Every single person who works in your practice has a role to play in managing inventory, whether it’s logging a controlled drug correctly, displaying a product in the lobby, or accurately charging for the sale of an item.
Everyone’s responsible. However, to ensure consistency and reduce confusion, we strongly recommend designating an official inventory manager.
A dedicated inventory manager brings a strategic edge, helping to keep everything from pharmaceutical supplies to essential equipment organized and accessible. More than just “counting stock,” this role involves forecasting demand, tracking key metrics, managing vendor relationships, and ensuring that every team member follows set inventory protocols.
This article will walk you through the essential skills, potential candidates, and core responsibilities of a veterinary inventory manager, guiding you in choosing the right person for this critical role.
Key takeaways
An inventory manager optimizes inventory processes, supporting efficient operations and profitability.
Key skills include big-picture thinking, fiscal responsibility, and familiarity with veterinary products.
Choosing the right candidate depends on practice needs, team dynamics, and individual strengths.
Why you need an inventory manager
An inventory manager plays a strategic role in optimizing a practice’s inventory to ensure efficient operations and profitability. They’re responsible for forecasting demand, controlling costs, and monitoring key metrics, as well as ensuring staff are complying with established inventory-related operating procedures. They also manage vendor relationships, negotiate prices with suppliers, and look for ways to leverage technology to optimize inventory management.
In larger practices, inventory can take a surprising amount of time (when done correctly, at least!), so it’s often a good idea to split responsibilities across the team. For example, a larger practice might have a dedicated pharmacy manager, retailer manager, and supplies manager, overseen by a primary inventory manager.
This has the added benefit of creating an extra layer of checks and balances, which helps minimize the risk of human error and shrinkage. It also ensures that the practice has sufficient resources in case of vacations or absences.
Regardless of practice size, it’s important to remember that inventory is a team effort. While the inventory manager might oversee the system, every staff member has a role in upholding inventory processes in their daily work.
Skills required to be an inventory manager
We’re just going to come out and say it: Not everyone is cut out to be a good inventory manager.
It takes the right balance of skills. In addition to being organized, thorough, and trustworthy, you also need to be familiar with a dizzying array of veterinary drugs and products, and have a holistic understanding of how inventory impacts the financial health of the wider business.
Here are a few key qualities to keep in mind when selecting an inventory manager:
Big picture thinking: Look at the overall operations and identify specific steps that align with the broader goals of the business.
Fiscal responsibility: Adhere to budgetary constraints, negotiate favorable pricing with suppliers, and identify cost-saving opportunities.
Attention to detail: Accurately track inventory levels, expiry dates, and orders.
People management: Encourage collaboration between team members, enforce procedures, and resolve conflicts.
Communication skills: Coordinate with suppliers and practice staff. Express complex ideas effectively through both written and spoken communication.
Technical skills: Proficiency with inventory management software, which can streamline the process and improve accuracy.
Flexibility: Be flexible with unexpected requests, taking priority over planned duties.
Familiarity with veterinary products: A good understanding of veterinary drugs, medical supplies, and equipment.
Potential candidates for an inventory manager
There could be a bunch of people in your practice who possess the above skills required to be an effective inventory manager. The responsibility often falls on one (or more) of the following candidates, each with their own set of advantages and considerations:
Practice owner
Pros: In small practices, the owner may be a good candidate to manage inventory. They have a vested interest in the financial health of the practice and can make strategic decisions aligned with long-term goals.
Cons: Practice owners tend to already have a bunch of responsibilities. Adding inventory to their list of duties can leave them stretched thin.
Practice manager
Pros: Practice managers are well-versed in the daily operations and financial aspects of the practice, making them capable of overseeing inventory effectively. They might take ownership of inventory but delegate a lot of the day-to-day activities to others.
Cons: Like owners, managers may already have a full plate of responsibilities, which could affect their ability to dedicate sufficient time to inventory.
Technician or assistant
Pros: Technicians and assistants often have hands-on experience with inventory and are familiar with product specifics.
Cons: While veterinary technicians excel in patient care, they may not have as much experience with the fiscal responsibilities and business strategy involved in inventory management.
Front of house
Pros: Front of house staff tend to be very familiar with daily operations and excellent multitaskers, making them capable of managing inventory effectively.
Cons: Balancing front-desk duties with inventory management can be challenging. Depending on their experience, some employees may not have a thorough understanding of drugs and other products, and may require additional training.
Choosing the right candidate depends on the specific needs of your practice, existing team dynamics, and individual strengths. While technical knowledge and organizational skills are important, so too is the ability to balance these responsibilities with their existing duties.
What does a veterinary inventory manager do?
Exactly what your inventory team is responsible for will depend on the size and dynamic of your practice. Generally speaking, responsibilities will fall into one of these four categories:
Client management: Ensure online orders are processed promptly, maintain standing and special food orders to prevent shortages.
Data management: Manage inventory codes, create and maintain bill codes, and process purchase orders through veterinary management software. The inventory manager may also handle price and product updates on the practice's website.
Financial management: Adhere to inventory budgets, negotiate pricing with suppliers, and propose special purchasing opportunities to enhance practice profitability.
Equipment and supplies: Order and manage pharmaceuticals, veterinary diet products, equipment, consumables, and supplies. Regular vendor meetings and meticulous inventory stocking and rotation to maintain operational efficiency.
Maintaining oversight
So, you’ve assembled an inventory team, they know what their responsibilities are, and everything seems to be going smoothly. That’s a good start - but it certainly doesn’t mean that you can completely wash your hands of your inventory.
Someone must maintain oversight to ensure everyone sticks to the procedures as prescribed. The practice manager (or, in smaller practices, the owner) should remain part of the checks and balances processes to ensure accuracy, compliance with budgetary constraints, and efficiency. For example, for added transparency and accountability, the practice manager or owner may wish to review invoices, purchasing decisions, and inventory reports.
Frequently asked questions
Why do veterinary practices need an inventory manager?
An inventory manager ensures efficient stock control, cost savings, and smooth daily operations, which directly support practice profitability.
What qualities make a good inventory manager for a veterinary practice?
Key qualities include organization, budget management, familiarity with veterinary products, and excellent communication skills to coordinate with suppliers and staff.
Who should be responsible for inventory management in a veterinary practice?
Common candidates are practice managers, owners, or experienced technicians, depending on practice size and each candidate’s workload and skills.
Can inventory management responsibilities be shared among multiple team members?
Yes, dividing tasks can be efficient, with roles like pharmacy manager or supplies manager reporting to a lead inventory manager.
How does an inventory manager benefit the veterinary team?
An inventory manager provides structure and oversight, reducing workload for other staff and ensuring everyone follows inventory protocols consistently.
Conclusion
Effective inventory management requires a strategic approach, meticulous attention to detail, and collaboration across the practice team. While selecting the right candidate for this role is crucial, it’s equally important to establish robust oversight mechanisms to maintain operational integrity.
Want to see how ezyVet can transform your inventory processes? Book a demo today!