Pharmacy intelligence store manager helps in promoting and enhancing the business of the individuals running pharmaceutical business. Some of the ways it helps them run their business with more efficient manners are given as below:-
For recognition purposes:-
· It helps them to recognize their performance versus their competitors.
· They are taking right decisions or not.
· Helps to understand the fact they there are things to learn today that can help him tomorrow for the better business.
· Helps to make comparisons with others in the region.
· The categories they should invest in.
· For improvement in local market position.
· It helps to show localized relevant statistics for their market.
· Highlighting personalized trade area.
Online services help pharmacies to understand business performance and to make a comparison with closest set of competitors and specific and similar pharmacy type comparison in country, region and trade area.
Pharmacy intelligence store manager is simple to use in many ways as:-
1. It makes the information personalized and their data is not accessible to others.
2. Helps to make a business growth comparison with local competitors for the last month.
3. Snapshot gives a one-page summary of key performance driver by department versus local trade area in the most recent month.
4. It gives over-all decline results for loss in RX.
5. Gives category and product insights to compare the sales performance for all categories and products compared to their trade area that is benefiting from trade area’s number one growth product.
6. Price optimization helps to know where their prices lie compared to others and Comparing selling prices for every OTC, health and beauty products to other pharmacies in trade area.
7. Manufacturer service helps to determine from which manufacturer’s brand they should buy into and purchasing from which manufacturer is giving results in stronger sales growth.
8. This intelligence store manager gives customer insights that help to identify the customer’s turnover by disease area, to see detailed breakdown of medicine sales by disease area and fir the identification of disease areas that are under-represented in store.
9. Inventory optimization gives the efficiency in inventory management compared to others and identifies slow moving stock to improve cash flow and keep slow moving products at a minimum.
10. Generic optimization tells how efficient is the use of generic medicines? And gives access to level of generic substitution compared to others and find out how much money can be made by increasing substitution to the best ion the market. It helps to spot potential area for additional saving.
IQVIA pharmacy intelligence store manager gives actionable insights for better business.