Your cart is currently empty!
Category: Inventory
The XYZ analysis refines the ABC framework by considering product demand variations at your pharmacy. It helps reduce the risk of overstocking, improve forecasting accuracy, and lower inventory costs. Category X products have low demand variability (<10%), category Y has moderate variability (10-30%), and category Z has the highest variability. Combining XYZ with ABC gives…
ABC analysis is a vital inventory management system for pharmacies to prioritize products based on their impact on revenue. Grade A products drive 80% of revenue but require tight control to avoid expiries. Grade B items are of moderate value and Grade C items contribute the least to revenue and are prone to expiries. Continuous…
Annually, over 2 billion USD worth of pharmaceuticals go to waste worldwide, affecting supply chains and risking lives. Proper inventory management, including labeling and redistribution, can minimize waste and benefit the community, environment, and pharmacy finances. Kenya, for instance, has specific procedures and costs for pharmaceutical waste disposal. Embracing labeling systems can help pharmacies reduce…
Pharmacies can suffer financially from expired products, leading to lost sales and negative brand associations. Additionally, managing expiries is important for environmental sustainability and can enhance a pharmacy’s reputation. Monitoring expiries, managing slow-moving products, and considering partnerships for redistribution is crucial. Visit https://renewrx.africa/shop/ to make a difference.