The Myth about Inventory - Should you take Control? (Part 1)Updated On: 19 July, 2021
Why does keeping track of Inventory help your Clinic?
- Time, Skills and Talents
Accurate inventory records mean that your inventory staff has more time available to do other things. For example, they can investigate new vendors/products or come up with ways to reorganize the inventory for optimum efficiency and access. This not only improves productivity and gives your clinic additional options but also lets nurse/assistant explore other skill and talent areas they have.
- Inventory Cost
When a company holds a high level of inventory, it ties up business funds that the company could use in other areas. New customers and marketing can bring additional business to the company, but holding high inventory levels does not.
Storage is another cost of holding excess inventory in a business. The cost of storage can include the clinic space, utilities and maintenance of the storage area. Some supplies may require additional maintenance, such as temperature control to preserve the quality of the material. Companies that reduce inventory levels can store materials in a smaller area in the business and use the extra space for other activities.
Storing excess inventory can lead to quality problems such as expiry/degradation and potential obsolescence.
Without a reliable system to track inventory, the busy Dentist will never know which products are being subject to wastage or excessive usage. Both of which lead to unnecessary cost and lower profits.
Call us or register at www.smilesmith.dental and start your clinic’s journey to greater profitability today.
At www.Smilesmith.dental we are committed to helping you Save Time and Cut Costs