The PDS Pharmacy Podcast

Guest Jim Sorrentino, Flash Returns

Flash Returns is a reverse distributor that is a leading expert in the returns industry. They help owners with their pharmacy inventory management by maximizing the value of their inventory that is near, at, or past its expiration date.

Pharmacy Inventory Management Tips (#7)

Guest: Jim Sorrentino, Flash Returns
Length: 30 minutes

Learn How PDS Can Help Optimize Your Inventory

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Pharmacy inventory management is a challenge. 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. Maintaining an accurate and optimized inventory can reduce the overall inventory carry, minimize stock-outs, and enhance the overall standard of patient care.

PDS is dedicated to give independent pharmacies the answers they need to run a stronger, more profitable business. In this episode, we’ve enlisted an expert on expiring inventory and how to maximize their value.

Listen to this episode and learn:

  • The often overlooked side of pharmacy inventory management
  • How to handle dead inventory.
  • The financial impact of implementing a returns system.
  • The consequences of neglecting your expiring items.
  • How to set up your pharmacy and team for pharmacy inventory management success.

You can Find Flash Returns at:
www.flashreturns.com
Phone: (513) 579-0099

Show Links:

Flash Returns Website

USP <800> and Your Pharmacy Webinar

PDS Super-Conference

Show Notes:

  • What is a reverse distributor. [2:07]
  • What is the single biggest mistake owners make with their dead inventory. [3:47]
  • Breakdown of the value of expiring inventory. [5:59]
  • Generic drug credit estimate. [7:46]
  • Recommended window of time a pharmacy should return products to receive credit. [8:08]
  • Dr. Faast’s example of an internal expiry system. [11:27]
  • System best practices. [12:03]
  • Tips to maximize the value of returns. [13:04]
  • Don’t neglect to return your C2 drugs. [16:03]
  • Avoid the returns guessing game. [16:53]
  • Can a pharmacy send back raw chemcicals? [18:49]
  • How do you handle hazardous items? [21:11]
  • Jim answers a frequently asked question about dispensing vials. [22:27]
  • Jim’s plan of action for pharmacy owners. [25:03]
  • Lisa’s plan of action for pharmacy owners. [27:16]
  • Get started with Flash Returns. [27:54]
  • Special promo for listeners. [29:11]
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