Simple Tips for Managing Stock and Supplies in a PCD Franchise

It takes more than just marketing medicines to be a successful PCD Pharma Franchise. One of the most critical aspects of the business is stock and supply management. If you manage them right, you'll keep from running short, minimize wastage, and enhance customer satisfaction. Proper stock management keeps your business operating efficiently, ensures customers are always supplied on time, and propels you to grow faster in the competitive pharma industry.

In this blog, we will discuss simple and implementable suggestions for stock and supply management in your PCD Pharma Franchise. Whether you are starting new or already operating a running franchise, these suggestions will assist you in organizing your system and minimizing losses.

Why Stock and Supply Management Matters

When you do not control your stock, you have issues such as out-of-date products, unexpected shortages, or overstocking. These can result in financial loss and dissatisfied customers. In a business where prompt supply of medicines is highly important, effective stock control can be the secret to success.

Let us see some obvious reasons why stock and supply control is important:

• Reduces wastage: Most pharmaceutical products have an expiry date. Unused stock results in loss of funds.
• Improves cash flow: You don't keep too much money tied up in unused stock.
• Builds trust: Your customers and distributors can trust you with on-time delivery.
• Increases efficiency: A streamlined process makes operations quicker and simpler.
• Reduces operational cost: Adequate planning prevents emergency buying and saves money.

Tip 1: Keep Real-Time Stock Records

One of the easiest and best methods to control inventory is to monitor your inventory in real-time. Having a notebook might suffice initially, but software will keep you better organized.

How to do it:

• Utilize inventory control software that monitors your incoming and outgoing inventory.
• Have low-stock items set up to alert you.
• Create a stock update every time a sale or new shipment occurs.

With software, you have a clear view of medicines available, expiry date, and order status—all at one location.

Tip 2: Make a Monthly Stock Plan

Planning is essential in the PCD Pharma Franchise model. By creating a monthly plan, you can accurately estimate how much stock you'll require and when.

How to implement:

• Check sales of the previous 3 months.
• Consider seasonal demand (such as cold and flu drugs during winter).
• List products that require refilling.

This ensures you do not experience surprise shortages and you can plan with your suppliers. It also prevents your business from dead stock.

Tip 3: Categorize Your Stock

Not everything in the pharmacy is equal. Some products have greater demand, some are costly, and some expire quickly. Segment your stock into categories so that you can handle them more effectively.

Typical categories:

• Fast-moving items: They are sold easily and require frequent replenishments.
• Slow-moving items: These take time to move and need to be ordered in limited quantities.
• Near expiry items: These must be sold first to avoid wastage.

With this strategy, you will be able to determine what needs to be given preference while replenishing or discounting.

Tip 4: Set Minimum Stock Levels

Going out of stock at the wrong moment can impact your sales and your image. To avoid this, establish minimum quantities for each item. Reorder it as soon as stock drops to this level.

How to do it:

• Calculate average sales per item.
• Determine how long the supplier requires to make the item available.
• Establish a minimum threshold so you always have sufficient stock until the new shipment is received.

This is an easy rule, but it will prevent you from a lot of future issues.

Tip 5: Rotate Your Stock (FIFO Method)

FIFO is "First In, First Out." It means you get rid of the old stock first before you get rid of the new stock that has just arrived. This is very critical in the pharmacy business since products do have expiry dates.

How to implement:

• Put the old stock in front and new stock at the back.
• Train your personnel to sell older stock first at all times.
• Check expiry dates on a regular basis.

This practice minimizes waste and keeps product quality high.

Tip 6: Select Trustworthy Suppliers

Supply management begins by selecting the appropriate supplier. Delivery delays can bring your operations to an end. Always use suppliers who deliver on time, have good product quality, and are quick to respond to inquiries.

How to use:

• Research suppliers prior to signing an agreement.
• Request trial deliveries to inspect quality and timing.
• Have a backup supplier for emergency situations.

A reliable supplier ensures you have a good reputation and satisfied customers.

Tip 7: Check Expiry Dates Periodically

Expired products are one of the biggest hazards in pharmaceutical stock. Selling expired products harms your brand and even gets you into legal trouble. Always check expiry dates carefully.

How to apply:

• Keep a product-wise list of expiry dates.
• Go through this list once every week.
• Provide discounts for items nearing expiry to sell them quickly.

This prevents you from losing money and keeping your stock fresh. 

