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:
Phone: (513) 579-0099
Flash Returns Website
USP <800> and Your Pharmacy Webinar
- 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]