There are so many different factors that come along with owning a dental practice. Maintaining healthy relationships with your patients, keeping costs low, encouraging your staff to be themselves and get comfortable within the business, and so much more.
But one of the parts of owning and operating a dental practice that many don’t discuss is keeping an eye on your dental supply inventory. It is often overlooked and not given the attention it needs. So, we are here to give you some tips on how to effectively and successfully manage your dental supply inventory.
Use reliable equipment
When it comes to managing your inventory, you want to be sure that you are using products that are reliable, affordable, and worth your money. It is easy to fall into the trap of buying cheap, mediocre equipment, but in doing so you are sacrificing your business’ integrity.
Therefore, you want to be sure you are investing in worthy inventory in all aspects, from dental bib clips to X-ray machines to cotton rounds. When you put the right focus on your inventory, you are ensuring that you are giving your patients the quality they deserve.
Stick to a budget
It is easy to overorder and stock up when you feel your supplies are running low, but it is vital to stick to a budget when it comes to your inventory. Not only will sticking to a budget make it so you are being frugal and money-conscious, but it also helps you to not over-order things that will become outdated within a few months.
If you overorder, you are limiting yourself and your practice in many different ways, and you are closing yourself into a box. Not only does this leave potential for your business to suffer, but it could reflect onto your patients, too. And trust us when we say no one wins in situations like that.
Keep up-to-date on inventory items
If you don’t already have someone assigned to inventory, the time is now to give someone that designated job. When you have one person assigned to this role, you are eliminating room for multiple orders, underordering, etc.
If necessary, make your inventory task force a team of two to three people. Then, if someone needs to call in sick or go on vacation, you will be covered. But be sure that the small inventory team has specific days they are in charge of inventory. This helps to maintain order and structure, and keep them occupied and happy in their job.
Analyze your usage and create order triggers
Once you have your inventory team on board and in place, let them use their creativity to design digital tracking systems and order triggers for future orders. When they are able to use their resources and collaborate on something, they are more willing to own it as a unique special project. This can help to ensure they have done their best to be as successful as possible.
Technology isn’t only beneficial for the travel industry and retail; it can also be pivotal when it comes to creating an effective inventory system for your dental practice. So let your inventory team do what they think is best as far as utilizing technology for the inventory process.
Take a step back
Taking a step back is always a good idea in business, and especially within the medical field. Giving yourself space and time to think of fresh new ideas can be beneficial for all aspects of your business. Consider ways to optimize your social media impact, your patient relationships, and even your inventory systems.
Once you and your team have taken a step back and figured out how to best manage your inventory, don’t be afraid to send them a little something to show how appreciative you are of all their hard work.
Each dental practice is different, so be sure to work toward finding what works best for you and your specific dental practice.