Business Improvement Series | Inventory Management Week 4 - Maximising your Buying Power

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Maximising your Buying Power

Being part of ProVision means you have an opportunity to reduce the Cost of Goods Sold.

By supporting ProVision Preferred Partners you are not only getting the best price on goods but are supporting independent business owners and helping them to thrive in a very competitive market.

Supplier Choice and Relationships

Steven Johnston often refers to ‘The Ecosystem' within independent Optometry where all stakeholders depend upon each other to maintain a thriving industry sector.

Nowhere is this more evident than with the support and relationships you build with suppliers. Without each other, neither would exist, so it is important to build upon these relationships with clear and conscious communication. You lose by pushing for unrealistic deals or terms that put either party at an unsustainable risk. You win by choosing suppliers who have our success and existence as well as sustainability at the core of their intentions.

Additional value beyond price – There are a host of ways suppliers can support your business, including:

  • Marketing rebates
  • Instore and digital marketing material
  • Window displays
  • Style nights
  • Staff training
  • Competitions and Promotions

Trading Terms - Suppliers have different positions on rotation policies and can only make decisions based on ongoing viability. By managing stock carefully and systematically as a team, both parties can win. 

CLICK HERE TO VIEW SUPPLIER AGREEMENTS ON PROSUPPLY

Remain Profitable by using ProSupply 

With ProSupply you have access to the largest frame database in Australia complete with frame imagery, specifications and suggested retail pricing.

Your practice can use one password and one process to place frame-only and Supply & Fit orders for maximum convenience, reduce administration time, save on freight costs and attain a quicker turnaround. ProVision works daily to ensure that all the best-selling frame brands from our Preferred Supplier Partners are incorporated in ProSupply and Supply & Fit. With daily updates on all frames, ProSupply is well-positioned to be an incredibly valuable resource for all our practices

  • What does this mean for you? Supply & Fit frames are shipped directly from all your Preferred Supplier Partners to your preferred lab at no freight cost to you. 
  • How many Supply & Fit products are available to you? 19,000+ frames and growing! A significant milestone as this represents over 75% of our collective Supplier Partner offer.
  • Is the stock count on Supply & Fit frames up to date? The stock count for ALL Supply & Fit frames is updated daily.

Click on the video link to listen to ProVision Business Systems Manager, Andrew Parker as he explains the benefits of ProSupply and introduce you to the team behind the scenes.   

The video below will help to answer some of the common questions asked when using ProSupply. 

Need more help? Draw on our invaluable ProSupply support crew. Simply contact us during business hours via LiveChat at orders.provision.com.au, phone 03 8544 3900 or email orders@provision.com.au

Don’t just listen to us – See what your fellow Members say.

Wise Eyes Optometrists – Toowoomba
Place 10 Supply & Fit orders through ProSupply and you will never look back. 
+CLICK HERE TO READ MARK'S STORY

EyeCare Sunraysia – Mildura
Learn how ProSupply has done incredible things for the cash flow of this ProVision Member in Northern Victoria.
+CLICK HERE TO READ CLINTON'S STORY

RJK Optometry – Coffs Harbour
Like many of our members, RJK Optometry in Coffs Harbour was using the stock-ordering component of ProSupply until the Supply & Fit benefits were realised. 
+CLICK HERE TO READ CATHY'S STORY

CLICK HERE TO ACCESS PROSUPPLY

What to do now? 

Over the last four weeks, we have explored the topic of inventory management. If you missed any of this series about business improvement, the links are provided below. 

  • Week 1 - You have read about WHY you should manage your Inventory and explored the many benefits of you taking action to improve. You completed a health check of your Inventory Management.
    +CLICK HERE TO VIEW
  • Week 2 – We explored HOW to go about Improving your stock management and introduced you to the ProVision Inventory Management Guide with a toolbox full of available help.
    +CLICK HERE TO VIEW
  • Week 3 – We discussed the importance of proper planning and prioritising as well as tips for success and profitability.
    +CLICK HERE TO VIEW
  • Week 4 – Finally we examined how to maximise your buying power with Supplier relationships and ProSupply

Now is the time to act. From here you can:

  1. Revisit each week to catchup
  2. Read ProVision’s Inventory Management Guide
  3. Contact your Business Coach or Margarida, ProVision Member Relationship Executive for Essentials on mfaustino@provision.com.au or 0437 080 000

Building a Sustainable Business

Customers are continually placing greater value on socially and environmentally responsible businesses, and this call to action is only expected to continue to grow in the years ahead.

