Manage Your Inventory Like a Pro

Anyone who manages an independent pharmacy knows how intractable the challenge of inventory management can be, whether perpetual or not. Cycle counting, managing C-II logs, and tracking expired stock are among the labor intensive processes that can drastically impact the profitability of your business. However, maintaining accurate perpetual inventory can reduce the overall inventory carry, minimize stock-outs, and enhance the overall standard of patient care.

The problem is really one of automation—how can a pharmacy with competing demands on technician and pharmacist labor keep perpetual inventory, without a significant time investment?

The current model for keeping perpetual inventory should be well-known to anyone who manages daily operations in an independent pharmacy:

The end result of these processes is, hopefully, accurate perpetual inventory. But the major drawback is the amount of time investment required to have someone cycle count, manage par levels and reordering, check in totes against a manifest, and physically place bottles on shelves.

If someone calls in sick, it’s a busy Monday and there’s no time, or a technician forgets to cycle count, it can quickly become extremely difficult to keep up with the management cycle. The result is often the “garbage in, garbage out” problem, which is the tendency of manual inventory systems to drift over time, leading to inaccurate data, which in turn causes stock-outs, incorrect order quantities, and ultimately poorer customer service.

Automating the cycle eliminates the problems inherent in the manual process, and is now finally achievable!

Check out the upcoming webinar we are hosting with PDS on Thursday, September 10 @ 8pm EDT to learn more about what automation can do for your pharmacy’s inventory. Being able to get a handle on this vital side of the pharmacy business will pay dividends down the road.