Prevent Losses and Ensure Patient Safety with Expiry Alerts
Pharmaplus+ Stock Expiry Management helps retail pharmacies in India track and manage product expiration dates, reducing the risk of dispensing expired medications and minimizing financial losses due to expired stock. This feature provides timely alerts and reports on approaching expiration dates, ensuring that pharmacies can take proactive action to manage inventory effectively.
Challenges Solved by Stock Expiry Management
Managing stock expiration dates is critical for pharmacies. Failure to track expiry dates properly can result in dispensing expired medications, risking patient safety, and leading to legal liabilities. Expired stock also represents financial losses as unsold products must be discarded. Without a proper system in place to track and manage expirations, pharmacies face challenges in maintaining regulatory compliance and profitability.
How Pharmaplus+ Stock Expiry Management Works
Pharmaplus+ Stock Expiry Management automatically tracks the expiration dates of all products in a pharmacy’s inventory. The system provides alerts as products near their expiration dates, allowing pharmacy staff to take necessary actions such as moving products for sale, offering discounts to clear stock, or safely disposing of expired items. Additionally, the system generates detailed reports on stock expiry, offering pharmacy owners a clear overview of inventory at risk. This proactive approach reduces wastage, prevents losses, and ensures that only safe, in-date products are dispensed.
Key Benefits for Retail Pharmacies
- Prevent Dispensing Expired Medications Receive timely alerts about upcoming expirations to ensure that expired products are not dispensed, safeguarding patient safety.
- Minimize Financial Losses Reduce waste by identifying products nearing expiration and taking proactive steps to sell them before they expire.
- Enhance Inventory Control Monitor stock expirations in real-time, improving inventory management and reducing the risk of overstocking slow-moving items.
- Ensure Regulatory Compliance Maintain compliance with legal and safety regulations by properly disposing of expired medications and ensuring they are not dispensed to customers.
- Optimize Stock Rotation Implement an effective stock rotation system by identifying products at risk of expiration and prioritizing their sale or disposal.
Real-World Case Study Bengaluru Pharmacy
A retail pharmacy in Bengaluru faced significant losses due to unsold products expiring on the shelves. After implementing Pharmaplus+ Stock Expiry Management, the pharmacy began receiving alerts for products approaching expiration. This allowed them to offer discounts on soon-to-expire items, reducing waste and preventing financial losses. Over six months, the pharmacy saw a 20% reduction in expired stock and increased sales of products that were previously overlooked.
Feature Impact How Stock Expiry Management Enhances Inventory Control
Pharmaplus+ Stock Expiry Management helps pharmacies prevent financial losses, improve inventory control, and ensure patient safety by providing timely alerts and reports on product expiration dates. By tracking expirations and taking proactive action, pharmacies can reduce waste, boost profitability, and maintain compliance with safety regulations. This feature streamlines inventory management, ensuring efficient stock rotation and preventing expired medications from being dispensed.
Free for Life Plan Manage Expirations Effectively at No Cost
Pharmaplus+ offers Stock Expiry Management as part of its free plan, allowing retail pharmacies to effectively manage expirations without additional costs. Pharmaplus+ provides a comprehensive solution for inventory management and expiry tracking, with optional advanced features available for larger or more complex pharmacies