Denka’s Terry Ashmore discusses: “The price of profitability”
The cost of high-quality dental supplies can be reduced to help increase practice profitability, which is key to ensuring your business remains financially stable. This involves eliminating wasteful processes, improving efficiency, and optimising your dental supply chain. There are some measures you can employ in order to do this effectively.
It is essential that you designate one member of staff as the only person in charge of ordering supplies within your practice. This eliminates confusion among the dental team and ensures that you are not placing multiple orders for the same product. Moreover, they will be in the best position to make suggestions on how you can improve the efficiency of inventory management within the practice.
There is nothing more frustrating than going into the supply room and not being able to find what you seek because it is unorganised. If necessary, have the entire inventory labelled and documented to make it clear to everyone what is stored where, particularly if they are looking for something specific.
It may be worth stocking each operatory with a small quantity of supplies to ensure that every member of staff has what they need to hand on a daily basis. You will also be able to monitor directly how much product is leaving the supply room, so that you can replace stock when it starts to run low.
It is important that you avoid waiting until the last minute to reorder supplies. By planning ahead for upcoming appointments and ordering in plenty of time, you will save on the cost of rush shipping fees. Bear in mind that there are also certain times of the year when supply companies offer special discounts.
Being aware of these deals and holding out on your purchases until then will enable you to take advantage of extra savings. This is also a good time to plan for the future by purchasing a little extra on essential supplies, in order to tie you over until the next time you spot a bargain.
It is worth taking the time to consider who you are sourcing supplies from. Building a good relationship with one reliable dental supply company may be more beneficial than co-ordinating with several vendors. By dealing with a single company you can not only avoid ordering more than you actually need, you could also benefit from a variety of different services all under one roof. Some vendors offer exclusive discounts for the volume of stock you seek.
Others may provide professional advice and guidance on how best to optimise your ordering process. Stocking over 1,000 high quality dental products at competitive prices, Denka offers access to the intuitive MyDenka supplier portal.
Practitioners are better able to order and maintain stock of essential items and specialist equipment in a more cost-effective way. This can ultimately help to improve profitability, enabling practices to provide a higher standard of care.