The Problem

inventory-countsMany pharmacies are not utilizing a perpetual inventory system which allows them to track exact inventory values at any given moment in time. Unfortunately, these pharmacies lack transparency with respect to their largest expense. Most often, pharmacies in this situation do 1 of 3 things…

  1. Take guesses with varying degrees of education at a total inventory number
  2. Estimate broadly the value of inventory based on a count from previous years
  3. Project forward an inventory value by a percentage increase year after year

All of these practices are derived from a lack of time to count inventory with the many other important daily responsibilities of owning and operating a successful business. Especially a pharmacy! There are many problems associated with these methods. A few of them are:

  1. If your estimate is too high, your tax bill is also too high.
  2. Inventory value changes every day. The more time since your last physical represents more variance in inventory value that is simply unpredictable.
  3. Drug prices don’t increase by a set percentage each year. Many prices increase, but several prices will also decrease throughout the year.

inventory-countsMany pharmacies are not utilizing a perpetual inventory system which allows them to track exact inventory values at any given moment in time. Unfortunately, these pharmacies lack transparency with respect to their largest expense. Most often, pharmacies in this situation do 1 of 3 things…

  1. Take guesses with varying degrees of education at a total inventory number
  2. Estimate broadly the value of inventory based on a count from previous years
  3. Project forward an inventory value by a percentage increase year after year

All of these practices are derived from a lack of time to count inventory with the many other important daily responsibilities of owning and operating a successful business. Especially a pharmacy! There are many problems associated with these methods. A few of them are:

  1. If your estimate is too high, your tax bill is also too high.
  2. Inventory value changes every day. The more time since your last physical represents more variance in inventory value that is simply unpredictable.
  3. Drug prices don’t increase by a set percentage each year. Many prices increase, but several prices will also decrease throughout the year.

The Solution

Skip the guesswork! Save your time! Keep your hair! Avoid the audit! We’ll take it from here! We provide the most accurate inventory count in the industry. Each of our inventory experts has prior pharmacy technician experience. We recognize factors other inventory companies don’t that may cause their counts to be less accurate. Pharmacy is our only focus. We are intimately familiar with your wholesaler, your price stickers, and the best methods to get you the most accurate inventory number possible. Give us a call. We want to be your inventory company!