It is a very common phenomenon of facing stock wastage issues in the pharmacy industry. The main cause behind this problem is over the prediction of the expected sales and loyalty with the current supplier.
But it is a fact that control on the stock wastage leads to the profit margins and reduction on the variable cost. Ravi Morisetty implements strong control over such wastage and loss.
5 Easy Ways To Tackle The Aging Stock
1. Purchase Order - Ravi Morisetty as a pharmacist suggests that there should be wise control over the purchase order as per the investment power and other factors.
2. Market Research - A smart market research must be done before making orders for the medical stock orders. You can make a list of trusted medical brands and products.
3. Competitive Analysis- Ravi Morisetty and many pharmacists do a competitive analysis to control the wastage and stock aging.
4. Quality Warehousing- Ravi Morisetty has done a quality warehouse setup to keep the medicines in the best condition.
5. Focus on Sales- It is better to focus on the maximization of the sales as per the pharmacist Ravi Morisetty. The more sales can control stock aging well.
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