Inventory is often the largest capital cost in a pharmaceutical wholesale business. Yet customers absolutely take it for granted that you will always be able to supply even rare medicine on demand. That’s why clever inventory management promises reduced capital costs and better margins.
There is no distribution business more regulated than yours. Packaging, documentation, transport, even prices are regulated. The fight against counterfeit medicines, while welcome, brings new requirements on labelling, marking and tracing.
It has always been a business where product prices, and margins, constantly fall. But there is a growing trend to use innovative pricing schemes to manage that trend. You need to watch other suppliers and consumer behaviour to stay competitive.
Evolving Pharma Distribution
Patients today demand more say on personal health decisions. That means you must carry a broader range of products including vitamins and health products.
Acceptance of generic substitute drugs is also on the up. These are cheaper but, again, pressurise your margin. But more generic drugs are hitting the market as patent pressure inevitably expires.
There is a trend for pharmaceutical companies to outsource medicine supply logistics to so-called pre-wholesale companies. They make a living by handling high volumes efficiently. They also increase pressure for better supply chain management.
IBS Software
IBS specialises in pharma business software. IBS Pharmaceutical matches, on average, a staggering amount of pharma wholesalers’ specific requirements out of the box. It’s a distribution solution for fast implementation and integration across the world.
- Customer service has to remain top priority while precision inventory management cuts costs. One typical IBS pharma client cut their costs by 25% without any noticeable effect on their quality of service.
- Enormous volumes and fast turn-around mean you need tight warehouse routines and accurate procurement. IBS Pharmaceutical is record-breaking, handling two million order lines with a response time of 0.04 seconds.
- You need to understand and comply with complex global regulations and regional variations without fuss. You need a system that will automatically handle different languages for you.
- You must be able to implement innovative pricing structures, forecast their impact on your ability to supply and analyze effect on price and margins.
- Batch tracking and recall must be flawless and efficient.
Your business and IBS distribution software
IBS experts have worked in the pharma business for years so we understand all this. And because we have a one-on-one relationship with all our customers we learn exactly what you need. We build that knowledge into our technology.
IBS Pharmaceutical uses our Enterprise 6.0 suite for speedy, seamless implementation of precisely the systems you need. It is modular, so it can grow as you grow. It comes ready to cope with cross-border financials and multiple distribution centres. Ultimately, it has been tailored especially for your business needs.