Pharmaplus+ Supplier Performance Tracking helps retail pharmacies in India effectively monitor, assess, and improve the performance of their suppliers. By tracking key metrics related to supplier reliability, quality, and efficiency, this feature ensures that pharmacies maintain consistent inventory levels, receive high-quality products, and build stronger relationships with their most reliable suppliers.
The Problem It Addresses
Pharmacies depend on suppliers for timely delivery of medications and other essential products. Delays, inconsistencies in product quality, or inaccurate order fulfillment can result in stock shortages, customer dissatisfaction, and financial losses. Without a reliable system to track supplier performance, pharmacies may struggle to identify underperforming suppliers and improve supply chain efficiency.
How It Works
Pharmaplus+ Supplier Performance Tracking allows pharmacies to track and analyze supplier performance through key performance indicators (KPIs), such as delivery times, product quality, and order accuracy. The system records this data for each supplier, generating detailed reports that help pharmacy managers assess performance trends and make informed decisions. This information can be used to improve supplier negotiations, strengthen relationships with reliable suppliers, and address issues with underperforming ones.
Key Benefits to Retail Pharmacies
- Evaluate Supplier Reliability Track delivery times, fulfillment rates, and the accuracy of orders to assess the reliability of each supplier.
- Improve Supplier Relationships Strengthen relationships with suppliers that consistently perform well by providing timely feedback and collaboration.
- Identify and Correct Issues Use performance data to identify underperforming suppliers and address quality or delivery issues before they impact inventory.
- Data-Driven Decisions Make informed decisions about supplier contracts, renegotiations, and sourcing strategies based on objective performance data.
- Ensure Better Inventory Management Partner with reliable suppliers to ensure timely deliveries and maintain optimal stock levels, reducing the risk of stockouts or overstocking.
Real-World Use Case
A pharmacy in Mumbai was struggling with delayed shipments and inconsistent quality from multiple suppliers, leading to stockouts of critical medications. After implementing Pharmaplus+ Supplier Performance Tracking, the pharmacy was able to identify the most reliable suppliers and renegotiate contracts based on performance data. As a result, the pharmacy improved its inventory management, reduced stockouts by 20%, and strengthened relationships with its top-performing suppliers.
Feature Impact
Pharmaplus+ Supplier Performance Tracking allows pharmacies to optimize their supplier relationships and ensure the consistent availability of high-quality products. By evaluating supplier performance through data-driven insights, pharmacies can improve supply chain efficiency, reduce operational risks, and maintain better control over their inventory. This feature enhances decision-making, leading to stronger supplier partnerships and better overall business performance.
Free for Life Plan
Pharmaplus+ offers Supplier Performance Tracking as part of its free plan, enabling retail pharmacies to monitor and evaluate suppliers without additional costs. Pharmaplus+ provides a comprehensive solution for supplier management, with optional advanced features available for pharmacies handling large-scale or complex supplier networks.