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Bulk edit products with one-click

There are numerous product management tasks that need to be regularly completed in a pharmacy. To help you efficiently manage many of your daily tasks, we built the Minfos Product Quick Fix Screen.

 

This tool helps assist Stock Controllers and Retail Managers with making bulk product attribute changes from a single screen.

 

The Minfos Product Quick Fix Screen provides flexibility as the data can be filtered in many different ways. It allows you to review and action the product changes you need to make quickly and easily.

 

Here is a list of commonly used filters, that help you to:

  • View products and product details
  • Simultaneously fix multiple products and their attributes with one-click
  • View a product’s history via the Product Audit report
  • Update product stock cards
  • Easily merge products
  • Queue labels
  • Apply a filter to easily review and update products. You can do this for:
    • Known Value Items (KVI) lines
    • Products associated with a category
    • Products on an order
    • A range of products or a category based on products that have not sold since a specified date

 

Learn how to use the Minfos Product Quick Fix Screen here or watch these short video demonstrations here.

 

Looking to gain control of your inventory? Minfos software enables you to manage every aspect of your pharmacy – from dispense to retail. Let us show you a demo.

 

All advice provided is general in nature and is not intended as legal advice.

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Visit us at the 2021 TerryWhite Chemmart Conferences & APP 2021

Visit our stand to take a look at how:

  • Minfos will be integrating the Active Script List (ASL) workflow process into Minfos Dispense 
  • To use the Minfos electronic script queuing system (Minfos eQueue) to efficiently manage both your paper and electronic scripts
  • You can easily dispense for vaccination appointments
  • To save time and money by sending customers receipts via email or SMS 
  • You can quickly transfer stock between stores using Minfos Centralised Ordering
  • To use Minfos to automatically charge account customers

 

If you have any questions, feel free to reach out to us at  

 

We look forward to seeing you there! 

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3 Ways Active Script List can build customer loyalty in your pharmacy

 

This is a guest post by Brenton Hart – Chief Pharmacist of TerryWhite Chemmart

 

Here are some insights into eScript management. In this feature, TerryWhite Chemmart Chief Pharmacist, Brenton Hart shares his expertise around the use of Active Script List (ASL) to build pharmacy customer loyalty.

 

At TerryWhite Chemmart (TWC), we focus on helping our pharmacists build their business and help them drive better health outcomes for their local communities.

The launch of ASL will likely become one of the most critical events in the digital revolution of community pharmacy. It could define what success or failure looks like in relation to the ongoing battle for customer acquisition and retention.

 

So, what are 3 ways ASL can build customer loyalty in your pharmacy?

 

1. ASL gives you the opportunity to ingrain a customer into your pharmacy and its culture.

Driving ASL for most will mean proactively connecting with your patients, old and new, to offer assisted registration to ASL at your pharmacy.

 

While this key first-step will need investment with precious pharmacist time and resources, it is important not to view this process as a burden. We should focus on this as an opportunity to empower our patients by providing them with choice of the method of ePrescription management that best suits their personal preferences.

 

It’s also an opportunity to talk about how much you value their custom; how you want to be their pharmacist and to plant seeds that helps ingrain the customer in your unique market differentiators and pharmacy culture.

 

2. ASL provides convenience.

It is critical that our customers can access their medications and other pharmacy services on their own terms. How will you embed ASL along with tokens and paper scripts into a seamless and efficient workflow that supports a truly convenient end-to-end customer experience? How will you integrate these with your pharmacy’s App and other digital channels?

 

These are questions that you will need to consider and take action to address to ensure ASL makes for a seamless customer experience.

 

3. ASL can be leveraged to drive other key pharmacy services.

From a customer perspective, ASL will appeal most to those managing multiple medications or managing medications for others.

 

As for pharmacists, ASL provides us with a less fragmented overview of our customers’ prescription profiles. We have a bigger opportunity than ever before to improve adherence and reduce medication misadventure. I am looking forward to having a shared view of medication profiles with ASL and of course, no more lost prescriptions! This enhanced visibility means growing our services like medication reviews, while Dose Administration Aids make a lot more sense than ever before.