Tip 8: Hold Regular Physical Audits

Even when using software, don't forget to give manual checking of stock its due importance. Occasionally software can display wrong figures due to incorrect entries. A physical audit dispels such suspicions.

How to implement:

• Fix a specific day every month for physically verifying the stock.
• Verify the actual number against what's in records.
• Update your records according to the audit.

Physical checks allow you to locate lost stock, outdated medicines, and overstocked materials.

Tip 9: Maintain Additional Stock of High-Moving Products

Certain pharmaceutical products move more than others. These could be fundamental painkillers, antibiotics, or supplements. Maintain additional stock of these products so that you never fall short.

How to use:

• Identify your top 10 products in demand.
• Always order a bit extra for such products.
• Raise their restock frequency.

This allows you to serve frequent customers better and boost your sales per month.

Tip 10: Utilize Simple Inventory Tools

If you are a beginner and can't afford software, make do with free tools such as Google Sheets or Excel. These will allow you to keep records of inventory, expiry dates, and sales.

How to implement:

• Set up columns for the product name, batch number, expiry date, quantity, and supplier.
• Update it every time you add or sell stock.
• Share the sheet with your team to keep them all updated.

The simplest tools can be mighty when used regularly.

Tip 11: Effectively Handle Returns

There will be times when you need to return items because they got damaged or are near expiry. Have a good return process and policy in place.

How to use:

• Inspect each delivery for damages before accepting.
• Keep a return record with reasons and batch numbers.
• Follow up with your supplier for replacement or credit note.

This keeps your records clean and prevents confusion down the road.

Tip 12: Train Your Staff

Your staff needs to know your stock and supply procedure. If they don't, there will be more mistakes. Train them to treat medicines gently, record accurately, and implement FIFO.

How to do it:

• Give them monthly training or refresher courses.
• Give them written instructions and best practices.
• Have them pass small quizzes or checks that they are using the system.

Trained staff cut errors and enhance your business performance.

Tip 13: Keep Track of Market Trends

Market trends keep fluctuating. New pharmaceutical products  hit the market, while others fall out of trend. Stay updated to restock accordingly.

How to do it:

• Track pharma news websites and newsletters.
• Discuss demand with your customers and suppliers.
• Visit pharma expositions and seminars.

By staying informed, you will always be prepared for changes in demand.

Tip 14: Do Not Overstock

Ordering too much stock may seem like a good idea to get discounts, but it also increases the risk of expiry and damages cash flow.

How to implement:

• Order based on sales data and minimum levels.
• Avoid placing large orders for slow-moving products.
• Check your warehouse space before ordering.

Balanced ordering improves profits and reduces waste.

Tip 15: Use Cloud-Based Systems

Cloud-based inventory systems enable you to monitor your stock at any time, anywhere. They also give real-time reports, which enable you to make informed decisions.

How to do it:

• Select a mobile-accessible software.
• Ensure that your personnel are trained to use it.
• Have automatic backups so that you don't lose data.

These systems give you control and flexibility, particularly for expanding businesses.

Tip 16: Build Strong Relationships with Distributors

If you desire your business to expand, establish positive relationships with your distributors and Stuckists. This allows better collaboration and quicker resolution of issues.

How to do it:

• Keep in regular and clear contact.
• Address problems with respect and patience.
• Give correct delivery times and hold to them.

Healthy relationships translate to smoother operations and business prosperity.

Tip 17: Have Emergency Stock of Important Medicines

Emergencies may occur at any time. In such times, having a small emergency stock of vital medicines comes in handy.

Implementation steps:

• List 10-15 vital medicines.
• Maintain a small buffer stock always.
• Use FIFO to rotate this stock from time to time.

This makes your franchise more dependable and reliable to your customers.

Final Thought

These tips also make your franchise more efficient, profitable, and future-proof. If you are planning to grow big, implementing better practices in handling stocks can provide you with a strong competitive advantage.

Regardless of whether you are going to expand or simply enhance your existing process, always strive to collaborate with the best PCD pharma company in Ahmedabad. Being efficient and professional in handling stocks will always serve you well in the future, particularly in the ever-growing pharmaceutical business.

If you found this blog helpful and want expert help for stock management or want to associate with a trusted partner in the pharma space, feel free to contact us. Our experienced team is ready to guide you through the right inventory setup and help you make your PCD Pharma Franchise a lasting success.