Data and analytics are common terms in today’s business environment. More companies are basing their actions on quantitative analysis. Instead of making decisions quickly, based on instinct (which can be costly), they are using data to understand the best course of action.
Many dental and medical offices manage their inventory ordering process on an ad-hoc basis. Often supplies might run low before someone in the office takes notice. When they do, there is a wave of chaotic activity to get the supplies that are needed. This costs your office (business) in two main ways:
- Monetarily - Last minute orders can be costly and put your business in the position of missing opportunities on better prices and sales, and require additional shipping costs
- Productivity - Your team is busy filling that order, instead of chair side with a patient.
This time spent sourcing supplies could have been spent helping patients and on other areas of the practice. At Sowingo our cloud based inventory management system has built-in analytics to help you:
- Understand when supplies are running low
- Which vendor you last ordered from and how much you paid
- Other items ordered from the vendor, and how much business you do with them - important negotiating information.
Dentists and medical doctors spend a lot to run and maintain their practice. Inventory is one of the most costly and essential items in their office. How it is managed is a key success factor to the overall business. Take a step back to ask yourself if you are managing your inventory to its full potential. If not let us help. Try Sowingo today and start transforming your business.
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