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OTC Optimized

Tips and Tools to Optimize your Over-the-Counter Square Footage

At Inventory iQ, our team members are in and out of pharmacies every day. So we see and experience independent pharmacies of all shapes and sizes. Stores that are focused on making their front-end programs numbers work for their store’s success understand that OTC is all about:  

  • Placement – where and how items are presented in store or returned if needed 
  • Pricing – meeting customer expectation for items within your market zone 
  • Promotion – when and how items are promoted 

Tips for Optimizing your OTC Program

  • Know your market zone pricing. This helps ensure you are priced competitively for your area. Shop competitive stores to determine market pricing on your OTC Items. Then talk to your vendors about pricing products to your market. Also, you can request that your wholesaler review your marketing pricing and make adjustments.
  • Plan and Promote OTC items by season. Seek out a local printer. Then ask for a discount is you commit to a yearlong print program that supports your over-the counter med sales.  
  • Partner with local suppliers to offer products that are specific to your region and can be sold on consignment. Then discuss partner promotions, incorporate these products into your seasonal calendar and discuss sharing promotional costs as needed. 
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Tools Recommended for Optimizing your Store and your OTC 

We found some helpful tools for planning out your efforts to increase your square footage perforamce. Take full advantage of these free resources.

  1. PDS’s breakdown of operational costs and recommendations for independent pharmacies. 
  2. PBA’s free promotional calendar is helpful download for planning your annual promotions. 
  3. Health Mart’s Map Your Marketing A Year Ahead  download to help you connect your promotional calendar to your full marketing plan.  

Maximizing every area of your store, from every angle, can be cumbersome. We at Inventory iQ are passionate about using the best resources to make your store stand out. We are here to make the most of your market position and your OTC inventory.  So let us serve your store with our strategy and inventory management skills. Get in touch. 

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Founded in 2011, Inventory iQ gives you a smart, data driven approach to optimizing your pharmacy inventory. We’ve helped nearly 400 pharmacies realize $60K  on average in cash flow.

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Pharmacy Management Systems

Here are some of the systems we have experience managing. If you don’t see your system in the list, please let us know. We are always working towards expanding our knowledge of pharmacy management systems.