Advantages of The Masterstock system.

Cost Savings to a Group.

Excess stock is excess debt. Stock holding levels can be reduced to considerably lower levels than previously possible, accurate reports will provide details of what is in stock, not what was sold. This allows pharmacies to reduce the amount of capital drawn by overstocking products, offering an opportunity to considerably improve cash flow. For example, one recent stock take in a small pharmacy highlighted over €20K of overstocked product which the Pharmacist did not realise was in the Retail part of the pharmacy. What would an immediate 10% lowering of your overall stock do for your cash flow?

Labour costs are reduced in store by allowing staff the ability to access to stock levels from their workstations. This removes the need for staff to manually assess stock quantities on the shelves before ordering or answering customer queries on stock availability. This reduces accidental stockpiling because of poor warehousing. What would two hours labour a day for each store save across your group?

Shrinkage can be individually identified on a product-by-product basis. This will identify the extent of theft or the level of incorrect billing or deliveries.

The overstocking of perishable products will be reduced resulting in less wastage of stock. An instant low-cost solution is offered to pharmacies. No capital investment is required as Masterstock supply the handheld technology and software required.

Advantages for Head Office

Stock-values can be viewed on line 24/7 this provides accurate stock values at month end that are used in the preparation of monthly management accounts.

Slow moving or loss making lines can be quickly identified.

Stock availability can be improved considerably.

Variance reports can be produced after the second Stock-take. This will show Surplus/Deficit on a product-by-product basis, helping to accurately locate stock losses that can be caused by theft or inaccurate billing procedures. Deliveries can also be checked, in terms of accurate recording and receipting.

Total Independence and minimal disruption is offered to the Pharmacy in terms of operation and sales. Staff will only be required to enter deliveries, returns and sales, this minimizes their opportunities to manipulate end of period stock reports.

Advantages For Individual Pharmacy.

The Pharmacy Manager can set up minimum stock levels for automatic reordering. Spot checks can be carried out on stock if they are suspicious of theft on site.

Allows for more accurate monitoring of sales and billing procedures within the pharmacy. Instant access to stock levels at workstations gives speedier response times to sales enquiries.