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Floods in Kenya reveal how pharmacy professionals can reduce pharmaceutical waste and positively impact the climate through more intelligent stock management.
Discover smart strategies to maximize returns from your pharmacy’s inventory when closing—redistribution, resale agreements, donations, and more.
Buying or selling a pharmacy? Inventory valuation can make or break your deal. Learn how FIFO, LIFO, and WAC methods impact stock pricing—and why understanding them is crucial in Kenya’s competitive pharmaceutical market. Decode the numbers before you sign on the dotted line.
Renew Rx tackles pharmacy waste! It’s a platform for selling near-expiry stock. Facing a client loss? List them! Looking for deals? Buy discounted meds at Renew Rx. Collaboration fights waste, helps colleagues, and improves patient access to meds!
Data and merchandising go hand-in-hand! Use sales info to identify slow-moving (Category C) OTC items. Strategically place them in decompression zones to boost sales. Analyze buying trends (allergy season, school breaks) to adjust shelf placement for maximum impact. Data empowers informed decisions, reducing expiries and maximizing profits!
Struggling with short-expiry or slow-moving items? Merchandising can help! Place them strategically at eye-level or near complementary products. Consider bundling for added value. While interaction might be limited, consider layouts that encourage customers to explore these hidden gems on your shelves.
Don’t let your pharmacy layout hurt sales! Design a floor plan that: Follows regulations but reflects your brand. Guides customers with clear flow and signage. Slows them down to browse with attractive displays. Uses the “right turn effect” to promote key products. Highlights impulse buys near the entrance.
New pharmacies face a stocking dilemma: enough supplies to attract customers, but not too much to avoid losses. Here’s how to impress first-time visitors: Know your market: Understand their needs and what sets you apart. Focus on OTC: Easier to manage stock and cater to a wider range of conditions. Work with nearby suppliers: Ensure…
Don’t just focus on long expiry dates! It can tie up your cash. Embrace data analysis to: – Identify slow-moving stock at risk of expiring. – Leverage short-expiry deals to boost profits (see liquidation platform link in full article). – Make data-driven decisions for your pharmacy’s success. Consider AI and outsourcing for efficient stock management.
Choosing pharmacy suppliers? Don’t risk product raids or cash flow issues! Key considerations: – Legally registered suppliers: Avoid unregistered sources to protect your business. – Supplier location: Consider lead time and impact on cash flow. – Local Technical Representatives (LTRs): Explore their offerings and pricing. – Start smart: Minimize debt to manage unforeseen challenges and…