Learn how Pharmaplus helps pharmacies manage expiry dates in their medicine catalog, ensuring timely stock rotation, preventing waste, and maintaining compliance with safety regulations.
Managing expiry dates in a pharmacy’s medicine catalog is critical to ensuring product safety, reducing waste, and staying compliant with regulations. Expired medicines not only pose risks to patients but can also lead to financial losses and regulatory penalties. Manual tracking of expiration dates can be time-consuming and prone to errors. Pharmaplus simplifies this process by providing automated tools for tracking and managing medicine expiry dates, helping pharmacies ensure timely stock rotation and safe dispensing. In this blog, we’ll explore how Pharmaplus assists pharmacies in managing expiry dates effectively.
1. Automated Expiry Date Tracking for Accurate Inventory Management
Tracking expiration dates manually across hundreds or thousands of medicines can be overwhelming. Pharmaplus automates expiry date tracking, ensuring that pharmacies always know when products are nearing their expiration.
How Pharmaplus Tracks Expiry Dates Automatically
- Batch-Level Expiry Tracking Pharmaplus tracks expiration dates for medicines at the batch or lot level, ensuring that the system knows exactly when each batch of medicine is set to expire.
- Real-Time Expiry Alerts Pharmaplus provides real-time alerts when products are nearing their expiration date, allowing pharmacy staff to take timely action, such as removing or discounting near expiry stock.
- Automated Expiry Updates As soon as a new batch of medicine is added to the inventory, Pharmaplus automatically updates the expiry dates in the system, ensuring that all inventory records are up-to-date.
With automated tracking, Pharmaplus helps pharmacies stay on top of their expiry dates, reducing the risk of selling expired products and improving overall inventory management.
2. Simplifying Stock Rotation to Prevent Product Waste
Proper stock rotation is essential to prevent wastage from expired medicines. Pharmaplus helps pharmacies implement effective stock rotation practices by prioritizing products that are closest to their expiration date.
How Pharmaplus Facilitates Stock Rotation
- First-Expired, First-Out (FEFO) Management: Pharmaplus implements the FEFO method, ensuring that products nearing their expiration date are dispensed first, reducing the likelihood of stock going to waste.
- Stock Prioritization Pharmaplus highlights medicines with the shortest shelf life, guiding pharmacy staff to prioritize these products for sale or use before newer stock.
- Visual Expiry Alerts Pharmaplus uses visual indicators in the catalog to show which products are close to expiry, making it easy for staff to identify and prioritize these items during daily operations.
By simplifying stock rotation, Pharmaplus ensures that pharmacies reduce waste and optimize their inventory usage, keeping costs low and improving efficiency.
3. Preventing the Sale of Expired Medicines with Automated Block Alerts
Selling expired medicines is a serious compliance and safety issue. Pharmaplus safeguards against this by providing automated block alerts that prevent expired products from being sold or dispensed.
How Pharmaplus Blocks the Sale of Expired Medicines
- Expiry Date Validation Pharmaplus automatically checks the expiry date of a product at the point of sale, ensuring that expired products cannot be added to customer orders or dispensed to patients.
- Automatic Sales Block If a product has reached its expiration date, Pharmaplus prevents it from being sold, automatically flagging the product in the system to stop any further transactions.
- Inventory Hold for Expired Stock Pharmaplus holds expired products in a separate status within the inventory system, ensuring they are not mistakenly sold or dispensed to customers.
By blocking the sale of expired medicines, Pharmaplus ensures that pharmacies maintain compliance with safety regulations and protect patient health.
4. Managing Supplier Returns and Recalls for Expired Products
Expired products may sometimes need to be returned to suppliers or removed from circulation due to recalls. Pharmaplus makes it easier for pharmacies to handle supplier returns and product recalls, ensuring that expired or unsafe products are efficiently removed from inventory.
