{"id":3044,"date":"2025-09-25T11:40:16","date_gmt":"2025-09-25T01:40:16","guid":{"rendered":"https:\/\/software.covetrus.com\/apac\/?p=3044"},"modified":"2025-09-25T11:42:10","modified_gmt":"2025-09-25T01:42:10","slug":"your-vet-clinics-hidden-profit-centre-84000-per-vet","status":"publish","type":"post","link":"https:\/\/software.covetrus.com\/apac\/veterinary-insights\/article\/podcast\/your-vet-clinics-hidden-profit-centre-84000-per-vet\/","title":{"rendered":"Your Vet Clinic\u2019s Hidden Profit Centre, $84,000 per vet"},"content":{"rendered":"<p><span style=\"color: #021660;\">In our fourth episode, we tackle one of the biggest hidden costs in veterinary practices: poor inventory management. Tania shares how inefficiencies like daily ordering, excess backstock, and wasted staff time can drain profits, and what clinics can do to turn it around. <\/span><\/p>\n<p><span style=\"color: #021660;\">From tracking the right metrics to leveraging your PMS and involving the whole team, this episode is packed with practical tips to make inventory work for your practice, not against it.<\/span><\/p>\n<p><iframe title=\"YouTube video player\" frameborder=\"0\" height=\"315\" data-src=\"https:\/\/www.youtube.com\/embed\/Zf102caICL0?si=bY7orKCdrPPdooH3\" width=\"560\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" allowfullscreen=\"allowfullscreen\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" class=\"lazyload\" data-load-mode=\"1\"><\/iframe><\/p>\n<p><iframe style=\"border-radius: 12px;\" frameborder=\"0\" height=\"152\" data-src=\"https:\/\/open.spotify.com\/embed\/episode\/6QWidxBgz8XfymwBFd88a2?utm_source=generator\" width=\"100%\" allow=\"autoplay; clipboard-write; encrypted-media; fullscreen; picture-in-picture\" allowfullscreen=\"allowfullscreen\" data-testid=\"embed-iframe\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" class=\"lazyload\" data-load-mode=\"1\"><\/iframe><\/p>\n<h2><span style=\"color: #021660;\">Key Takeaways<\/span><\/h2>\n<p><span style=\"color: #021660;\">1. <strong>Poor inventory management is costly for veterinary practices<\/strong><\/span><br \/>\n<span style=\"color: #021660;\">Inefficiencies such as daily ordering, wasted staff time, margin leakage, and holding excess backstock can cost practices up to $84,000 per vet per year1. Beyond financial loss, poor inventory management reduces time available for patient care and client service, clinics see 3-5 hours per week wasted. If your team are spending time four days a week ordering and unboxing orders, this is time wasted that could have been better spent on revenue-generating activities and looking after patients. Tania recommends one primary order per week to drive efficiency. <strong><span style=\"color: #27bdbe;\"><a style=\"color: #27bdbe;\" href=\"https:\/\/vet-stock-saver.lovable.app\/\" target=\"_blank\" rel=\"noopener\">See how much you could save by improving your inventory management processes with our calculator<\/a><\/span><\/strong>.<\/span><\/p>\n<p><span style=\"color: #021660;\">2. <strong>Tracking the right metrics is critical<\/strong><\/span><br \/>\n<span style=\"color: #021660;\">Understanding key metrics such as stock turns, slow-moving\/obsolete\/backstock (SLOB) items, and the true cost of goods (including rebates and discounts) is critical. Practices should develop clear procurement guidelines and review their top 100 items regularly to stay efficient and profitable.<\/span><\/p>\n<p><span style=\"color: #021660;\">3. <strong>Use cyclical stock takes instead of big annual counts<\/strong><\/span><br \/>\n<span style=\"color: #021660;\">Rather than doing bulk end-of-year stock takes, small daily or weekly cycle counts (5\u201310 items at a time) are more effective. This approach improves data accuracy, picks up missed billing early, and helps move practices toward automated ordering.<\/span><\/p>\n<p><span style=\"color: #021660;\">4. <strong>Leverage your practice management software to reduce errors<\/strong><\/span><br \/>\n<span style=\"color: #021660;\">Veterinary teams often underutilise their practice management system (PMS) and related tech tools. Using barcode scanners, stocktake apps such as the upcoming Covetrus Ascend Extend app, and pill-counting tools reduces human error, while regularly running PMS reports (e.g., stock turns, negative stock) helps detect problems early and protect margins. The integrity of the data inside your PMS is critical and should be reviewed regularly.<\/span><\/p>\n<p><span style=\"color: #021660;\">5. <strong>Share responsibility and keep training the team<\/strong><\/span><br \/>\n<span style=\"color: #021660;\">Inventory management should be a team effort, not just one person\u2019s job. Training staff on both the fundamentals of inventory and how to apply them in the PMS builds resilience if key staff leave. Provet\u2019s Crampton Consulting Group (CCG) also have deep experience in supporting practices with inventory management best practice and audits. Practices should also stay proactive by maintaining strong supplier relationships and keeping up with evolving technologies.<\/span><\/p>\n<p><span style=\"color: #021660;\">Source<sup>1<\/sup> <span style=\"color: #27bdbe;\"><strong><a style=\"color: #27bdbe;\" href=\"https:\/\/www.provetccg.com.au\/\" target=\"_blank\" rel=\"noopener\">Crampton Consulting Group<\/a><\/strong><\/span>.<\/span><\/p>\n<p><span style=\"color: #021660;\">Resources:<\/span><\/p>\n<p><span style=\"color: #27bdbe;\"><strong><a style=\"color: #27bdbe;\" href=\"https:\/\/www.provetccg.com.au\/business-improvement\/inventory-audit\/\" target=\"_blank\" rel=\"noopener\">CCG inventory management audit and training<\/a><\/strong><\/span><\/p>\n<p><span style=\"color: #27bdbe;\"><strong><a style=\"color: #27bdbe;\" href=\"https:\/\/www.provetccg.com.au\/insights-hub\/mastering-inventory-accuracy\/\" target=\"_blank\" rel=\"noopener\">CCG\u2019s top 10 recommended inventory management strategies<\/a><\/strong><\/span><\/p>\n<p><strong><span style=\"color: #27bdbe;\"><a style=\"color: #27bdbe;\" href=\"https:\/\/vet-stock-saver.lovable.app\/\" target=\"_blank\" rel=\"noopener\">Inventory management savings calculator<\/a><\/span><\/strong><\/p>\n<p><span style=\"color: #021660;\"><a href=\"https:\/\/software.covetrus.com\/apac\/veterinary-solutions\/ascend-cloud-veterinary-software\/\" target=\"_blank\" rel=\"noopener\"><strong><span style=\"color: #27bdbe;\">Covetrus Ascend<\/span><\/strong><\/a>, the modern cloud-based veterinary practice management software with a dedicated stock control app<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In our fourth episode, we tackle one of the biggest hidden costs in veterinary practices: poor inventory management. Tania shares how inefficiencies like daily ordering, excess backstock, and wasted staff&#8230;<\/p>\n","protected":false},"author":123456827,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[65],"tags":[],"class_list":["post-3044","post","type-post","status-publish","format-standard","hentry","category-podcast"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.8 (Yoast SEO v27.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Your Vet Clinic\u2019s Hidden Profit Centre, $84,000 per vet<\/title>\n<meta name=\"description\" content=\"From tracking the right metrics to leveraging your PMS and involving the whole team, this episode is packed with practical tips to make inventory work for your practice, not against it.\" \/>\n<meta name=\"robots\" content=\"index, follow, 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