Inventory is the second largest expense category in most practices. It is important to optimize your inventory and to implement sound inventory controls to ensure that it is managed at an appropriate level.
One significant step is to simplify inventory by reducing the number of different items (SKU's) you keep in inventory. For example, instead of stocking every different product in a category, the healthiest practices insist that their doctors make decisions regarding the fewest products needed to serve the needs of their patients, which products are redundant, and which are used only rarely. They then decide to hold in inventory the fewest number of different products that are absolutely necessary.
By reducing SKU's and simplifying inventory, you can significantly reduce inventory shrinkage. In addition, in most cases, by carrying fewer SKU's, you will be able to negotiate improved acquistion costs for most products.
Simplify your inventory today!