 

Assisting customers to improve medication adherence through the better management of their prescriptions not only results in better health outcomes, but also a potential increase in customer visits throughout the year.

 

Watch the eScripts with ASL webinar now.

 

Brenton HartAuthor bio

Brenton Hart is the Chief Pharmacist for TerryWhite Chemmart. He has 10+ years’ experience in managing and operating pharmacies. Brenton enjoys strategising on how community pharmacies can achieve their full potential as a business, deliver better patient outcomes and build a stronger connection with their communities. 

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Strategies to control your inventory

 

Maintaining accurate stock levels enables you to make informed and data driven decisions in your pharmacy. Let’s take a look at some strategies to make stock management easier.  

 

Manage accurate stock levels and product information

  • Avoid manually counting stock by using a stocktaking app, such as the Minfos App. Our stocktaking app can be used by multiple staff members at the same time. Staff can use approved barcode scanners or smart phones to order products, stocktake and edit stock quantities.
  • Be systematic about managing stock activities by scheduling tasks such as conducting category reviews, auditing products with low gross profit margins, selecting products for a promotion, organising periodic stock count of an aisle, etc). Share these scheduled events using the Minfos calendar.
  • Avoid entering products incorrectly by leveraging a product information repository like the Minfos Product Catalogue to access correct product names, PDEs, barcodes, etc.

 

Smart ordering and receipting stock

  • Setup product categories and locations to run efficiently reports and print bulk shelf labels.
  • Save time and avoid stocking issues by using your POS system such as Minfos to generate orders (consider generating orders based on stock required for a specific number of days, product categories and products with negative stock on hand).
  • Use order templates to pre-set orders, which can be used to automatically generate orders on pre-scheduled dates and frequencies.
  • Create orders using a tool such as Minfos ePad to add products to an order easily and quickly from various locations during the dispensing process.
  • Streamline your stock receipting process, locate products quickly and isolate high-cost items when you receive multiple totes from Symbion using a tool such as Minfos/Symbion SSCC tote barcode integration.

 

Review reports to efficiently reconcile stock

To keep stock issues to a minimum, use your POS software reports to:

  • Keep an eye on products that are expensive, slow moving and top sellers.
  • Conduct product audits to quickly identify discrepancies that need investigation (eg. theft, damaged product(s), entry error, etc.).
  • Find duplicate product stock cards and merge where necessary.
  • Investigate and action products with negative stock on hand, variances and stock that is considered dead, dated or damaged.

 

Backup your stock management data

Always backup your POS software data using a service such as Minfos Cloud Backup. This automatic back up service allows you to offload the worry of backing up data daily.

 

If you enjoyed this post, you can learn more about how to create a simple and actionable stock management plan here.

 

Looking to gain control of your inventory? Minfos software enables you to manage every aspect of your pharmacy – from dispense to retail. Let us show you a demo.

 

All advice provided is general in nature and is not intended as legal advice.

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Improve and maintain accurate inventory

 

Are you confident that your pharmacy is maintaining accurate stock on hand records? If not, you may have a problem. One that can potentially flow on to other areas of your business and cause issues such as over or under stocking products, inaccurate reporting, inefficient use of staff time – all of which can ultimately impact your pharmacy’s cash-flow.

 

In this two-part blog post, we will first provide a simple and actionable stock management plan. In the second article, you can learn about Strategies to control your inventory.

