To that end, data can lend a helping hand to pharmacies, enabling them to eliminate guesswork and maintain optimal inventory levels for improved profitability through data-driven decisions. This is what Texas-based Supplylogix sets out to achieve through its Pinpoint suite of inventory management solutions, which leverages data to help pharmacists gain valuable insights and streamline their complete inventory management process. A McKesson Corporation subsidiary, the company’s solutions help pharmacists reduce costs, improve efficiency, and optimize their pharmacy supply chain. “Our solutions help pharmacies unlock valuable insights hidden within their existing data and empower pharmacy leadership to make meaningful supply chain decisions,” states Nathan Chapman, Vice President and General Manager, Supplylogix.
Supplylogix’s ultimate aim is to help pharmacy chains capitalize on their inventory productivity using its highly advanced data-driven SaaS platform. “Our goal is to help take the burden off of pharmacy staff from having to determine the right levels of inventory for each location and allow them to free up time to spend with their patients,” says Chapman.
The company’s cutting-edge Pinpoint suite of solutions encompasses Pinpoint Order®, Pinpoint Transfer®, Pinpoint Audit®, Pinpoint Monitor®, Pinpoint Count®, and Pinpoint Performance®, which provide valuable insights on all aspects of inventory management.
Pinpoint Audit allows pharmacists to keep an eye on the risks of potential diversion and theft of controlled substances, and Pinpoint Monitor helps them track unusual and suspicious orders of controlled substances, thereby reducing the risk of a violation against a pharmacy’s license.
Finally, the comprehensive set of pharmacy inventory reports provided by Pinpoint Performance gives pharmacists visibility into their inventory’s key performance indicators to enhance pharmacy operations. “Last year we were able to help our clients save over a hundred million dollars in inventory costs and improve their inventory returns by up to thirty-five percent. They were also able to get reductions of up to twenty-five percent for all unsaleable returns and write offs,” says Chapman.
In addition to their innovative portfolio, Nathan attributes their track record of successfully optimizing their client’s inventory programs to their experienced account managers who understand the clients’ goals and provide recommendations on how the system should be configured to achieve those goals. In fact, amidst the pandemic, when the pharmacies were facing a rapid surge and then a decline in demand, the Supplylogix team stepped in to support their customers with flexible solutions that could be configured according to their changing inventory needs.
Supplylogix plans to enhance its suite of products by incorporating its customers’ feedback and suggestions to build more innovative products that drive even greater value. “We plan to integrate our solutions with that of other partner companies in the inventory management space to deliver greater value and efficiencies for our pharmacy clients,” concludes Chapman.