Is Faster Stocktaking Possible?

David was managing a chronic condition and always got timely prescription refills from the nearby pharmacy. Some weeks ago, David rushed to the pharmacy to refill his prescription before a doctor’s appointment. As he entered, he noticed a disarray of shelves and an air of frustration among customers.

Confused, he approached the counter only to learn from the manager that new stock had just arrived and they were in the process of stocktaking.

‘So you won’t be able to attend to me?’ David asked.

The manager nodded. ‘I apologise sir.’

‘Please check back in a few hours.’ she announced to the disgruntled customers.

Some grumbled about the inconvenience, while others lamented the lack of reliability. The apparent pharmacy’s sluggish stocktaking process was no longer just an occasional hurdle but a recurring issue.

‘Don’t you have a faster stocktaking process?’ A customer asked.

‘We apologise. Kindly bear with us.’ The manager replied.

The question lingered in David’s mind and as he made his way out, he halted and turned. Walking back to the manager, he said, ‘If you can’t fast track your stocktaking process and always have to make customers suffer for it then I guess I’ll source for other alternatives.’

An unsatisfied customer is not a good sign for your pharmacy business. Is your premise struggling with sluggish stocktaking processes? In this article, we discuss the possibilities of faster stocktaking processes and how your premise can implement them.

Causes of Slow Stocktaking Processes

Traditional stocktaking processes involve manual methods of counting inventory which make stocktaking tedious.

This involves spending valuable time physically counting items, recording data, and reconciling discrepancies. All these can be time consuming, labour-intensive and prone to human error.

Consequences of Slow Stocktaking Processes

Slow stocktaking processes can be a pain to your business — especially in pharmacy practice where timely access to medication is critical for patients’ health. Below are occurrences that will take place in your pharmacy business when your stocktaking processes are tedious.

1. Customer Frustration: Slow stocktaking processes can lead to frustration and inconvenience for patients who need their prescriptions filled quickly.
2. Disrupted Medication Adherence: Delays in medication refills due to slow stocktaking processes can disrupt patients’ medication adherence, leading to potential health complications or exacerbation of existing conditions.
3. Operational Inefficiencies: Slow stocktaking processes can lead to inefficient allocation of pharmacy resources, including staff time spent on manual inventory counts instead of focusing on patient care.
4. Reputational Damage: Constant slow stocktaking processes can damage your pharmacy’s reputation and lead to a loss of trust among your patients.

Is Faster Stocktaking Possible?

Your premise can avoid all these by making stocking processes faster. How can you make stocktaking faster? Below we highlight emerging solutions that you can adopt.

1. Barcode Technology: This assists your pharmacy in streamlining stocktaking by scanning barcode labels on products. Barcode scanners capture product information, update inventory records in real-time, and provide accurate stock counts. This reduces the time required for manual counting and also minimizes the risk of errors associated with manual data entry.
2. RFID Technology: Radio Frequency Identification (RFID) technology offers a promising solution for faster stocktaking in pharmacies. RFID tags embedded in product packaging or labels can be read remotely using RFID readers, enabling rapid and accurate inventory tracking. This technology eliminates the need for line-of-sight scanning, allowing multiple items to be counted simultaneously and reducing the time and labour required for stocktaking.
3. Automated Stocktaking Systems: Inventory management software can streamline your stocktaking process by limiting manual input. These systems utilize data from barcode scans to update inventory records, identify discrepancies, generate stocktaking reports, reduce stockouts and overstocking, and improve efficiency.
4. Mobile Applications: There are inventory management mobile apps that can assist you and your pharmacy staff in conducting inventory checks via smartphones or tablets. These apps often integrate barcode scanning, allowing the scanning of product labels and updating inventory records on the go. Mobile stocktaking apps afford you the flexibility by performing stocktaking tasks frequently and efficiently.

Enjoy Faster Stocktaking with Remedial Health app

Tired of slow and tedious stocktaking processes? Try the new Remedial Health app. Our tool contains an array of features that will ensure your pharmacy does not fall into an operational mess.

Whether you are managing more than one store or run a supermarket and a pharmacy, the Remedial Health app has got you covered. You can oversee your stores using the multi-store access feature and enjoy flexibility and convenience. The low stock notification feature gives you push notifications, ensuring instant restocking when stock levels are low.

Our app not only helps you prevent stockouts, the Visual data feature helps you understand your customers’ preferences, providing insights into what medicines to stock. This enhances customer satisfaction and boosts profits.

Managing inventory and sales transactions can be tasking but the new Remedial Health app takes all the stress away. It includes a built-in barcode scanning functionality. This feature allows you to adds products to your inventory easily or complete sales quickly within the app using your device’s camera to scan barcodes. Download the new Remedial Health app.

Final Thoughts

The scenario faced by David at the pharmacy highlights the necessity of efficient stocktaking processes in pharmacy operations. Slow stocktaking methods can lead to compromised patient safety, customer frustration, disrupted medication adherence, operational inefficiencies, and reputational damage. However, there are promising solutions available to make stocktaking faster and more accurate.

By adopting technologies such as barcode and RFID systems, automated stocktaking software, and mobile applications, your pharmacy can streamline inventory management processes, reduce errors, and improve overall efficiency.

Additionally, tools like the new Remedial Health app offer comprehensive features designed to address the challenges faced by pharmacies and patent medicine stores. In addition to these features, you can browse and purchase from a wide range of pharmaceuticals with nationwide delivery guaranteed within 3 days. All you need to do is download the app from Google play or App store. For more practical healthcare business insights to elevate your practice, subscribe to the Remedial Health blog.