Ever Green Pharmacy Trade
From the very childhood and even now, the names like paracetamol, syrup, injections, doctor, nurse, hospital used to frighten all of us, but during the course little have we all realized that the healthcare business is a recession proof business rather it flourishes during recession as people in depression consult doctors and take medicines more frequently.
No I am not asking you to open a chemist shop or force your younger ones to opt for medicine, it’s just an observation which I shared and to everyone's surprise it’s not the only industry which is recession proof but other business like Education, Food and more http://smallenterpriseindia.com/index.php?option=com_content&view=article&id=200:recession-proof-industries-that-we-can-trust&catid=75:features&Itemid=59 are also their which are least effected by recession.
Through this post I wish to highlight the complexities involved in pharmacy business and how we at “Softworld (India) Pvt Ltd” are addressing it since last 20 years.
Stake holders involved in pharmaceutical industry are:
· Manufacturing company
· Dealers/Distributors/C&F Agents
· Retailers
· End Customer
There are complexities involved from one level to the other due to which it is next to impossible to manage this trade without errors in a traditional manual manner. As the human error involvement is higher.
The flow works as:
· Manufacturer sales the drugs to distributor or the C&F agent
· C&F Agent will then pass on the drugs to different retailers.
· The Retailers finally sell them to the end customer
As we dig deeper there are different things involved in these transactions, out of many the main challenges are to have visibility, correct information, updates, transparency, security & authentication, robustness of data and reporting and analysis in business.
Also other major points which were considered are:
· Keeping track of sales order, sales invoice, purchase order, purchase invoice, challan etc.
· Updates on expiry, dead stock and slow moving items and so on.
· Accurate reporting and analytics for business decisions
· Sales return and its adjustment
· Accurate implication of VAT, octroi and other taxes and more.
When a C&F agent receives products from manufacturer he is supposed to pay the price with fixed days of credit period as mutually agreed upon them, similar agreement is between C&F agent and his retailers to whom he has supplied the material. To keep a track of the credit period is important, for any business and to know the outstanding amount.
Other concerns were to manage and adjust the returns and replacements which happen due to expiry, near expiry goods, breakages, free samples etc.
The buying pattern of customers has to be reflected to the manufacturer to be more profitable and fast in the execution of certain plans which will be created after studying and analyzing the reports and information.
We all know how emails, chats, skype, facebook etc. have almost replaced the traditional ways of communicating with friends and family via Posts.
The same way RetailGraph is committed to improve the business practices across the globe and make business more predictable by bringing visibility which helps management take strategic decisions.
There is more to be shared on RetailGraph and how proficiently it acts at all level by acting as a C&F Software, Distribution software, Retail software, store software etc.. and how it helps the pharmacy trade in my next blog.
Hope you have liked the post. Please share your comments.
· Keeping track of sales order, sales invoice, purchase order, purchase invoice, challan etc.
· Updates on expiry, dead stock and slow moving items and so on.
· Accurate reporting and analytics for business decisions
· Sales return and its adjustment
· Accurate implication of VAT, octroi and other taxes and more.
When a C&F agent receives products from manufacturer he is supposed to pay the price with fixed days of credit period as mutually agreed upon them, similar agreement is between C&F agent and his retailers to whom he has supplied the material. To keep a track of the credit period is important, for any business and to know the outstanding amount.
Other concerns were to manage and adjust the returns and replacements which happen due to expiry, near expiry goods, breakages, free samples etc.
The buying pattern of customers has to be reflected to the manufacturer to be more profitable and fast in the execution of certain plans which will be created after studying and analyzing the reports and information.
RetailGraph make this easy, fast and accurate by being C&F Software, Distribution software, Retail software, store software and more.
We all know how emails, chats, skype, facebook etc. have almost replaced the traditional ways of communicating with friends and family via Posts.
The same way RetailGraph is committed to improve the business practices across the globe and make business more predictable by bringing visibility which helps management take strategic decisions.
There is more to be shared on RetailGraph and how proficiently it acts at all level by acting as a C&F Software, Distribution software, Retail software, store software etc.. and how it helps the pharmacy trade in my next blog.
Hope you have liked the post. Please share your comments.
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