With the needs of the customer in mind, warehouses will be able to prioritize which products to have in stock and match the demand. While suppliers may not be able to control global events, it’s critical to be prepared and serve the end-users as much as possible. This illustrates the need to monitor stock levels and customer demands continually. For instance, an important type of penicillin has been unavailable in 39 countries since 2015, including Australia and the United States. With tight regulations and limited manufacturers for certain types of drugs, there is a small margin for error. The pharmaceutical supply chain is complex and prone to problems. There needs to be a clear line of communication pharmacies and their suppliers to ensure they have the right level and types of medicine at all times.
In this post, we will guide you through the steps pharmacists can take to master their inventory management.įor the pharmaceutical industry, the needs of the end-user take on an extra level of importance. In today’s world of global supply chains, ensuring optimum stock levels while meeting strict and varying laws, running a pharmacy is both a logistical and medical challenge. A well-known example is the laws on Cannabis-based medicine, ranging from the open regulations in Colorado to zero-tolerance in Arizona, with many states in between. Even within the United States, laws on medicines vary from state to state, which adds a layer of complexity. The other challenge faced by pharmacies is the issue of compliance and regulations.
The unique challenge of how to manage a pharmacy is juggling medical expertise with the technical skills behind inventory management. Pharmacies, manufacturers, and distribution centers each play a pivotal role in this process of delivering medicine to the end customers - the patients. Not only do patients need the right medicine and dosage, but they also depend on having a steady supply and stock that’s within date. When it comes to healthcare, organizing inventory takes on particular importance.