How Pharmaplus Manages Returns and Recalls
- Automated Recall Alerts Pharmaplus automatically alerts pharmacies to product recalls, flagging the affected products and initiating the removal process from the medicine catalog and inventory.
- Supplier Return Integration Pharmaplus streamlines the process of returning expired products to suppliers by generating return requests and tracking the status of returns in the system.
- Recall and Expiry Reports Pharmaplus generates detailed reports on recalled or expired products, helping pharmacies maintain a record of returns, stock adjustments, and compliance with recall procedures.
With efficient recall and return management, Pharmaplus helps pharmacies mitigate the risks associated with expired or recalled medicines.
5. Reducing Financial Losses from Expired Stock
Expired stock can lead to significant financial losses for pharmacies. Pharmaplus helps pharmacies reduce these losses by providing tools to optimize stock levels and minimize overordering.
How Pharmaplus Reduces Financial Losses
- Inventory Optimization Pharmaplus tracks historical sales data and usage patterns to help pharmacies order the correct quantities of each medicine, reducing the likelihood of excess stock that could expire.
- Low Stock Alerts Pharmaplus sends low stock alerts based on real-time inventory data, ensuring that pharmacies reorder medicines only when necessary and avoid overstocking.
- Expiry Date Forecasting Pharmaplus forecasts expiration dates and usage rates, helping pharmacies plan promotions or discounts on near-expiry items to clear stock before it expires.
By minimizing overstock and reducing financial losses from expired products, Pharmaplus helps pharmacies improve profitability and maintain better control over their inventory.
6. Customizable Expiry Date Reports for Better Decision-Making
Tracking expiry dates across hundreds of products can be challenging without the right insights. Pharmaplus offers customizable reports that give pharmacies a detailed overview of products nearing expiration, enabling better inventory decisions.
How Pharmaplus’ Expiry Reports Improve Decision-Making
- Expiry Date Summary Reports Pharmaplus generates reports summarizing which products are approaching their expiration date, helping pharmacies prioritize those products for sale or use.
- Batch and Lot Expiry Reports Pharmaplus provides detailed reports by batch or lot number, allowing pharmacies to track which specific product batches are expiring soon and ensuring they are addressed in time.
- Expiry Trend Analysis Pharmaplus tracks expiry trends over time, helping pharmacies analyze which types of products frequently expire and adjust their ordering and stocking strategies accordingly.
With these customizable reports, Pharmaplus enables pharmacies to make informed decisions about their inventory, improving overall efficiency and reducing waste.
7. Ensuring Compliance with Expiry Date Regulations
Pharmacies must comply with stringent regulations regarding the sale and disposal of expired medicines. Pharmaplus ensures that pharmacies stay compliant by automating expiry date management and providing tools to monitor and address compliance issues.
How Pharmaplus Ensures Compliance
- Automated Expiry Compliance Checks Pharmaplus automatically checks expiry dates and flags any products that are at risk of expiring soon, ensuring that pharmacies take timely action to prevent non-compliance.
- Audit-Ready Reports Pharmaplus generates detailed reports on expired stock and actions taken to remove expired products from inventory, providing pharmacies with the documentation needed for regulatory audits.
- Disposal and Waste Management Pharmaplus tracks the disposal of expired medicines, ensuring that pharmacies follow proper disposal procedures in line with regulatory requirements.
By helping pharmacies manage expiry dates effectively, Pharmaplus ensures compliance with industry regulations and reduces the risk of penalties.
Managing expiry dates in a pharmacy is essential for maintaining product safety, compliance, and profitability. Pharmaplus simplifies this process by automating expiry date tracking, enabling efficient stock rotation, and ensuring that expired products are never sold. With real-time alerts, customizable reports, and compliance tools, Pharmaplus helps pharmacies reduce waste, minimize financial losses, and protect patient safety.
Ready to streamline the management of expiry dates in your pharmacy? Start using Pharmaplus today to maintain accurate, safe, and compliant inventory control.