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What to Do with Out-of-Control Inventory Costs

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What to Do with Out-of-Control Inventory Costs

25 Oct 2019
Business Theater
Business
Drugs, medical supplies and food costs are some of the biggest expenses a practice incurs and these costs are increasing in most practices. What should the practice do if these costs are too high? First of all, it is important to drill deeper into the accounting and PIMS records to truly understand whether the costs are too high and WHY this is so. Secondly (and most importantly), changes need to be made in the practice to improve inventory efficiency and costs. Inventory control is sometimes seen as a boring and tedious task, but it can have a huge impact on your profitability and is actually one of the easier things to do well in a practice.
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Karen Felsted, President - PantheraT Veterinary Management Consulting

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