Reviewing the basics of an ABC analysisAugust 31, 2024ABC analysis is a method of classifying inventory items that can ultimately be beneficial for the practice by helping reduce costs, improve customer service, and increase profitability by keeping the inventory clean.
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Not every clinic can attest to a COVID boomMay 26, 2022There is a range in how COVID has affected veterinary practices. Some clinics are booming with new pets adopted during the pandemic; others are experiencing low volume and revenue.
Why clinic inventory is truly a team sportFebruary 17, 2022Without the cooperation of the group, inventory can quickly get away from us.
Inventory manager: The secret employee you didn't know you couldn't live withoutMarch 5, 2020The worst part of any day in a veterinary hospital is needing something and not having it. It’s the kind of thing that makes you want to scream, “Heads are gonna roll!”
Ten ways to improve your clinic's cash flowDecember 6, 2018Cash flow in veterinary practices is challenged by several factors, but broken down, it’s simple: how much comes in versus how much goes out. Here are 10 ways your practice can immediately take control of its cash flow.
10 inventory myths and mistakesMarch 27, 2017Pop quiz 1: What’s a clinic’s highest expense? No cheating or peeking. If you answered payroll or labor, you are correct. Pop quiz 2: What’s a clinic’s second-highest expense? Think about it. Think some more. If you answered inventory, you are in the minority of people who aced both questions. In a well-managed practice, inventory might make up about 20 percent of revenue.
