Veterinary practice inventory management and control done haphazardly (gasp! yes! it happens) are one of the QUICKEST ways a veterinary practice can lose profit! In this post we’ll show you HOW to avoid costly mistakes and how to quickly correct them.
In a matter of only a few days, THOUSANDS of dollars can be lost! 😱 Because, even simple mistakes like not correctly accounting for markup, proper percentages and quantities can hurt the bottom line with rippling effects.
Worse still, patient care can suffer! Likewise, the opportunity to provide additional goods to your clients for a well-rounded visit might be lost. That’s why it’s so important your veterinary software partner provides built-in reporting. PLUS guidance on best practices for veterinary inventory control.
Time To Control Your Veterinary Practice Inventory Management!
It is vital to keep a close eye on veterinary inventory through management and control best-practice methods.
It’s obviously important to keep an eye on inventory for patient care needs but also to identify any issues that might be staff-related. Furthermore, it’s also so important to stay compliant with records and reports when it comes to veterinary practice inventory.
Tips for Better Veterinary Practice Inventory Control
If set up correctly, veterinary inventory management and control can be a breeze! Reordering CAN BE simple. Never lose $$ for lack of inventory or missed and incorrect pricing. As a result, even errors around discounts and markups can be a thing of the past.
Let’s show you how easy it really can be!
1) Update Receiving, Not Just Quantity
Updating the quantity of just one item doesn’t correctly reflect how inventory was received. This will not correctly match the true quantity of items. Go back into the Management tab, select receiving and update the item. It’s important to complete this two-step practice, i doing so, inventory errors will be reduced and reports will match.
Watch the video below or, click here for more info.
2) Cross-Reference Reports – Weekly
Frequently cross-referencing inventory reports with physical inventory can catch any errors, faster. Using detailed inventory reports provided in Hippo Manager matching them with the physical quantity of items on hand. Complete this cross-reference, weekly because that will decrease chances for much larger problems later. Use the detailed reports for inventory under the reports area in Hippo Manager.
Learn more about the reporting suite in Hippo Manager, here.
3) It’s Easy to Streamline Processes in Hippo Manager
Bulk enter items, price, quantity and apply any discounts per item. Furthermore, this can be done with as many items at a time, as needed. This allows you to input inventory item by item and submit to add to your inventory tracking within Hippo Manager.
Easily save a PDF receipt for accounting elsewhere. Quickly print a receipt as-needed for working with distributors.
4) Correct Errors Immediately
Correct errors as soon as you notice them and if you can’t get help from our team!
Use a veterinary practice management system that can track your inventory and provide detailed reports like Hippo Manager. As a result, a lot of inventory management can be automated and generate less human error.
Take advantage of the unlimited support and training offered with every subscription and get help when it’s needed. Identify errors and if your staff can’t fix errors (like negative quantity – below) reach out to Hippo Manager training and support.
Use the online library full of hundreds of hours of self-paced learning. Get your practice and staff up to EXPERT user level in no time! Learn more about learning that you can learn with Hippo Manager here, (without alliteration).
UH-OH! An Item Has Negative Quantity!
Because this is a simple fix that you can complete at your practice without calling our support line.
Hey – we love to hear from you, call us if you want, but we like to EMPOWER our veterinary partners to THRIVE. (See what we did there)
Updating a negative quantity is super simple in Hippo Manager. Skip to about 9:00 in this video for detailed instructions on how to properly set up the received item. It’s a quick fix that updates that negative quantity issue!
How to Manage Veterinary Practice Inventory
Lucky for you it’s built-in to Hippo Manager. Because let’s be honest, complete inventory tracking, management, and control should be built-in. PLUS, your practice is supported by awesome reports and excellent customer service with Hippo Manager.
Use the reports to identify mistakes. Set up best-practices to manage and control inventory to zero-in on errors faster. Furthermore, begin TODAY so you can harness your true management powers, sooner.
Contact us to set up your customized one-on-one training session with your veterinary practice staff. Get a handle on inventory management, tracking, and control inside Hippo Manager. We’re here to help! 877-819-0159