end, supplier selection should come down to three things, in ranked order:
At the end of the day it doesn’t matter how affordable or cost effective a supplier is, or how nice they are as people. If they can’t perform, and do so consistently, the other two don’t matter. I’ve also found that paying a bit more for the right service and relationship often times is worth the investment it in the long run.
About the Author
Travis Smith is the founder and managing director of Square-1 Engineering, a life sciences consulting firm, providing end to end technical project services to companies which design, develop and or manufacture products in Southern California. He successfully served the life sciences marketplace in SoCal for over 15 years specializing in engineering services, consulting, project outsourcing and leadership development. In 2019 he was recognized as a ‘40 Under 40’ honoree by the Greater Irvine Chamber of Commerce as a top leader in Orange County, CA.