Inventory Management for Independent Pharmacies

The Struggle Is Real

Independent pharmacy owners are facing mounting pressures and shrinking margins.

Between a surge in the need for healthcare services, wide-spread staffing shortages, increasing DIR fees, and employee burnout, today’s community pharmacies are feeling the strain. Owners are forced to wear many hats just to stay in business.

With Rx representing the pharmacy’s largest investment and expense, proper inventory management can have a significant and immediate impact on cash flow and profit.

Many independent pharmacies are turning to automation technology to assist with this effort, though business leaders may be hesitant to take on additional costs in these uncertain times. With Datarithm, the benefits you'll see from our inventory management solution will pay for themselves in less than 3 months:

Get a Daily Action Plan

You’ll get the information you can act on as soon as tomorrow and financial results you can see in less than two weeks.

Add Time & Efficiency

Free up your pharmacy team to focus on patient care and counsel by automating routine or redundant tasks.

Improve the Bottom Line

Better manage turns and fill rates to move cash off the shelf and into your bank account.

We are the independent pharmacy owner’s ally and advocate.

We share in the belief that health and wellness begins with you. We champion small businesses because we are one ourselves. When pharmacies survive, communities thrive, and we take great pride in the role we play.
We were founded by a pharmacist, a medical sales professional, and a software engineer.

These core perspectives have enabled us to be prescriptive in our process, flexible in our approach, and relentless in our service.
Datarithm offers so much more than inventory control software.

We pair the power of our platform with a prescriptive process, daily insights, hands-on training, and personalized guidance, finding you the cash flow you need to fuel the future of your business.

Datarithm Delivers

With Datarithm, you’ll have an ally in pharmacy management giving your team the reinforcement it needs to organize inventory and optimize cash flow.

We are the independent pharmacy owner’s ally and advocate.

We share in the belief that health and wellness begins with you. We champion small businesses because we are one ourselves. When pharmacies survive, communities thrive, and we take great pride in the role we play.
We were founded by a pharmacist, a medical sales professional, and a software engineer.

These core perspectives have enabled us to be prescriptive in our process, flexible in our approach, and relentless in our service.
Datarithm offers so much more than inventory control software.

We pair the power of our platform with a prescriptive process, daily insights, hands-on training, and personalized guidance, finding you the cash flow you need to fuel the future of your business.

Guide: 5 Tech Trends Were Tracking in Pharmacy Inventory Management

How Independent Pharmacies Can Operate Above the Wellness Line

If you’re a pharmacy owner, independent pharmacy, pharmacist, or involved in the inventory and supply for your pharmacy, this guide will help you understand the latest trends in pharmacy inventory management and provides ways to take advantage of these insights.

Let the Cash Flow

Stop leaving cash on the shelf and start securing the future of your pharmacy.

Give us 30 minutes, and we’ll show you how Datarithm^® will help you take control of your pharmacy's inventory and give time back to your team.

We'll walk you through how the features work, get answers to your questions, address challenges, discuss how this investment can improve your ROI, and more.

Just fill out the form, and you'll be able to pick a time on our calendars that works for you.

Schedule Your Demo

This is a free, no-obligation, live demonstration.

Jennifer, our Vice President of Sales and Marketing, is ready and waiting to speak with you.

Your Ally in Pharmacy Management

Is your business operating above the wellness line?

In order to run a successful pharmacy, inventory management must be automated, up-to-date, and efficient.

We've partnered with pharmacies like yours since 2005 when a pharmacist, a software engineer, and a medical sales professional joined forces to found Datarithm.

These core perspectives have enabled us to pair the power of our inventory management platform with hands-on training, daily insights, and personalized guidance to reinforce your team, optimize inventory, and free up cash flow.

Customer Testimonials

Don't take our word for it... take theirs:

Within ten minutes of going live, I pulled $10,000 worth of dead stock that I didn’t know I had on my shelves. Over a 3 month period of time, I managed to reduce my inventory $100,000 and be able to keep it down since then.

Reception to customer feedback and willingness to consistently and constantly improve their software will keep Datarithm® thriving and vibrant for years to come. The 20-25% reduction in inventory overhead and ease of inventory management simply become the icing on the cake.

