Keeping your dental practice inventory in good shape requires knowing what not to do. Here are common inventory management mistakes to avoid for dentists.
In 2019, there were more than 200,000 dentists working in the US alone.
That’s a lot of dentists, all wanting access to the same stocks and supplies.
Keeping on top of your inventory is vital if you don’t want to waste money unnecessarily. Unfortunately, there are some common mistakes that are made all too often.
Read on as we look at some inventory management mistakes you need to avoid.
1. Poor Demand Prediction
A classing mistake that dentists make when it comes to inventory management is to get the predictions for demand wrong.
If you don’t have a good idea of what the demand for your inventory is going to be, you’ll never be able to make the right decisions. It doesn’t have to be rocket science; you can make good predictions based on historical data.
2. You Put the Wrong Person in Charge
You’d be amazed how often dental practices put someone in charge of inventory that doesn’t have the requisite experience or knowledge.
It’s totally unreasonable to expect someone who doesn’t have the right training to be able to manage inventory without any mistakes. That doesn’t mean you need to hire someone specifically for the role, but whoever is in charge should be given the appropriate training.
With modern dental inventory management solutions, it’s easier than ever for the right person with the right knowledge to perform the role perfectly.
3. Relying on Purchase Price
A classic mistake of dental inventory management is to focus solely on the purchase price when making decisions.
The trouble with this approach is that there is much more to consider. You need to factor in things such as lead times, minimum quantities, payment lead times, the reliability of the suppliers and much more.
It’s no good just going with the cheapest supplier if they’re unable to get you the stock when you need it.
4. Manual Management
If you’re in charge of inventory, it can be tempting to want to do everything yourself. That includes try to keep on top of inventory manually.
This can quickly lead to issues. Not only are you liable to make mistakes, but you’re also likely to wear yourself out trying to keep on top of everything.
Technology is there to help you. It can allow you to scan stock in using bar codes, keep track of implant expiry dates, alert you when stock levels are low and much, much more.
5. Not Checking Inventory Frequently Enough
If you’re still doing everything manually, then it’s highly likely that you’re simply not checking the inventory frequently enough. It’s not surprising; it’s virtually impossible to do this unaided.
The good news is that by using a dental inventory management solution, you can keep track of all of your inventory much more easily, meaning that you’ll never have problems with being unaware when things are running low.
With stock level alerts, you’ll always be ready to take action in plenty of time.
Don’t Make these Inventory Management Mistakes!
If you want to avoid these inventory management mistakes, then we’re here to help.
Sowingo is a cloud-based dental inventory management solution that enables your practice to purchase supplies, track all inventory and monitor supply levels. It can help you reduce unnecessary spending by helping you to track inventory levels and providing stock alerts.
From inventory management to purchase orders to spend and usage reports and more, our speciality is helping your dental practice stay organized. For more info on our product, feel free to book a demo so our sales team can answer all your questions.