It’s important to consider what position you’ll take to ensure your patients see you as a business committed to ethical decision-making and sustainable practices. In response, ProVision created SustainPro – an online resource designed to build awareness and support the creation of a Sustainability Plan for practices. SustainPro is located on our ProVision website and will assist you in the following ways:

  • Explains the concept of sustainability and why it matters.
  • Sheds light on some of the optical industry’s challenges (practices and suppliers).
  • Provides insight into how an optical practice can build a Sustainability Plan that takes both practice staff and patients on the journey.
  • Examines what your supplier partners and ProVision are doing to support a sustainability position.
  • How you can leverage this activity to complement your own practice plan.

SustainPro is a valuable resource for any practice interested in starting (or continuing) their sustainability journey so discuss with your practice team and check it out!

CLICK HERE TO ACCESS SUSTAINPRO

Social Media Live - September 1 

We are so excited to invite you to our next Facebook LIVE session!

Register at the link below and join us on Wednesday, 1 September at 1:30pm to cover the top 2 topics that YOU choose below. You can shape the content we present from:

  • How to create the top 3 pieces of content you NEED on your page in Canva 
  • Boosting your page content in 3 easy steps 
  • Unlock 5 Instagram story hacks to drive engagement AND bookings 
  • 5 easy methods for never ever running out of content ideas
  • Stay in touch with patients: suggested content while the practice is closed 

Please vote now in the ProVision Private Facebook Group to secure the topic that you want to learn more about. We will answer any questions you have in the session and can't wait to see you there!

CLICK HERE TO REGISTER FOR SOCIAL MEDIA LIVE

Register Now for EOYHF Campaigns

Register for your Point of Sale now with delivery estimated at the end of September. ProMarket templates and your Campaign Resource Hub will be made available in early September.

Choose from 3 campaign themes featuring simple and direct health fund reminder messaging. Select from bold imagery to frames with personality, as well as stylised text-only options.

+ CLICK HERE FOR MORE INFORMATION

CLICK HERE TO REGISTER BY 31 AUG

ProMarket Print and Postage Pricing 

Due to an increase in postage and paper prices, all printed communications on ProMarket have increased by 4% - 6%. 

Refer to the update below for new print prices for the most popular printed products.

  • Letters (Standard & Recall) Were $1.56, now $1.62
  • Postcards (Standard & Recall) Were $1.56, now $1.62
  • Premium Letters Were $1.69, now $2.09
  • Premium Letter with Card Were $2.09, now $2.18
  • Birthday Cards Were $1.55, now $1.64
  • Various Flyers/Posters/Referral Pads etc have increased by 6%

Please note that all prices quoted do not include GST. 

CLICK HERE TO VISIT PROMARKET

Optomate Premier Touch Update

Monkey software announced Optomate Premier will cease on 31 December 2021. 

Until then all customers covered by our standard Maintenance Agreement receive a free upgrade to Optomate Touch. From January 1 2022, Monkey Software will continue to support customers covered by Software Maintenance using the Premier Series, although software updates will not be made available. Please contact the Monkey Help Desk on 1300 650 295 or email support@monkeysoftware.com.au for information about the upgrade process.

IMPORTANT: The Online Medicare & DVA component will cease working in March 2022 on Optomate Premier. The Optomate Touch Series supports the updated Australian Web Services claiming platform.

CLICK HERE TO CONTACT MONKEY SOFTWARE

Returning stock to Suppliers

A reminder to all members that any stock returns should be sent directly to the Supplier. 

ProVision has received goods in the past that are addressed with the Supplier name, however, the sender has used our postal address. Please check all returns are addressed correctly and clearly to avoid delays in Suppliers receiving your items.

As part of ProAccounts, ProVision’s Supplier Partners have committed to raising credit notes for returns within 5 days for frames and 10 days for lenses. To ensure your returns receive priority processing, it is important that you attach a ProVision returns sticker on the outside of your returns packaging. If this sticker is not attached to your return, this could delay the processing of your credit by over a week. If you require additional stickers, contact accounts@provision.com.au

CLICK HERE TO REQUEST RETURN STICKERS

Was this week's content helpful? Let us know at feedback@provision.com.au

 
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ProVision Eyecare Pty Ltd
92 Peters Avenue, Mulgrave VIC 3170
03 8544 3900
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