“In just a couple of months, our inventory dropped has over $85,000 between our 2 stores! “
Jana Bennett, Co-Owner Randy Bennett Enterprises. Two stores using Rx30 software.
With “Optimum” inventory levels determined through Forecasting, “Surplus” inventory positions are identified and attacked via “Push” and “Pull” transfer functionalities.
Essentially, inventory transfer or “buying from yourself” can speed the time to the benefits revealed through Forecasting, and enables pharmacies to:
- Recoup inventory dollars; reduce return-losses along with carry costs associated with “dead” and overstocked inventory
- Reduce overstocked inventories; essentially buying from yourself instead of your wholesaler
- Meet discrete needs by transferring partials from store to store instead of ordering full and shelf-packs from your wholesaler.
How Does it Work?
- “Push”: The Datarithm system provides automated recommendations for transfer between “sister” locations across a chain.
- “Pull”: Stores can view and request “Surplus” inventories from sister locations
- A convenient shipping platform accommodates in-house courier or UPS shipping.
- The system maintains an electronic archive of all out-of-store inventory movement for quick retrieval in the case of State-Board or DEA audits.
- Upon completion of transfers, with bi-directional interface capabilities, inventory increment and decrement adjustments are made to the PMS to true-up on-hand positions.
- Simple “outbound” and “inbound” transfer audit procedures flag shipping discrepancies for management action.
Datarithm assists in the monitoring and management of inventories that may be subject to in-date or short-date returns so that pharmacies:
- Don’t miss wholesaler or manufacturer credits when available, and
- Are warned of pending expirations and prompted to remove such items from stocking bays thus averting possible expired drug dispensing.
How Does it Work?
- In-Date: Datarithm monitors dispense histories and for “new” items, such as auto-shipments and special orders, which are devoid of dispensing activity, the system provides alerts to return full, unopened containers to wholesalers for full credit (within the terms of your contract).
- Short-Date: By adding expiration dates in the Datarithm system for short-dated items; the system provides automatic Return Alerts to assure that return credit opportunities are not missed.