Using Purchase Analytics

Analytics information is right at your fingertips…use it to benefit your organization!

As many of you already know, inventory is a huge expense for veterinary practices, often consuming 20% or more of practice revenue. In order to maintain a “bigger picture” of your inventory, and optimize your purchasing, you should consider analyzing your purchasing data and history.

Some veterinary organizations will spend hours compiling inventory purchasing data on excel sheet after excel sheet… But with Vetcove’s Purchase Analytics feature, you don’t have to waste any more time! Analytics information is automatically added to your profile for each and every vendor you add to Vetcove.

Vetcove’s interactive charts will help you to visualize data and trends pertaining to your suppliers, manufacturers, and items. The provided graphs can help you to understand how your purchasing habits have changed over time, and how much volume you’re placing with each vendor — this can help you see the general timing of your orders, and we all know that timing is key when it comes to inventory!

At the most granular level, you can look at item-based data to see purchase volume and price history for specific items — this is great if you want to see what percentage of your inventory costs correspond to certain items. Not to mention, the graphs and tables are great to show your colleagues at meetings to give them a sense of your organization’s order history.