Pharmaplus+ Product Demand Forecasting provides retail pharmacies in India with advanced tools to predict future product demand, helping them maintain optimal inventory levels and reduce stock-related issues.

The Problem It Addresses

Challenges Without Accurate Forecasting

• Stock Shortages Running out of popular products due to inaccurate demand predictions.
• Excess Inventory Overstocking less popular items, leading to increased carrying costs.
• Inefficient Purchasing Difficulty making informed decisions about inventory and purchasing.

How It Works

Pharmaplus+ Product Demand Forecasting utilizes historical sales data and market trends to project future demand for various products. Here’s how it functions:

• Historical Data Analysis Examines past sales trends to identify patterns and seasonal variations.
• Market Trends Incorporates current market data and external factors influencing demand.
• Demand Predictions Provides forecasts for future demand, helping pharmacies plan inventory levels.

Key Features

• Data-Driven Insights Leverages historical data and market trends for accurate forecasting.
• Seasonal Adjustments Adjusts predictions based on seasonal variations and trends.
• Inventory Optimization Helps pharmacies align stock levels with anticipated demand.

Key Benefits to Retail Pharmacies

• Accurate Forecasting Predict future product demand based on comprehensive data analysis.
• Stockout Reduction Ensure popular products are always available to meet customer needs.
• Inventory Cost Savings Avoid overstocking and reduce carrying costs associated with excess inventory.
• Informed Purchasing Make strategic decisions about ordering and inventory management.
• Enhanced Profitability Optimize inventory to better align with customer demand and improve financial performance.

Real-World Impact

A pharmacy chain in Mumbai implemented Pharmaplus+ Product Demand Forecasting and saw a significant reduction in stockouts and excess inventory. By aligning their inventory levels with accurate demand forecasts, they improved customer satisfaction and increased profitability.

Feature Impact

Pharmaplus+ Product Demand Forecasting empowers pharmacies to make data-driven decisions, improving inventory management and operational efficiency. This feature ensures that pharmacies are well-prepared to meet customer demands while minimizing financial risks.

Free for Life Plan

Pharmaplus+ includes Product Demand Forecasting in its free plan, offering essential forecasting tools without additional costs.