Are Antiquated Inventory Processes Bleeding Your Bottom Line Dry?

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When it comes to running a small business, the assumed effectiveness of existing systems can be a real threat to the bottom line. Even systems developed a few years ago are being made obsolete by technological innovation. In orthodontics, the threat of assumed effectiveness often manifests itself in the ordering and inventory systems many practices currently employ.

There are many reasons for this. Between chasing promotions, the challenge of forecasting and, let’s face it, sales representatives who are by rewarded through commissions, it’s easy for the average size practice to wind up with tens of thousands of dollars of losses from inventory obsolescence. One prominent groups practice admitted (in confidence) that they wind up eating a quarter of a million dollars in unused inventory each year! The threat to the bottom line is real.

Of course, on the flip side of every threat is opportunity and this is no different.

Practices that are willing to challenge the status quo can put themselves at a considerable advantage over the competition. Running out of brackets, bands and consumables is simply unacceptable. By harnessing the power of automated, online ordering, you can implement an infinite shelf approach to inventory management. That is, everything is automatically replaced as it’s being used.

That’s the idea behind MidAtlanticOrtho.com. The revolutionary e-commerce marketplace is so much more than online ordering. It provides you with a user friendly way to place, track, and store all of your purchases and ordering history with just a click of a button. By moving away from the commission-based and/or deal-driven purchasing, it puts the practice in complete command of their supply chain.

Click here to discover how we can help you eliminate the waste in your practice’s supply chain.

Visit us at MidAtlantic Ortho, LinkedIn, Twitter, Facebook, Instagram and YouTube.

 

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