Let’s face it. In this day and age, pharmacy teams are overworked! With ever-increasing demands on their time—from COVID19 testing and vaccinations to other health and wellness services, such as home delivery—one might wonder how they have the time to implement a new inventory control solution. And, why now more than ever, forward-thinking pharmacies are doing just that with Datarithm®.
David Belinski, President of Datarithm has the answer “It is exactly because the staff doesn’t have time or the analytical capacity to control the 1,000’s of items in a typical formulary that comprise pharmacy’s biggest investment. That’s one big reason they are turning to us!”
And that investment is their inventory—a constantly changing and growing expense. One that if left unchecked, may balloon out of control, and negatively impact the bottom line. He continues, “Proper pharmacy inventory management is a combination of accurate demand forecasting, optimized re-order points, desired fill rates with limited stock-outs, automated wholesaler return, and store-to-store transfers for multisite operators.”
Jennifer Wilcox, VP of Sales, adds “Wholesaler return opportunities provide another important aspect of inventory management and, effectively, pushes the risk and cost of overstocking back to the wholesaler. Most pharmacies currently do not have an efficient process in place to manage this. However, if they keep wholesaler returns current, they can recoup tens of thousands of dollars from overstocked and dead inventory in a single cycle!” She continues “…with Datarithm® it’s all automatic!”So, what are the results the average Datarithm® customer achieves? Datarithm® has demonstrated the following time and time again:
- 20% Inventory Reduction – Average
- +4.31 Turn Improvement – Average
- Improved Cash Flow and a Healthier Bottom Line
- 98% Managed Service Level – Average
- Near Immediate ROI
But there is more! Datarithm® is easy to implement. New stores are trained and brought online fast.
“We’ve on-boarded entire chains in less than a week—our dedicated team is there every step of the way!” states Wilcox.
“Datarithm® is a cloud-based solution. So, there is no extra equipment required or proprietary IT needs.” Belinski adds. “The reporting tools, daily tasks and order point recommendations are all right there on an easy-to-use dashboard. Everything is just a few clicks away.”
So, what should a pharmacy owner, director, or manager do to get started and see if Datarithm® is right for them? “It is easy!” says Wilcox. “It all starts with a conversation and a quick free system demo.”
If you are ready to finally take control of your inventory and improve your pharmacy’s bottom line while giving your team back the time they so desperately need, then contact the Datarithm® team today.