Less Than Half of You Share Your Sales Figures With Your Vendors but Those Who Do Often View Your Rep Relationships as Partnerships

question

Do you or don’t you share sales/inventory figures with your vendors?

Yes: 46%

• I believe being open and honest with our vendors is important. I want them to know where they rank, what they can do to help us sell more product and how we’re doing in relation to previous seasons. Often reps want to know what lines are selling and we’re a little closer to the vest with that information. Harris Decker, Eye Designs Of Westchester, Scarsdale, NY
• I share what my inventory allotment is for each line the vendor carries and how many more additional they can bring in. I also share how much the dollar amount they are allowed to bring in at one time or if I do not want to have them bring anything in at that time. Caitlin Neal, San Juan Eye Center, Montrose, CO
• Only select and trusted. Jocelyn Mylott, D’Ambrosio Eye Care, Lancaster, MA
• We share the inventory figures with all vendors to show what is selling versus what wasn’t selling in the stores. Danielle Doniver, Heritage Optical, Detroit, MI
• Amount of market share I sell of their products. David Johnson, RMO Eyecare, Tyler, TX
• All. All the time. They should have a vested interest in the success of the office. If they do not pay attention to my numbers and try to improve them then they may need to be “fired” and replaced. Mark Clement, OD, Gateway Eye Associates, Pittsburgh, PA
• They know the numbers sometimes better than I do, even with other brands. Adam Ramsey, OD, Socialite Vision, Palm Beach Gardens, FL
• Mostly contact lens vendors. Lee Walters, Pearle Vision Eyecare, Colorado Springs, CO
• We share if the brands have been successful or moving well, but not any hard details like money made, etc. Colby Spivey, Vision Center South, Dothan, AL
• Yes, an abbreviated version of their lines sales info. We want them to know that we know what we carry, sell, warrant out and return. We want them to be invested in our success which in turn makes them successful. Amie Robinson, Spring Hill Eyecare, Spring Hill, TN
• I’m an open book if someone is interested. Marc Ullman, OD, Academy Vision, Pine Beach, NJ
• Pam Housley, Texas State Optical of Nederland, Port Arthur, TX
• This is my key to successful inventory management. When my sales reps call on me, they know I will have pulled a report to see which frames have sold since my last stock order. I will also see what has moved in the past six months or the last year. This tells me if the frame has sold multiple times. If it is the first of the year, I also look at the total number sold from each vendor in the prior year to see if the product line had an overall turn of at least three times.
• I share inventory/sales info if a product is doing really well or really poorly so that we can have good discussions about what direction we should take. Cynthia Sayers, OD, EyeShop Optical Center, Lewis Center, OH
• We share our stats with select vendors, usually those of luxury lines or those who give us added benefits such as VSP Premier Perks, etc. Sydney Tramontano, Woolf Eye Lab, Pasadena, MD
• If you are moving product the vendor should have a fairly good idea of what you’re moving based on orders and reorders. A good rep will audit your inventory periodically as well and make suggestions. A good brand rep should help you be successful which benefits everybody in the relationship. Jason Klepfisz, OD, Urban Eye Care, Phoenix, AZ
• Reps get a printed inventory and a sale through from the last visit. This includes turn times, on hand inventory cost, etc. We’re lucky to work with great reps who pretty much have this info calculated already but we’ve found it helps streamline the meeting. Travis LeFevre, Krystal Vision & LFVR Eyewear, Logan, UT
• We share our numbers but expect them to already know how much we have sold. Lisa Smith, Precision Eye Care, Vancouver, WA
• I typically will share this if there is an issue with the line selling to prove why I would want to decrease inventory or remove the line completely. I also would share this information with a trusted vendor that is really interested in helping me with our business. A good relationship with your frame vendors changes EVERYTHING. Morgan DiMaggio, Taylor Eye Care, Carmi, IL
• If they ask, I provide. It’s a team effort. I need what I can sell-through and they need the same. Jennifer Yerden, Sights and Shades, Canandaigua, NY
• We compare what has sold well with each particular vendor, and what pieces are not good sellers, so they can be exchanged for fresher models that could sell. Pablo Mercado, Highland Eye Boutique, Atlanta GA
• All the time. Vendors have all the information concerning the business that we do monthly. Texas L. Smith, OD, Dr. Texas L. Smith & Associates, Citrus Heights, CA
• How can you have an informed conversation if you don’t share numbers with a vendor? It isn’t 007 secrets. They know exactly how they are doing with us. We need to work together to improve. Steve Nelson, Eye Candy Optical, Westlake, OH
• Vendors are shown how many spots they have on the boards and are informed if their line is not moving. Specific sales volume they are not typically told but really their company should have a fair feel of that anyway. Zachary Dirks, OD, St. Peter and Belle Plaine Eyecare Centers, Saint Peter, MN
• We share only their product information, i.e. sold, returns, product still in inventory etc. Mark Perry, OD, Vision Health Institute, Orlando, FL
• Vendors we maintain good relationships with, or vendors whose products exceed our desired inventory threshold. Geoff Graham, Lake Country Optometry, Lake Country, BC, Canada
• Vendors usually have a good idea as to how their product is doing at your practice. With product that is doing very well, we would consider increasing our investment. Sonja Franklin, OD, Modern Eyes, Austin, TX
• All vendors during an appointment to return any discontinued frames or stock that has been sitting for too long. Pam Peters, Midwest Eye, Downers Grove, IL
• I like to compare YTD vs. LY every time I see reps. It lets us both know where we’re trending and leads to mutual ideas about how to create a buzz. Don Stahl, Bixby Eye Center, Peoria, IL

No: 54%

• I share turnover rate in comparison with other like brands to determine if we will keep that line or not. Sometimes lines go stale for a while so it may be a good idea to change out to a different line. Ann-Marie Weaver, Optimal Eye Care, Lewis Center, OH
• We prefer our vendors stay focused on their products’ performance. Our metrics are simple: Is your product moving quickly and are we displaying those products that move well? Faster and more frequent turns from each lines yields more sales for all brands/vendors and better returns for our reps. A Blake Hutto, OD, Family Vision Care, Alma, GA
• All they need to know is if I need more stock or not. Jennifer Leuzzi, Mill Creek Optical, Dansville, NY
• I do share their sales/inventory figures from their own brands… but they tend to have such things figured out anyways, due to their own data sets, tracking, etc. I share whatever is necessary for us to form an appropriate plan for their brand(s). Jen Heller, Pend Oreille Vision Care, Sandpoint, ID
• Turn time if it’s needed. If I have stagnant inventory neither the office nor the rep is making a profit. Lindsey Pulford, Insights Eyecare, Manhattan, KS
• None of their business. Richard Frankel, OD, Atlantic Cape Eyecare, Wildwood, NJ