Episode 25: Top 5 ways to reduce inventory costs
On this episode of The Vet Blast Podcast, Adam Christman, DVM, MBA, talks with veterinary inventory manager Nicole Clausen about 5 easy ways to reduce the costs of goods at your practice.
Buying flea, tick, and heartworm prevention in bulk may seem like a good idea, but according to veterinary inventory manager Nicole Clausen, CSSGB, CCFP, that’s tens of thousands of dollars just sitting on your shelves.
“Be intentional about what you’re stocking and understand what you’re selling [at your practice],” she explains.
In this latest episode of The Vet Blast Podcast, Clausen shares her top 5 tips for cutting inventory costs at your veterinary hospital.
First on the list: Avoid duplicate or unconsolidated products. For example, Clausen says ordering dozens of food products (stews, pates, chunks, vegetables, chicken, etc.) just to appease clients can easily lead to overspending.
“I think a lot of times the perception is that our clients want options—not really, they want our judgment and suggestion for what is best for their pet,” says Clausen.
Secondly, try not to overstock on products. When you’re offered promotional prices at conferences, try to resist the temptation to overbuy, she says. The reality is that many of these extra items sit on the shelf until they expire, she adds.
“If you don’t sell it, it’s not a good deal,” she says. Checking expiration dates and stocking what you’re actually going to use and sell is the best way to go.
Listen below for 3 additional ways to reduce inventory costs at your clinic.