PDS Annual Conference
Board of Directors
Cash Flow 101
Pharmacy Profit Ignitor
“We weren’t doing any data mining the first three months of the year,” he shares, explaining that his stores were sitting at a gross margin of 21 percent. However, after returning from a Board of Directors meeting where data mining was a major topic of discussion, Greg began to consider it. Truth be told, Greg was sitting in a position where his margins were bleak, and he was questioning how long he and his team would be able to sustain themselves without a change. However, upon the implementation of data mining across his first three stores, Greg was able to make a huge impact, adding 4.8% to his gross margin within a few months, with most of it falling to the bottom line.
Greg’s son, who originally joined the business in 2010 as a technician, has taken the lead as operations manager. A position he was groomed for using PDS’ tools and trainings, from the Advanced Leadership Program to attending six years of PDS Conferences, Greg has confidence in his ability to manage the day-to-day business.
During a recent trip to Seattle for a Board of Directors meeting, followed by an Alaskan vacation, Greg stepped away from his stores for two weeks and left the reigns with his son.