The future of veterinary inventory managementMarch 23, 2018Running a veterinary hospital is no easy task—managing staff, client experience, finances, and marketing, not to mention delivering quality medical care to patients, are top of mind. In general, inventory management gets pushed aside. Having managed veterinary hospitals large and small, I certainly understand how inventory can be neglected. During my career, the priority in managing inventory was to keep the hospital stocked, with little regard to controlling costs. If we ran out of a medication or a product, I would get an earful. Over the past five years, veterinary medicine has changed. The cost of goods, overhead expenses, and, especially, wages are increasing at an unstainable rate. Minimum wage laws and "living wage" campaigns across the county are touching every aspect of veterinary medicine. These costs will continue to rise. Human healthcare went through a similar transition two decades ago. The answer to reducing costs was process improvement. Today most large healthcare systems have invested in Lean, Six Sigma, or some other form of Kaizen (continuous improvement) programs. The veterinary industry would be wise to follow this lead. Although change is difficult, the good news is human healthcare has already started this journey. Most of the methods, processes, …
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