Practice Inventory Health Check Please download this form and fill out in Adobe Acrobat Reader. Free Acrobat software is available HERE Alternatively, print out and mark by hand.
Visual Merchandising OPPORTUNITIES
YES
NO
Does your product layout supports the flow of the patient dispensing process?
YES
NO
Does your practice have the X factor, or something that truly engages patients?
YES
NO
Are your frames displayed in such a way that they are segmented into easy to identify groups? (eg: brands, colour, price)
YES
NO
Does your gender allocation of display frames reflect the gender split of your sales?
YES
NO
NOTES
Score: ACTION
‘Yes’ score less than 3 – suggested action is:
> Refer to Pricing Strategy, Product Layout and Practice Pricing
INVENTORY MANAGEMENT GUIDE
> Download Frame Style Guide.
FRAME STYLE GUIDE
Mix recommendations in the Inventory Management Guide.
Product Mix OPPORTUNITIES
YES
NO
Does your product mix offer logical price progression?
YES
NO
Does your current product mix reflect your patient demographic?
YES
NO
Do you have a process to identify styling or pricing gaps in your current product offer?
YES
NO
Does your brand mix give you good cross selling opportunities (eg. Are you able to offer alternative styles to a patient across price points?)
YES
NO
Are you referring the frame style guide to help you identify gaps in styling and pricing?
YES
NO
Do I have too many brands offered at the same price/ style?
YES
NO
Could you identify your 3 poorest selling brands?
YES
NO
NOTES
Score: ACTION
‘Yes’ score less than 5 – suggested action is:
> Refer to Pricing Strategy, Product Layout and Practice Pricing
INVENTORY MANAGEMENT GUIDE
> Download Frame Style Guide.
FRAME STYLE GUIDE
Mix recommendations in the Inventory Management Guide.
Practice Inventory Health Check continued
Stock Control OPPORTUNITIES Is there a dedicated product decision-maker in practice who has single accountability? Is there a budget or process in place to track monthly spend on frame purchases? Do you know what margins you should be achieving across different price points? Is the total number of units on hand NOT more than 10% above your frame display capacity (few units in draw)? Do you know how many frame/sunglass units you currently have in practice? Do you replenish best sellers other than Supply & Fit models on a regular basis?
YES
NO
YES
NO
YES
NO
YES
NO
YES
NO
YES
NO
NOTES
Score: ACTION
‘Yes’ score less than 4 – suggested action is:
> Refer to Pricing Strategy, Product Layout and Practice Pricing
INVENTORY MANAGEMENT GUIDE
> Download Frame Style Guide.
FRAME STYLE GUIDE
Mix recommendations in the Inventory Management Guide.
Buying Procedure OPPORTUNITIES
YES
NO
YES
NO
YES
NO
YES
NO
YES
NO
YES
NO
YES
NO
NOTES
Are all you current supplier relationships supportive and flexible? Do you have a process for reviewing your frame stock (quantity, age, brand mix etc) regularly? Do you know which brands have the poorest margin and why you continue to range them? Do you have a range plan to help with planning brand mix and stock levels? Is there no aged stock in the practice more than 12 months old? Do you have a clearance strategy to move obsolete stock or brands you are no longer ranging?
Score:
ACTION
‘Yes’ score less than 5 – suggested action is:
> Refer to Buying Process & managing aged stock
INVENTORY MANAGEMENT GUIDE
> For a clearance campaign of aged stock in the practice refer
CASH RECOVERY - PROMARKET
> To understand how to better use ProSupply, refer to tutorials
PROSUPPLY TUTORIALS
recommendations in the Inventory Management Guide. to Cash Recovery campaign in ProMarket. in our ProSupply portal.
We’re here to help
ProVision staff are here to help with any questions you have. Speak to a member of the ProVision team via Live Chat for on-the-spot support.
LIVE CHAT