Pharmacy inventory is a huge investment and a significant expense. Staff work in a fast-paced environment to get patients the medicine they need for better health. Compliance makes the day even more demanding. Pharmacy management may think operations can only function at a certain level. Not true—inventory and operations can be better than good with Datarithm.®
Datarithm analyzes inventory levels while not inconveniencing your patients. Here’s how the system works specifically:
- The pharmacy receives a forecasting tool that analyzes historical dispensing data, pre-selects the lowest error best-fit algorithm to predict the 30-day forward demand.
- The system establishes optimized reorder points for every item and generic group in a pharmacy’s formulary.
- The program identifies and addresses surplus inventory (overstock and dead).
Datarithm’s intelligent cycle counting function maintains on-hand precision throughout the year. This program will reduce stock-outs and overstock situations, improving cash flow and revenues. Many Datarithm clients enjoy a four-point turn-rate improvement and realize a 20% reduction in their inventory investment. The system also typically pays for itself in less than three months.