Entries with the topic Supplier Wednesday.

Margins are narrow, manage inventory wisely

Dec 14, 2016 by Edward L. Blach, DVM, MS, MBA

Consolidation and competition at all levels of the veterinary industry are reducing margins for all stakeholders.  When you are forced to accept smaller margins in your business due to... [ Continue Reading ]

Topics: Featured 3 ,Optimize Inventory and Suppliers ,Supplier Wednesday

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Educate your heavy lifters

Dec 7, 2016 by Edward L. Blach, DVM, MS, MBA

Approaching year-end, it is important to build your budget for next year.  In your budgeting process, remember to include plans and funds to edcuate your heavy lifters.  Heavy... [ Continue Reading ]

Topics: Featured 3 ,Optimize Inventory and Suppliers ,Supplier Wednesday

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At year-end, review and optimize your supplier agreements

Nov 30, 2016 by Edward L. Blach, DVM, MS, MBA

Be careful with those year-end buying opportunities, as they may not always be good for your practice.  Buying large volumes to fulfill a year-end sales objective brings some risk... [ Continue Reading ]

Topics: Featured 3 ,Optimize Inventory and Suppliers ,Supplier Wednesday

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Set reorder levels and use alerts for reordering

Nov 23, 2016 by Edward L. Blach, DVM, MS, MBA

Inventory management doesn't have to be difficult.  It represents approximately 20% of revenue in the average healthy practice, and it impacts practice value dramatically, especially if it's not... [ Continue Reading ]

Topics: Featured 3 ,Optimize Inventory and Suppliers ,Supplier Wednesday

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Early warning systems

Nov 16, 2016 by Edward L. Blach, DVM, MS, MBA

The intent of management should be to accomplish the objectives of the business.  It is assumed that those objectives include most of the following: achieving exemplary customer satisfaction and... [ Continue Reading ]

Topics: Featured 3 ,Optimize Inventory and Suppliers ,Supplier Wednesday

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Five immediate steps to begin to secure your inventory

Nov 9, 2016 by Edward L. Blach, DVM, MS, MBA

Where do I begin?  This is a frequent question asked by practice owners who know they need to address their inventory costs, but who don't know how to... [ Continue Reading ]

Topics: Featured 3 ,Optimize Inventory and Suppliers ,Supplier Wednesday

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What is your distributor selling?

Nov 2, 2016 by Edward L. Blach, DVM, MS, MBA

What is your distributor selling?  Distributors by their name, provide services related to making available products and services that you need to run your practice and to provide exemplary... [ Continue Reading ]

Topics: Featured 3 ,Optimize Inventory and Suppliers ,Supplier Wednesday

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My practice is different

Oct 26, 2016 by Edward L. Blach, DVM, MS, MBA

Frequently, when discussing practice financials and metrics with practice owners, the statement, "my practice is different" is spoken when the topic of implementing the 40/20 rule in management practice cost centers. ... [ Continue Reading ]

Topics: Featured 3 ,Optimize Inventory and Suppliers ,Supplier Wednesday

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Is your ‘check engine’ light on?

Oct 19, 2016 by Edward L. Blach, DVM, MS, MBA

A typical scenario is that a practice thinks they have proper inventory controls in place and one day they learn that their profitability just isn't what they think it... [ Continue Reading ]

Topics: Featured 3 ,Optimize Inventory and Suppliers ,Supplier Wednesday

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Track your 40/20 closely

Oct 12, 2016 by Edward L. Blach, DVM, MS, MBA

Your 40/20 refers to that portion of revenue that goes to pay for Labor and Cost of Professional Services (COPS - inventory, lab, radiology, and other related services).  Labor should... [ Continue Reading ]

Topics: Featured 3 ,Optimize Inventory and Suppliers ,Supplier Wednesday

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