Inventory management doesn’t have to be a headache

By Marketing

31 March 2020 5 min read


Manage your veterinary inventory costs successfully by using up-to-date practices and the latest technology.

While it may not appear so at first glance, inventory is a critical component of any veterinary practice. It covers everything from medication and surgical consumables to the food and pet toys you sell. In fact, inventory is the second-highest cost in veterinary clinics.

Here are some of the most common misconceptions around inventory management and well as insights on how inventory management software, combined with comprehensive, specialist training, can help you stay on the right track.

Misconception #1: You don’t need inventory management software

You may think that tracking your inventory on a spreadsheet or logbook is sufficient; however, inventory management software is critical for veterinary clinics both large and small. An effective inventory management system can significantly increase your practice profitability.

An inventory management system keeps a more accurate record of incoming and outgoing inventory and notifies you when you need to re-order. Since it doesn’t rely on manual data entry, your stock level numbers are more accurate. This prevents your practice from running out of important stock items at critical moments.

Misconception #2: Ordering larger volumes of each item means we get the best price and we’re less likely to run out

While this may seem like a logical approach, it can lead to a lot of wasted stock, as medications or food reach their use-by date. They also take up valuable storage space. 

Misconception #3: I don’t need a strategy to manage my inventory

Like any effective practice process, you need a sound strategy to maximize inventory value and minimize cost. A poor strategy can lead to an excess of inventory and expired items, or too little stock, which translates into missed revenue opportunities and unhappy customers.