In the first 3 to 4 weeks with Datarithm®, we did about $100K worth of returns. Datarithm® has, from a pharmacy that we felt was well stocked with very few ‘we owes’, decreased our overall inventory by $320K and did not greatly increase our ‘we owes.’ The product works by decreasing your inventory levels while not inconveniencing your patients.

Big thanks for correctly diagnosing what was wrong and helping us fix it! I’m thinking we’ll see more quick responsiveness to usage in our order points, so the value of that session is not really all here yet. Awesome stuff!

The Forecast Dashboard provides a “heads up” on how our inventory is performing daily and it shows the work our staff has completed to improve our inventory. The High-Low Usage helps us quickly identify unexpected changes, like why do we have so much of a drug or not enough of another? The Manage Generic Groups report helps us identify items that we missed when trying to manage so many different generics. We have saved so much money by reducing our on-hand, especially in our fridge. We barely ever pull anything that has expired anymore.

The thought of moving from our wholesaler-based inventory management system after roughly 11 years or so was pretty scary...I felt like we were doing a pretty good job. I was pleasantly delighted to be wrong! In just a couple of months, our inventory dropped has over $85,000 between our 2 stores! Simultaneously, our service level has gone up. We aren’t out of near as many items as we previously were and our customers are noticing the difference!

Datarithm^® has been great for my business and cash flow. The recommended transfers help burn dead items from stores that don’t use it to stores that do. It has truly engaged all of my employees in inventory control.

Datarithm^®’s Cycle Counting feature keeps our inventory more organized; our on-hands are more accurate than ever. Datarithm^® is a quick way to keep your inventory organized, plus everyone is working and analyzing the inventory; it is convenient because we can research a drug’s history and have a say in its future.

Before Datarithm^® I was using my wholesaler’s software version for perpetual inventory control, I did not trust the data. In today’s environment, it is essential that you make decisions using accurate data you can trust. Datarithm^® immediately began to produce the right data for me, I now have complete control of my inventory, and I'm more efficient which makes me more profitable.

I would like to thank you and the team at Datarithm^® for transforming my business! Not only has my inventory been reduced by over $100,000, but our entire ordering process has been streamlined. I have peace of mind now knowing that Datarithm^® is driving my inventory management. I no longer pay overtime, and it takes very little time to glance over the suggested order and make any corrections and send it!

I was very skeptical, but I took a chance on Datarithm^®. I really didn’t think my inventory could be managed any better. However, now, with the help of Datarithm^®, the amount of inventory we carry has been reduced by $30,000! We were able to return almost $20,000 to the wholesaler and have allowed the remaining items BOH to “shrink” to Datarithm^®’s recommendations. Take a chance on Datarithm^® – you won’t be disappointed!

We have been with you all for 10 months, our inventory has gone down 26% or $175K between the 2 pharmacies. We just do the minimum with you all and know that we can do more to even decrease it more and will try harder in the new year. I just wanted to say thanks for your great product and support.

Frequently Asked Questions

How long does it take to get up and running?

Getting started is quick and simple. You'll start seeing data you can act on in a few days and results you can measure in less than two weeks. After two months, your investment will begin to pay for itself.

How much time should my staff be spending on returns?

Truth be told, every pharmacy should be doing this already. Datarithm saves you time by eliminating the guesswork and providing a daily task list that your staff can execute on.

Do you offer training?

Yes! We are committed to helping your pharmacy make the most of its investment by ensuring your staff is comfortable using the tool. We offer Management training, Store training, and Refresher trainings as needed. You'll also have access to a detailed training portal and customer support team.

What are the contract terms?

We offer customizable contract terms based on your pharmacy's needs. Choose from three (3) package options that can be geared toward life of term, dropped surplus, and/or total inventory.

What kind of results can we expect?

We are proud of the results our clients have experienced using Datarithm's proprietary software and service. Here's what you can expect:

Average Turn Improvement of 4.6 Points
Average Turn Rate of 19X (compared to the 12-13x Industry Average)
Average Inventory Reduction of 20%

Community Health Begins With You

Meet Your Ally in Pharmacy Management