Common issues with inventory management

In charge of managing inventory at a dental or medical clinic? Then you may know the pain of finding the best method to keep all stock maintained. Read on to learn about solutions to common inventory issues you may face. dental supplies

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An excessive amount of files

Although spreadsheets can be an efficient way to manage inventory, the constant need to manually update them potentially causes issues to arise. Without a concise method of keeping spreadsheets organised,  mistakes in which file is the latest version can be a common issue.  

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Grouping inventory 

To keep a consistent track of all inventory, as stock is processed in the business it should be grouped accordingly. An effective way of grouping inventory is dividing products into categories such as: expensive items, middle-ranged items and low cost items. 

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Inaccurate original estimations

For inventory to be maintained correctly, original forecasts of product needs must be accurate. To ensure these estimations are precise, historical data such as past sales figures, projected growth and future marketing efforts should be analysed. 

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Lack of counting stock physically

Errors from inventory management stem from a lack of correct stock maintenance. To ensure all inventory data is accurately entered in the system, stock should be consistently audited periodically. 

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Stock management is an integral part of running a business, ensure you remain in control of your inventory through recognising these issues!