Ep. 56 | Don’t Forget to Look at Your Revenue + 4 Other Key Takeaways from This Week

In this episode, Nicole shares 5 different things that she learned last week about managing inventory. During her 1 on 1 sessions with clients she noticed some themes and wanted to share them.

EPISODE HIGHLIGHTS

  • The inventory self-assessment is live vetlogic.co/assessment
  • If you feel like you’re doing everything right, then take a look at your revenue.
  • Looking at your profit and loss statement can be helpful.
  • Having a high cost of goods doesn’t necessarily mean that you are overspending on inventory.
  • Are you missing charges? Are you discounting something heavily?
  • Not many inventory managers are receiving proper training.
  • If purchasing a practice is on your radar, be sure to get a good look at the inventory system as well as the current inventory. Look for expired product and excess.
  • It is important to evaluate your products individually.
  • Be sure that each item has the proper margin.
  • It’s important to separate your inventory versus service or in house lab items.
  • It’s important to consider how packages are set up in tracking and pricing.
  • Be sure that service packages have a way to increase in price if the cost of an item goes up.

MEET NICOLE CLAUSEN

Hi, I’m Nicole Clausen and I started Veterinary Care Logistics with the dream of changing the way we manage inventory together.

With 14+ years of experience in the veterinary industry, I have worked in several positions from receptionist to operations manager for several different hospitals.

While no two practices are ever just alike, I noticed one common problem: a lack of inventory management and control.

If you are tasked with managing inventory, I understand first-hand the challenges you face.

When I first started managing inventory, I struggled with the same things that many of my client’s experience: a to-do list up my chin and a pretty persistent case of imposter syndrome. But jolting awake in the middle of the night, wondering if you remembered to order rabies vaccines is no way to live.

I knew something had to change.

Veterinary Care Logistics was born out of the demand by several industry leaders to utilize my inventory system as a model throughout the country. Whenever I tell people what I do, I usually get a puzzled reaction: “Why would you want to do that? I hate inventory!” Truthfully, I love the puzzles, the numbers, and the strategies of inventory. But what really sets my soul on fire is creating lightbulb moments.

New clients who often come to me tell me that they feel like they’re drowning or that they think they’re just not cut out for this. Then once we start working together, putting systems in place, there’s always, always an “ah-ha” moment.

And at that moment, a shift occurs. You know exactly what you need to do. Your confidence rises. And the confusion, overwhelm, worry all begin to melt away like a bad, backordered-rabies-vaccine dream.

These are the moments I live for.

LINKS + RESOURCES MENTIONED IN THE EPISODE

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