Setting up an inventory management software in your pharmacy or patent medicine store from scratch; costly mistakes you don’t want to make
Managing a pharmacy or patent medicine store can be a very daunting task. You need to ensure that you have enough inventory, review and interpret prescriptions, counsel patients not to mention the marketing and other administrative responsibilities. These are the day-to-day activities you and your staff must perform to run an effective pharmacy or patent medicine store.
Running a pharmacy or patent medicine store manually in this digital age is cumbersome, time draining and will lead to a slow down in inventory management (stock-taking, restocking), prescription preparation and documentation. During the lockdown due to the pandemic, contactless access to drugs shot up. Although the lockdown in most parts of Africa has been lifted, some of the measures put in place during the peak of the pandemic are here to stay. This means that pharmacies and patent medicine stores will remain at the forefront of healthcare provision for a long time and you have a huge role to play in ensuring a healthy Africa. Without effective inventory management, you will be losing a lot of patients to the competition.
Are you tired of the challenges that you experience in your pharmacy and patent medicine store while managing your inventory manually? If yes, then this article is for you. What you need is inventory management software. An inventory management software will help you manage day-to-day activities and make running your pharmacy or patent medicine store a piece of cake.
Read on to learn a bit more about inventory management software.
What is inventory management software?
It is software designed to assist you in managing your inventory. It tracks orders, monitors supply chains and automates processes like medication administration and prescription processing. An inventory management software helps you understand what you have and how to manage it. You will be able to evaluate your pharmacy or patent medicine store’s performance and get an overview of revenue and sales.
If you are still sceptical about inventory management software, here are challenges it can help you resolve.
● Medication classification and selection.
● Changing customer demand
● Overstocking or Understocking
● Inconsistent tracking of your inventory
● Storing papers in different places you can’t remember
Features of an inventory management software
An inventory management software comprises several components that create an error-free inventory. These features include;
● Inventory management
This is the part of the software responsible for taking accurate inventory. It helps to make decisions based on data, provide alerts with suggestions on how to get appropriate supplies and identify prescription filling so that demand can always be satisfied without excess expenditure.
● Prescription management
Prescription management helps in arranging random multiple prescriptions and over the counter (OTC) stock to maintain optimal inventory levels.
● Dispensing workflow management
A dispensing workflow helps to eradicate dispense errors such as look-alike and sound-alike medication names that can lead to the wrong interchange of drugs. A typical dispensing workflow uses different features such as prescription interpretation and data entry, drug information accuracy and medication issuance with counselling.
● Data Analytics
Data analytics helps to sort out structured and unstructured data sets in order to provide up-to-date information. Data analytics can help you identify trends in sales of medications and other pharmaceuticals. This allows you to adjust stock levels in anticipation of peak periods.
Before you purchase an inventory management software
It is important to consider these four questions below to avoid making costly mistakes:
1. What does my Pharmacy or Patent medicine store require?
Before purchasing an inventory management software, you need to understand your pharmacy or patent medicine store requirements first. Requirements include pharmacy goals and processes. Afterwards, map out the challenges you face in managing inventory and the solutions you are in need of.
2. What is the cost of the software?
The complexity of your requirements should determine the software you purchase. Before investing in inventory management software, you should check your finances and opt for the software that best suits your budget.
3. How easy is it to use?
Usability determines how well your staff can use the software effectively. You need to put into consideration how much time would be required for you and your staff to learn to navigate the software. If it takes longer, do not buy it. Easy-to-use software is better than its complicated counterpart. Remember, you are trying to fix a challenge, not incur another.
4. How accessible is it?
Another important thing you need to take notice of when choosing an inventory management system is Accessibility. Inquire if the software you are considering is suitable for mobile devices and how many users can implement it, whether it is a web-based or an on-site system, and so on. Accessibility is an important factor to consider, especially if you have multiple stores.
Purchasing an incompatible software will lead to a waste of time which will leave you no better than you were before.
Remedial Rx; the inventory management software you need
You can streamline your pharmacy or patent medicine store’s operations by downloading Remedial Rx. Remedial Rx is an easy to use app that can be downloaded on the google play store. Remedial Rx reduces costs, paper and time spent in running your day-to-day pharmacy or patent medicine store’s operations.
Key Remedial Rx Features
Pharmacy Management
Ever thought of managing your pharmacy or patent medicine store with just one app? Well, worry no more. With Remedial Rx you can manage your employees, track sales and inventory and do your accounting all in one platform.
Auto stock replenishment
Automatically replenish your pharmacy or patent medicine store’s stock once the set benchmark is attained using Remedial Rx. It also helps to manage soon-to-expire products.
Error-proof order processing
Remedial Rx will help you validate orders placed against original prescriptions from clinics/hospitals. Remedial Rx will dispense medicine safely with a unique barcode validation (in your inventory records) for a look-alike.
Simplified Patient Communication
Your patients can use the chat feature on Remedial Rx when ordering medications and reconciling on arrival. Remedial Rx is integrated with SMS services for order notifications or campaigns.
Closing thoughts
Managing your inventory has become easier with inventory management software like Remedial Rx. No more need for tedious spreadsheet and inventory errors. No more papers you can easily misplace. Remedial Rx manages everything ranging from ordering to financing. You can create your views, filter, save and export data to excel. As many pharmacies and patent medicine stores across Africa opt for inventory management software; do not be left behind. Maximise this technology today and say goodbye to manual inventory and its challenges. To stay ahead of the competition and manage your inventory like a boss, download Remedial Rx here.
