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Advantages of Inventory Management Software

Inventory management in today’s world is the heart of pharmaceutical supply system. Stock records are the core of their business and efficient management, tracking and monitoring of the stock becomes very critical for their business.

Many pharmaceutical companies’ experiences out of stock & expiry resulting into delayed supply as well as loss of money due to expiry. This ultimately impacts their overall profit levels and it’s also painful to get into such situations. Therefore to keep a check and have a greater oversight on the stock implementing a smart pharmacy software is recommended, an efficient software or ERP built especially for pharma business should enable to get rid of all such issues.

You need a pharmacy software if you are struggling with any of these issues in your pharma business!

You are busy calling up distributors & asking information of medicines. You have no medium to compare rates & schemes between the distributors.

Sometimes you have to visit the distributors, suffer from crowd, wait in long queues, even after all this you do not get all the required products. In search of which you have to go to different distributors. Even after all this you fail to purchase some of the required products which leads to stock shortage.

You are dependent on the salesman of distributors to take your purchase order.

Your regular customers are returning because of non-availability of stocks.

You also fail to make smart purchase decisions because of no purchase tracking. You don’t remember that at what price and discount you actually had purchased and from which supplier. Like The same supplier who gave 15% discount on the last purchase is now giving discount of 5% on the same product, and you is unaware of it.

Many times you run short of those products which are high in demand or sometimes it happens to end up with more stock then needed which are not even much in demand.

Keeping track of breakage and expiry products is also difficult. You are not able to track breakage and near expiry products. You do not know which products are nearing their expiry dates or which products have broken.

Apart from all this you also have to take care of reorder, purchase orders, expiry stock management, accounts, file GST returns & many more.

If any of the above is true, it’s time to move to an efficient pharmacy software. Go for it. You won’t regret this decision.

Author Bio

Ishaan is a technology graduate and has a keen interest in ERP Software. Currently working as trainee with a mid-size FMCG wholesaler as a Trainee Support.