Already on a Perpetual Inventory System?

Perfect! How would you like to take the next step toward maximum efficiency? We at Inventory I.Q. can help you achieve your efficiency goals by maximizing effectiveness of the four pillars of any perpetual system. Reorder points set using Inventory I.Q.’s proprietary algorithm written specifically for pharmacy, package size analysis, synchronizing and scheduling purchases, and liquidating non-returnable stock are crucial to the success of your perpetual inventory system.

Reorder Point (ROP)

Is the level at which an order for a particular item is generated. This is the minimum amount of product a pharmacy wishes to keep in stock at any given time. Inventory I.Q. provides reorder points generated from our pharmacy specific algorithm to deliver the most beneficial stock levels possible without creating debilitating overstock that affects your profits and your cash flow. Inventory I.Q. customers average nearly 40% greater efficiency than industry average when it comes to Inventory Turnover Ratio (ITR).

Synchronizing & Scheduling Purchases

Is the #1 way to boost efficiency and mitigate risk after you begin managing your inventory with a perpetual system. Are you tired of expensive drugs sitting on your shelf for 29-89 days hoping the customer comes back for them? A lot can happen in this extended time frame. We identify these hazardous opportunities and suggest them for a synchronization or scheduling program that can eliminate a ton of risk and greatly improve your cash position.

Package Size Analysis

Is one of the many analytical tools used by our implementation teams. Often times, pharmacies are able to take advantage of the principle of economies of scale by purchasing larger package sizes for items used in greater quantities. Unfortunately, if the time to sell through the inventory is too great, some of the medication may expire or eat into the savings due to holding the item too long. We analyze usage on each and every drug to ensure you are ordering the correct packages to maximize savings.

Selling Non-Returnable Stock

Is a great way to liquidate items your wholesaler will not accept as returns for various reasons. We identify items needing attention according to usage analysis of each medication. Laws surrounding this issue vary depending on the state in which your pharmacy is located, so the solution may be different for each store. Whether through third party websites or sometimes through our network of customers, we can assist you in ways to move unnecessary inventory.