According to AAHA and the American Veterinary Medical Association, there are more than 26,000 veterinary practices in the United States. The veterinary industry is very competitive, and demand for vet practices has been on the rise for the last few years.
Effectively managing = inventory is essential for your veterinary business’s success and growth. It’s a complex task, but it can be simplified using the latest technologies. Continue reading to learn about the latest inventory management practices that you can implement to boost your practice’s efficiency.
Innovative Inventory Strategy
The most exciting and innovative veterinary inventory practice is using advanced tools and techniques to account for acquired inventory.
The industry has moved away from manual inspection toward automated labeling and reordering bins. As a result, staff feel less stressed, there are fewer expired/unused items, and reduced overall inventory costs.
Deploying Tailored Solutions for Ordering Efficiency
Veterinary inventory management is complicated, so seeking external/expert assistance can open new doors to success. External partners will help you manage issues such as sudden spikes in the number of patients by accurately forecasting the shifting demand.
Alternatively, you could invest in a comprehensive, secure, and responsive software to identify unique, previously unnoticed inventory issues, followed by implementing a practical solution.
Diversification of Sourcing Channel
Sift through cost-effective alternatives and substitutes before purchasing veterinary inventory for your practice. Traditionally, only one or two vendors would be taken onboard for inventory acquisition. Now, due to robust back-ordering processes, it’s more comfortable and more productive to have several distributors for sourcing goods.
Leveraging White-Label Online Pharmacies
Studies have revealed a dramatic transition in customers’ buying behaviors, making inventory management a critical customer retention method. You have to adapt and pivot your services to meet and fulfill customers’ needs wherever they are—round the clock.
With online purchasing picking up pace, stocking all kinds of products isn’t a profitable strategy anymore. Consider offering an online vet pharmacy and curbside care facilities at your practice to maximize customer satisfaction.
Maximizing Autonomy for Upholding Inventory Processes
Employ designated inventory associates and managers to take your veterinary practice’s efficiency up a notch. The authority and ownership will give the selected staff members the drive to carry out the process successfully. Remember to reinforce these behaviors via periodic meetings to maintain high upholding productivity.
Install a Seamless & Fast Software for Veterinary Practices & Inventory Management
Outdated technology will not only affect employee morale, but will also result in a poor customer experience. If you’re looking for an advanced electronic health recordkeeping solution or veterinary practice management software, get in touch with us today! At Animal Intelligence Software, Inc., we offer top-quality cloud-based veterinary practice management software that can help in effective inventory management of your vet practice.