A new inventory management handbook – created by ProVision to help independent practices set appropriate buying and selling strategies, keep optimal stock at hand and minimise waste – is now available to download.
“A key strength of independent optometry is that practice owners and managers are free to respond to local patient requirements. With effective inventory management, practices can tailor their range to suit changing demographics, fashion trends and budgets,” the organisation said.
Designed to take the time, effort and guesswork out of optometry inventory management, this free resource includes easy-to-follow instructions to help optometry business owners:
- Select and maintain a range that reflects the local patient demographic
- Use visual merchandising to showcase frames and maximise sales
- Implement an effective pricing strategy with realistic margins
- Identify and clear aged products
- Adopt a buying strategy that minimises stock build-up
The Inventory Management Handbook is full of practical tips used by Australia’s largest network of independent optometrists. Download it now to design an effective range that generates sales.
Ms Kate Hall, ProVision’s national retail operations manager, will be hosting a workshop on inventory management to maximise profits at O=MEGA23 in Melbourne from September 8-10.
“Managing stock with a strategic approach directly contributes to growing profitability. By refining inventory management practises, practitioners can decrease stock holdings, improve product offerings, and make smarter buying decisions, ultimately boosting profitability,” she said.
Hall will be sharing practical strategies specifically tailored for optometry practices.
“We’ll dive into topics such as leveraging supplier partnerships, reducing aged inventory, creating a comprehensive range and buying plan, and simplifying ordering processes,” she said.
“The goal is to equip optometry practitioners with the knowledge and tools they need to optimise their stock management processes, ultimately elevating their practice’s profitability.”
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