 

Assess the efficiency of your current stock management processes

To understand whether your pharmacy has issues with its stock management processes and to identify the root cause of the issue, it is useful to undertake an audit of your current situation. In your audit, consider including questions such as:

  • How often do you count your stock (e.g. monthly, quarterly, annually) and is your stock on hand accurate?
  • Do you have a list of priority items that you stocktake more frequently? (e.g. high-cost items, short-dated products, top sellers)
  • What tools in your POS software can you use to manage your inventory? (e.g. setting MOQ and min/max thresholds, product catalogue to manage barcodes, stocktaking barcode scanner)
  • What reports are you reviewing before you place an order to ensure you are stocking the right items? (e.g. reports on seasonality sales, monthly sales, top sellers, KVI)
  • How effectively are you categorising products? (e.g. use category reports to ensure you have the right assortment of products in each category to meet demand)
  • What are your pain points? (e.g. theft, holding excessive stock, stock outs, duplicated stock cards)
  • Is there an easier way to receive stock? (i.e. as receipting orders is a time consuming activity we offer Minfos/Symbion SSCC Tote Identifiers integration to streamline the process. This feature makes it easy to receive multiple tote orders and locate high-cost items.)

 

Create an action plan

Once you have the answers to your audit, create a documented action plan that details:

  • Issues: outline the problems you have uncovered in your stock management processes
  • Improvement actions: list the actions you will take to address these problems from your audit
  • Responsibility: ask staff to volunteer or assign staff to tasks
  • Priority: assign a priority to each task – consider: risk, importance, benefit, time
  • Timeframe: decide how long each task will take and assign a completion date

 

Communicate the new inventory management processes

To effectively manage new inventory processes:

  • Let your staff know of the upcoming changes and capture their input
  • Update any process and procedure documents impacted by these changes
  • Allocate a segment of your staff meeting to discuss stock management
  • Organise training on any new processes that deviate from the old method

 

Looking to gain control of your inventory? Minfos software enables you to manage every aspect of your pharmacy – from dispense to retail. Let us show you a demo.

 

All advice provided is general in nature and is not intended as legal advice.

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Run profitable promotions

 

In this article, we will cover key steps to running a promotion without sacrificing profits.  

 

Set your goal

Promotions are a good way to reduce dead, short-dated or excess stock. They can also be used to attract customers or incentivise them to increase their basket size.

 

Start by creating a yearly retail marketing calendar to track seasons, holidays and events (e.g. Christmas, back to school). Use this calendar to plan promotions for upcoming events and incorporate ad hoc promotions as the schedule permits.

 

Plan your promotion

Select the type of promotion you plan to run and check that the promotion price has an acceptable GP%. In Minfos, you can check whether the reduced price meets your acceptable GP% range before you apply the new price. Check that all promotional products have shelf talkers.

 

The below sections offer a few promotional campaign ideas for the hay fever season.

 

Bundle offer using multi-buy for dollar or percentage amount

You could create a hay fever survival bundle and include products such as hay fever tablets, immune boosting vitamins, eye drops, nasal spray, soothing cream, pocket tissues, etc. Offer a bundle deal that discounts 5% of the total value of the bundle.

 

Dollar or percentage off the full retail price

You could create this type of offer, when you have excess stock. For example, you may have an excess of nasal spray. While you may be able to use this for the following season, you want to reduce the stock levels now. To do so, you could put this on promotion and apply 5% or $2 off the retail price – as long as it is not less than your minimum gross profit margin.

 

Complementary products

Sell more by leveraging companion products. In Minfos, you can link companion products to appear as a prompt when one item in the group of selected products is scanned at the Till or Dispense. This reminds the staff member who has recalled the product to recommend companion products where appropriate.

 

Implement the promotion

Brief your staff before the promotion so they are aware of the start and end dates, the products included and the location of the products on promotion. The in-built Minfos calendar is a great tool to help you share key events with your staff.

 

Tell your customer’s about your offer using in-store posters, email campaigns, website, and social media. Then, be strategic about product placement in your store.

 

Track your results

Analyse your promotion to identify what worked and what you can improve for next time. In Minfos, using a single report you can analyse sales before, during and after the promotion.

 

Looking to create and manage profitable promotions? Minfos software enables you to manage every aspect of your pharmacy – from dispense to retail. Let us show you a demo.

 

All advice provided is general in nature and is not intended as legal advice.

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Manage healthy gross profit margins

 

Pharmacies use a number of different pricing strategies to drive sales. Keeping your gross profit margins in check can help you meet your profitability goals.

