All business enterprises are going through the fast pace of technological revolution. It has now become a necessity for medical startups, small, medium, and even large enterprises to select a software solution according to their business needs.
You have all types of software available in the market for your retail, wholesale medicine business. But you need software that not only serves patients with the right medication and dosage but gives you a system that provides a continuous supply of stock and ensures timely delivery.
In this blog, we will talk about the wholesale medicine software that is majorly used in pharmacies, medical manufacturers, and distribution businesses. The software plays a vital role in this process of delivering medicine to the end customers/patients. The other robust solution that any medicine wholesale software provides is to streamline operations like:-
- Generate invoices/bills
- Manage accounts
- Track batch
- Salt-wise inventory management
- Generate reports on your sales/purchase
- Expiry Management
- Reorder Management
- Effortless GST returns filling & more.
Here I am going to start discussing the wholesale medicine store software benefits. Also, we will see how it works towards making your wholesale medicine business a successful venture.
But firstly, you need to understand the wholesale medicine business challenges. It is required to know because it enables you to compare software for wholesale medicine with your usability criteria.
Challenges faced by the business owner in managing their wholesale pharmacies
In today’s global supply chain world, every modification made to businesses reflects higher customer retention and customer experience with the business. Let’s look at some of the challenges that many businesses face.
The challenge of identifying customer demands
For the medical industry, knowing the end-user requirement plays a critical role in determining the actual market demand. It ensures clear communication between pharmacies and their suppliers to ensure they have enough stock of demanded items.
But the question is where you are going to get that data that gives you real demand???
You go through the customers’ buying patterns, do your stock analysis, and make a record of fast-moving and slow-moving items. Manually, it is a complex task and more prone to error. Thus, a software system is required that automate all the tasks associated with business sales/purchases and customer buying patterns.
With the needs of the customer in mind, medicine business owners will be able to prioritize which products to have in stock and match the demand.
Obtaining a professional way of handling medicines
Handling the wholesale medicine business is a challenging task. There are many sets of different drugs, which need to manage in such a way that there is no drop in the continuous supply of medicines. It is a critical business segment where no place for mistakes. Thus, it is a challenge for the medicine business owner to have to adopt a system that manages their medicines and related task to handle them.
Avoid overstocking
Overstocking is a common problem for any business. Without a proper monitoring system, wholesale business owners are unable to know how much stock they already have. In this condition, they order stock and suffer from overstocking. A software solution is important to get a proper report on sold and unsold items. It tracks stock and alerts management about stock availability.
Easing prescription management
Prescription management is a critical part of any medical business. You must have a system that saves customer details with a prescription. So that if the same patient/retailer comes again to you, you can deliver their medicines quickly. It saves both time and money. This way, you will aware of stock availability in advance. Also, it will help when retailers come to exchange/return medicines.
Manually, it is not possible. It is more prone to possible errors. Thus, you need software that maintains your all records and gives you a quick view of the order fulfillment.
Receiving real-time data visibility and updation
Having real-time data visibility is vital for businesses. If you’re lacking with it, you cannot able to monitor your drug stocks and their details like their salt name, manufacturing date, expiry date, available stocks, price, and more.
Thus, a system is required that gives you real-time visibility on business data. It will help you to better strategize your business decisions. Using the software ensures smooth management of inventory, billing, accounting, tax filing, and more.
Ensuring accuracy in handling drugs and other data
Medicines are a more sensitive area that needs accurate handling of drugs and data associated with them. It is required for every healthcare industry to deliver the right medicine, to the right people, at the right time. To ensure accuracy, healthcare professionals need to automate their business processes involved in moving and handling medicines. A software solution is the only solution to enhanced accuracy.
Important benefits of Wholesale Medicine Software
In the wholesale medicine business, every process is interlinked and collectively generates results for the business. From acquiring stocks/raw material from suppliers to its successful delivery contains many processes. These processes include inventory management, billing, expiry management, tracking of goods, getting real-time availability & more. Thus, a system has required that track and manage the entire wholesale business systematically.
It reduces operating costs.
A wholesale medicine software helps businesses in saving their operating costs. It setups the system that automate the repetitive and time-consuming process. It offers robust accounting that gives the business real-time stock updates. It manages expenses and is better able to forecast their expenses within budget.
It streamlines supply chain processes.
A wholesale software solution gives medicine businesses the capability to manage their supply chain. It optimizes the supply chain processes from purchasing goods from suppliers to shipping them to customers and makes them simpler. This way, you will get real-time information (location, billing, delivery date, etc.) about the product.
It optimizes inventory management.
Wholesale business; especially the medicine business consists of a large inventory of multiple brands, salts, and compositions. The software automates the inventory procedures and allows you to track stock levels in real-time. It makes it easier for you to keep a steady inventory. This way, you can get alert about your fast-moving and slow-moving items. Also, it helps pharmacists in the continuous delivery of medicines and related services.
It simplifies sales processes.
The software gives sales managers and the entire team knows more effective use of customer buying patterns. With this data business owners can able to enhance their sales, give personal attention to regular customers, and make discounts/offers/loyalty programs to attract new customers.
It enhances visibility across the business.
A wholesale software for your medicine business monitors the entire process. It comes with a Reporting feature that gives businesses a quick look into the finances, procurement, inventory, sales, employees, etc. This way, it enhances visibility and ultimately helps you make better business decisions.
It facilitates real-time information.
The software facilitates more visibility into the entire medicine system by facilitating real-time insights. You can get immediate information about any sales order and know its billing and inventory status.
It improved customer satisfaction.
The medicine software helps you to improve the satisfaction of your customers because orders can be fulfilled on time; no more delays due to untracked orders or product shortages. Also, the software provides multiple payment features. This facilitates customers’ freedom to take options for smooth checkouts.
It offers complete GST filing and returns procedures.
Now, almost all wholesale medicine software comes with a GST billing feature. It eases the GST return filing for wholesale medicine businesses. It ensures no error in filing the GST.
Bottom Line
In every wholesale medicine business, there is a need for medicine distributor software that automates their business. It is because of handling manually such large inventory of medicines, medical equipment, expiry of medicines, billing, etc. Is a tedious task.
So, wholesale medicine software makes your system easy and organized. It solves all the problems of every medical store in a very simple and user-friendly way. If you’re looking for free wholesale medicine billing software then contact the SWIL team for its RetailGraph wholesale medicine software.
SWIL India provides medicine wholesale software free download scheme for 45 days. This makes every business owner get more detailed information on software usability.
