The most vital concerns of pharmacy industries today are improving inventory management processes particularly in the batch and expiry tracking. These include the following processes:-
1. Batch Management
The inventory system is able to let users to enter different prices and expiry for different batches.
2. Expiry Management
System will allow user to enter manufacturing and expiry date for the item during the receiving or stock IN. For about-to-expire items, the inventory tracking software must trigger and alert the user before they are expired so that proper actions or counter-measures can be taken.
3. Disposal Management
The system does not allow to sale the items that already expired through LOCK function and further actions such as remove from storage rack or return to manufacturer for exchange.
4. Location Management
The inventory management software will direct the user which location to be stored during put-away or which specific location to be located for picking as per dictated by expiry policies.
5. Stock or Inventory Analysis
Demand pattern (Seasonal or ad-hoc), Stock Movement (Fast, Slow or Not Moving), History of items (Quality, Recall), Expiry (Already Expired, Near to expire, Number of days before expire)
6. Real-time Information
Always provide with up-to-date stock information about quantity, expiry, batch, location.