 

In this article, we will explore a few techniques you can use to improve your gross profit margin.

 

Assess your current margins

The ideal place to start is to conduct an analysis of your current gross profit margins across your business. In Minfos, we have a number of reports and tools that can be used to help your pharmacy with this evaluation. Consider analysing:

  • Products that have a negative gross profit percentage (GP%)
  • GP% of high-cost items
  • All products by GP%
  • Top best and worst selling products by GP%
  • Top best and worst selling products within each category by GP%

 

The objective of this analysis is to identify your strongest and poorest performing products/categories and their respective gross profit margins.

 

Use your findings and investigate why these products are not selling, then create a strategy to address these issues. Some strategies to manage low GP% products could include keeping the item stocked as a strategic loss leader, eliminate products from your offering or increase product visibility.

 

Avoid markdowns

There are a myriad of reasons why you may have decided to markdown a product. Perhaps it’s a slow mover, nearing expiry, a clearance item or old stock. Whatever, the reason, markdowns affect margins. 

 

For products you currently need to markdown, consider including these products as part of a bundle offer where your margin is not compromised.

 

Smart discounting

Focus on pricing your discounted products in a way that encourages your customers to increase their basket size or transactional value.

 

Order right

Take a look at your past sales performance to understand customer demand for a particular period or season and order based on what sells well. Use your POS software to maintain appropriate stock levels. In Minfos, we provide tools and reports to help you maintain the right level of stock for your pharmacy.

 

Reduce operating costs

  • Plan ahead for the year – e.g. create a strategy for high-performing seasonal stock
  • Leverage supplier relationships – e.g. request better trading terms
  • Eliminate waste – automate processes to focus on more valuable activities

 

We hope you have found the above information on how you can improve your profit position useful.

 

Looking to easily manage healthy gross profit margins? Minfos software enables you to manage every aspect of your pharmacy – from dispense to retail. Let us show you a demo.

 

All advice provided is general in nature and is not intended as legal advice.

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Effectively communicate with staff

 

Did you know that highly engaged teams deliver 21% greater profitability? Fact, according to a recent Gallup report.

 

The report also found that employees are more productive, customer-focused and compliant with business processes when they are provided with clear directions, tools and support.

 

Let’s take a look at some ideas on how you can effectively communicate information about your pharmacy, processes, products and services with your staff.

 

Conduct an internal communications audit

Reduce staff frustration by giving them quick and easy access to information they need to deliver a superior experience to customers. To find out if your staff have access to the information they need to do their job, start with an audit:

  1. Compile a list of all channels you currently use to share information with your team.
  2. Conduct an audit of these channels – ask your staff what is and isn’t working for them.
  3. Gather ideas from your team – are there other channels or methods you could try using such as daily team huddles or adding tasks and events to the Minfos calendar?
  4. When you have the list of gaps (about product, procedures, services, etc), prioritise your list and work with your staff to address these issues.

 

Share information regularly

Keep your staff in the loop and well engaged by:

  • Building a constructive working relationship with your staff through regularly meetings.
  • Ensuring information is easily accessible and easily noticeable, e.g. ensure your staff notice board is always kept up-to-date.
  • Providing a weekly or monthly written summary on relevant targets they need to meet, pricing updates, promotions, advertisements, services, upcoming in-store events, etc.

 

Leverage your pharmacy management software

Find out what note functionalities your pharmacy management software offers.

  • Use any notes functionality available in your software. For example, in Minfos you can easily add notes about individual products and customers.
  • Keep your staff informed by using tools such as Minfos calendar, where all staff members can share and view notes on events and appointments.

 

By providing the right information and engaging your staff, you can reap the rewards of gaining a well engaged and high performing team.

 

If you are interested about customer communications, have a read of our article – ‘Why your pharmacy should SMS instead of phoning patients?’

 

Looking for tools to communicate with your staff? Minfos software enables you to manage every aspect of your pharmacy – from dispense to retail. Let us show you a demo.

 

All advice provided is general in nature and is not intended as legal advice.

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