Information in formation – December-2021

It is up to you to decide what is best for your business, such as hiring a new staff member: Looking at your busiest operating times or showing your total scripts coming in or increased GP, this could show you might need some extra hands on deck. Or are you ordering stock multiple times a month, where you could be saving on delivery fees? This is where your data can help make decisions for YOU.

Here is where, if you read your data often, you will pick up on certain patterns. Like when it is high season for certain stock or top products, such as flu medication or when in the month is the correct time to order stock as it may be more likely for patients to come in at that time. A pattern could even be looking at repeat patients, and having an estimated percentage of your repeat returns based on the total scripts captured, which helps you understand your return rate monthly.

As mentioned above, watching the top products being sold in your province can also help you pick up on what you could potentially be stocking. What are the top sellers with their estimated selling price, with an average of how many items are sold per pharmacy. This information could benefit YOU, and keeping an eye on this data will help you analyse customer behaviour in the province or nationally.

With your available data, it allows you to MEASURE. Measuring your success or short falls that are happening in your business. You can see your month on month or year on year growth, seeing if sales are increasing, repeat customers are coming back or if you are over stocking on certain products in your business.