Show notes
"You don't fix a $30,000 problem with a discount." Connect With Our SponsorsGreyFinch - https://greyfinch.com/jillallen/A-Dec - https://www.a-dec.com/orthodonticsSmileSuite - https://getsmilesuite.com/ Summary In this episode of Hey Docs!, Kira Woods shares her journey in creating UpTracker, a web-based platform designed to improve inventory management in orthodontic practices. She discusses the importance of understanding both macro and micro aspects of inventory management, the evolution of systems from manual tracking to technology-driven solutions, and the need for customization based on practice size and needs. Kira emphasizes the significance of purchasing habits and the often-overlooked process of verifying vendor invoices as critical components of effective inventory management. The discussion also covers common areas of overspending, particularly in bonding materials and disposables, and offers strategies for startup practices to establish a solid foundation for inventory management. Connect With Our Guest UpTracker - https://www.up-tracker.com/ Takeaways Kira Woods started Uptracker to address inventory management issues.Doctors need to see both macro and micro inventory data.Many practices rely on one staff member for inventory management.Purchasing habits can significantly impact supply spending.Invoice verification can lead to quick returns on investment.Clerical errors in invoices are common and costly.Understanding true costs includes more than just product prices. If you don't check invoices, you're agreeing to whatever they decide to charge you.The right amount to spend right now is crucial for staying on goals.Incentivizing staff can lead to better budgeting outcomes.Bonding materials can be a significant area of overspending.Startups should prioritize visibility in inventory management.The goal isn't less inventory, it's smarter inventory.Chapters 00:00 Introduction04:58 Why Inventory Gets Ignored06:21 Macro vs Micro Inventory08:52 From Sticky Notes to Scanning15:02 Customizable Inventory Strategy16:26 Purchasing Habits and Spend24:23 Verifying Vendor Invoices29:57 Real Time Budgeting Basics32:56 Staff Incentives And Culture34:29 Common Spend Leak Examples37:50 Startup Inventory Playbook41:34 Cross Training And Controls44:40 UpTracker Contact Info Episode Credits: Hosted by Jill AllenProduced by Jordann KillionAudio Engineering by Garrett LuceroAre you ready to start a practice of your own? Do you need a fresh set of eyes or some advice in your existing practice?Reach out to me- www.practiceresults.com. If you like what we are doing here on Hey Docs! and want to hear more of this awesome content, give us a 5-star Rating on your preferred listening platform and subscribe to our show so you never miss an episode. New episodes drop every Thursday!
