Sanders Pharmacy is an award-winning community pharmacy in Te Awamutu. With continued growth and the changing nature of pharmacy retailing, Sanders needed a better system to manage retail inventory performance.
Sanders Pharmacy is an award-winning community pharmacy in Te Awamutu providing dispensing and healthcare services and a quality range of retail health and beauty products.
Pharmacy owner Gemma Perry and her team are dedicated to providing great service to their community. The pharmacy is open 7 days a week and works closely with the doctors at the adjacent medical centre.
As a result of continued growth in prescription numbers and the changing nature of pharmacy retailing, Sanders Pharmacy needed to develop a better system to manage and monitor retail inventory performance.
The pharmacy was carrying more than 4,700 products with over $40,000 Dead Stock. Stock levels were increasing and the shop area was beginning to feel cramped and cluttered.
Sanders Pharmacy engaged the RPM Retail consultants to advise on better buying and merchandising of a core range of 1000 top-selling products using analysis of current retail performance using the RPM benchmarking software.
By following the RPM Retail ranging advice and planograms, Sanders Pharmacy has focused on a tighter core range of retail products, and re-allocated valuable shelf space to the best performing products.
Key staff are using the RPM Retail insights, dashboards and performance reports for real-time visibility on their KPIs and the ability to drill-down to actionable information.
Since implementing the new layout and planograms, Sanders Pharmacy has improved their sales performance in all OTC (over the counter) categories and significantly reduced their retail stock levels.
The pharmacy’s retail reporting is automatically available using the RPM Retail benchmarking software providing a consistent focus on sales and inventory performance.
• OTC sales increased. Up by 9% overall – customers love the new shop layout!
• Better Gross Margin. An extra 2% profit margin on sales.
• Range Rationalisation. The pharmacy operates with 800 fewer SKUs in their OTC categories.
• Less dead stock. Over half of dead stock cleared.
• Smarter Ordering. The pharmacy saves time using the RPM ordering software.
• Consistent reporting. Online access to store KPIs for the pharmacy owner and retail staff.
RPM Retail cloud business intelligence: www.rpmretail.com
Sanders Pharmacy: www.sanderspharmacy.co.nz