Pharmaplus+ Over-the-Counter (OTC) Product Management helps retail pharmacies in India efficiently track, manage, and optimize sales of non-prescription items. This feature allows pharmacies to streamline their OTC inventory, identify sales trends, and capitalize on high-demand products to maximize revenue.
The Problem It Addresses
OTC products are an essential revenue source for pharmacies, but without proper tracking and inventory management, pharmacies may miss out on the opportunity to optimize stock levels and increase sales. Failing to monitor popular items or running out of stock can lead to lost sales and customer dissatisfaction. Pharmacies need a system that effectively tracks and manages OTC sales and inventory.
How It Works
Pharmaplus+ OTC Product Management provides tools for tracking real-time sales and managing stock levels for non-prescription products. Pharmacy managers can see which items are in high demand, adjust inventory to prevent stockouts, and make data-driven decisions to boost sales through targeted promotions or pricing adjustments. This feature ensures that pharmacies are always stocked with top-selling OTC products, improving both revenue and customer satisfaction.
Key Benefits to Retail Pharmacies
- Real-Time Sales Tracking Monitor sales of OTC products in real-time, allowing pharmacies to stay informed about top-selling items.
- Inventory Optimization Adjust stock levels based on sales trends, ensuring that popular products are always available and reducing excess stock.
- Maximize Revenue Use sales data to promote high-demand products, adjust pricing, and capitalize on profitable OTC items.
- Sales Trend Insights Analyze sales trends to stay competitive and make informed decisions about product pricing and promotions.
- Improve Inventory Management Streamline the organization and management of OTC products, ensuring that both prescription and non-prescription items are effectively managed.
Real-World Use Case
A pharmacy in Bangalore struggled to maintain optimal stock levels for popular OTC products, often leading to stockouts or excess inventory of slow-moving items. After implementing Pharmaplus+ OTC Product Management, the pharmacy was able to track real-time sales trends, allowing them to adjust their stock levels based on demand. This resulted in a 20% increase in OTC product sales and improved customer satisfaction, as the pharmacy was consistently stocked with popular items.
Feature Impact
Pharmaplus+ OTC Product Management helps pharmacies increase revenue by optimizing sales and inventory management for non-prescription products. With the ability to track sales trends, manage stock levels, and adjust pricing, pharmacies can ensure that they are always offering the right products at the right time. This feature enhances overall inventory management and boosts profitability.
Free for Life Plan
Pharmaplus+ offers OTC Product Management as part of its free plan, allowing retail pharmacies to track and manage their non-prescription products without additional costs. Pharmaplus+ provides a complete solution for maximizing OTC revenue, with optional advanced features available for larger operations.