Creating a more efficient inventory management process is a combination of technology utilization and business practices.

The benefits of doing so are not insignificant:

  • Less dollars spent on inventory purchases
  • Fewer labor hours dedicated to managing inventory and happier staff
  • Increased inventory turns
  • Less chance of expired inventory
  • Efficient utilization of expensive packaging machines
  • Reduced risk of audit violations and reduced margins

Quantify and qualify your on-hand inventory at any given point with perpetual inventory functionality within FrameworkLTC. 

Turns are a very good indicator of efficiencies. Over the first 6 months of 2017 we averaged between 19 and 20 turns, so from an efficiency standpoint, the implementation of perpetual inventory allowed us to be much more efficient.
— Miriam Cho, Pharm D, Director of Pharmacy, Mac Rx