Managing Inventory

Duration: 4 hours

One of the key factors that affect whether a patient buys your product is your frame inventory. Good management will allow you to present your inventory effectively, professionally, and affordably. In turn, you will be able to make more sales for better profits. The Frame Inventory Management training program teaches proven techniques to teach you how to create a custom plan that works for your individual practice.

Part 1  Planning

  • Keeping track of your inventory.
  • Community and city demographics
  • Analyzing your competition.
  • Choosing an Inventory Manager.

Part 2 Stock

  • Product Pricing Strategies
  • Calculating return rates – how much are they costing your clinic?
  • How to move dead and overstock items.
  • Product mix and quantity.
  • Using sales to plan your frame inventory.
  • Calculating turnover ratios.

Part 3 Sourcing

  • Brand recognition.
  • Vendor selection; identifying preferred and secondary vendors and space allotment.

Part 4 Display

  • Organizing a planogram.
  • Loss Prevention strategies
  • Merchandising your dispensary.
  • Branding your practice.

These steps allow us to effectively plan any changes to the current inventory and implement them. We will be able to define the standards that will be used in a manual. This manual will create consistency and understanding among all employees and make training new additions to the team easier.

Follow up is an important step with this training; we will be available for any questions as you continue this process.

Inventory adjustments take time.  It may take up to a year to understand and analyze your inventory, clean out old stock through markdowns and returns, prepare a plan and execute it and get everything in place and organized. Once you start it gets easier.  Be patient, make a plan and stick to it. 

To schedule the Build a new you training in your office please contact our practice whisperer.