Count On It: Using Inventory Lot Numbers for Greater Efficiency
Effective inventory management is integral to maintaining a seamless veterinary workflow, but it’s a skill that requires continual refinement. Inventory lot numbers are a simple way to master your inventory and manage your supplies. Shepherd Veterinary Software’s automated inventory tracking and reporting features make managing inventory lot numbers as easy as one, two, click.
What are inventory lot numbers?
Inventory lot numbers are unique identifiers assigned to groups of products. Lot numbers allow purchasers to track and manage items, rotate stock, and comply with regulations. Lot numbers may be assigned by the manufacturer during production or by the purchaser when the inventory arrives.
Why should I use lot numbers for inventory management?
Using inventory lot numbers as part of your inventory management system provides greater control and oversight of the products you receive, leading to widespread benefits throughout the practice. Such advantages include:
- Greater patient safety — Inventory lot numbers provide veterinary practice owners and managers with better control of their purchases from the moment the order is placed to when the product is used or dispensed. This level of control is especially important for medications, vaccines, and pet food, where tracking lot numbers ensures patient safety and prompt responses to product recalls.
- Precise ordering — Recording and tracking lot numbers through your inventory management software improves the cadence and accuracy of your orders to minimize waste and ensure the availability of necessary supplies.
- Simplified compliance — Entering new lot numbers into your inventory management software provides detailed records of product usage, making it easy to comply with controlled substance regulations and rules governing other, similarly restricted items.
Track and manage inventory lot numbers with ease
Shepherd Veterinary Software makes it easy to incorporate new lot numbers into your current inventory strategy:
- Record or create new lots when you receive inventory — Assign lot numbers according to the product lot or expiration date. This can be done directly from the purchase order screen as you check in an order.
- Confirm the proper lot number when prescribing, dispensing, or counting inventory — When more than one lot number exists in your inventory, drop-down boxes and pick lists allow you to select the correct number for an active product.
- Save time when logging non-controlled items — Shepherd simplifies item selection by automatically selecting the oldest lot for non-controlled inventory items, ensuring your stocking method adheres to best practices and boosts your team’s efficiency.
- Use lot numbers to perform inventory counts — For an additional layer of detail, view inventory counts, see count status by product lot number, and easily add unrecorded lots directly from the counting screen.
Inventory lot number best practices
Keep your system running smoothly by training your team on the basics of inventory management. This includes:
- Labeling products — Consider labeling in-house inventory with the appropriate lot number. Simple visual signage helps team members follow the system and supports accurate record-keeping during busy times.
- Assigning tasks — Appoint select team members to unpack and log inventory to prevent missing or unreported items.
- Performing regular audits — Monthly and quarterly audits are the best way to verify lot numbers and stock levels and identify potential software discrepancies.
- Practicing a first in, first out (FIFO) system — Train team members to use older stock first to reduce the waste and potential danger associated with outdated products.
“In” with inventory lot numbers
Entering lot numbers adds a step to your inventory management routine, but investing a few extra minutes with user-friendly software can provide an enormous return. With Shepherd, you can enjoy accurate, easily managed, well-stocked, and low-waste inventory.
Shepherd Veterinary Software was created by a veterinarian with the belief that veterinary professionals deserve joy. Our intuitive design, automated features, and powerful integrations streamline daily tasks and help you take home more stories instead of stress.
Schedule your free demo and discover how Shepherd can benefit your practice.
