Inventory Management Best Practices for Year-End

With all the hustle and bustle of this time of year, it can be easy to forget that year-end is coming up, and it’s time for pharmacies to manage inventory to ensure the business is set up for success in 2022.

As your partner in inventory management, RxPost has created a checklist of best practices for pharmacies to reduce cost and improve operational efficiency:

• Get organized for the new year, clean up your inventory, organize medication shelves, alphabetize shelves, and manage fast moving medications.
• Clean up, organize, or add reorder tags for fast and efficient ordering practices
• Conduct end of the year physical inventory counts
• Check for expired or expiring medications
• Pull excess inventory to send back to wholesaler (or add to RxPost for better incentive)
• Adjust inventory to reflect upcoming seasonal changes in demand
• Don’t forget the out of sight medications (Organize refrigerated meds, add high dollar unable to return refrigerated meds to RxPost platform)
• Check and clean up will call bins for medications never picked up for shelve restock

As a service to our customers, RxPost offers a free consultation.  Simply create a free profile on RxPost and let us know you’d like a free consultation.  At a customer’s request, RxPost can also help with loading customer inventory into the RxPost system. 

Make 2022 the year you achieve a perfectly organized inventory, reduced costs and improved efficiency by following these inventory management best practices.  Get started with RxPost today!

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