Inventory

Especially in the last couple of years with seemingly constant supply chain issues, maintaining an inventory has been a problem. Increases in the price to maintain an inventory hasn’t helped the problem either and we have an ongoing issue in keeping shelves stocked without breaking the bank.

Let’s talk about ways we can not only maintain stocked shelves, but create systems that work for the entire team to communicate inventory needs. Alex Flinkstrom joins us to talk about this topic. He has been in the veterinary industry for 25 years and is currently the Practice Manager at Lunenburg Veterinary Hospital in Massachusetts. Alex is passionate about helping people find solutions to problems and this ongoing problem in the industry needs the solutions he’s got to offer. Listen for ideas on how to help solve this problem for your practice.

 

Show Notes:

[2:22] - Maintaining supplies is hard for various reasons. Small practices may even struggle with space in keeping bulk inventory.

[3:32] - Some items can be maintained in a computer system, but not every little thing needs to be tracked that way.

[4:16] - Alex recommends having a central stock location.

[6:19] - There is a learning curve for the team to know what is kept in stock consistently and what they will run out of quickly.

[8:57] - A tagging system is a good way to notify managers of things that aren’t frequently ordered that need to be restocked.

[10:09] - Use your team’s strengths. Alex has an employee that is a former chef that uses his previous career skills to maintain inventory.

[12:42] - Alex also makes sure to do spot checks on inventory from time to time.

[15:04] - Accurate inventory is also tied directly to patient care especially when it comes to ensuring the correct dosage.

[16:50] - Things being on backorder can be a sticky situation.

[18:08] - Having a network of other practices to communicate when things they are ordering are on backorder or when things are back in stock, keeps us on top of it.

[20:07] - Sometimes changing the person who does a count makes a difference. Multiple pairs of eyes can be helpful.

[23:01] - The benchmark to look at differs per practice.

[25:22] - What are Alex’s ideas on end of year counting?

[27:30] - If your inventory isn’t what you want it to be, start small and build over time to see what works.

 

Thank you for listening. Remember you are not in this alone. Visit our website for more resources.

 

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