SUPPLY INVENTORY---SAVINGS ASSURED WHEN MANAGED WELL

 

If you’ve never paid much attention to your supply inventory, you’re in good company.  Many offices have no system of ordering, stocking, or conserving supplies; yet 4% to 8% of overhead is typically spent on clinical and business supplies, and every dollar saved in this area can add to your profit.

Consider appointing Inventory Coordinators, roles in which one staff member is given responsibility for clinical supplies; one handles business supplies.  These two team members should be aware of minimum and  current stock, OK purchase orders before each order is made, place or oversee placement of orders, check packing slips against supplies received in each order, and approve invoices before bills to vendors are paid.  Obviously a busy staff member may not be able to do all of these tasks herself or himself, but the Inventory Coordinators should be made aware of and approve each task done.  A second team member in each area may be trained as back-up for the primary Coordinator, and all staff should be trained on minimum counts, storage and stocking for each supply.

Minimum and current stock levels for all supplies should be determined and posted in the appropriate storage area.  Inventory tracking software is used for this purpose by some offices.  Multi-dentist practices find it efficient to maintain a Central Inventory location, perhaps in a climate-controlled attic or basement, and maintain a Working Inventory in a supply closet or storage units close to the working areas.  From the Working Inventory individual treatment units and business desk work stations can be stocked, preferably at the end of each day.

Encourage thriftiness.  Brainstorm savings methods with the team, and coach all staff members about the use of minimum amounts of supplies.  Avoiding waste of all items used, impression materials to medicaments to dental floss to office supplies, assures savings each year.  Incidentally, while your team is in the savings mindset, discuss ways to save on utilities also.  Although not part of your inventory system, real savings can be enjoyed by reducing utility usage.  And be certain whoever orders supplies takes advantage of sales offers and joins Buyer’s Clubs that offer consistent savings to members.  The best example of a Buyers’ Club---check out Practicon’s Premier Rewards Program and receive 10% off all orders every day plus special discounts for members only throughout the year plus Visa gift card points that add up to extra savings.