Benefits of Buying Pharmaceutical Products in Bulk

• Pharmaceutical Products Wholesale Bulk Buying Benefits
• April 22, 2025

The healthcare system is evolving every day with the help of technology. Pharmacies, hospitals, clinics, and healthcare providers are constantly looking for ways to improve efficiency, ensure consistent supply, and manage costs. One proven strategy to achieve this is buying pharmaceutical products in bulk. From cost savings to streamlined operations, bulk purchasing offers a range of advantages that make it an attractive option for healthcare businesses.

Let’s explore the key benefits of buying bulk pharmaceutical products wholesale and why it’s a smart move for anyone in the healthcare supply chain.

Why Buy Pharmaceutical Products Wholesale in Bulk?

Some of the reasons are:

1. Significant Cost Savings

One of the most compelling reasons to buy pharmaceutical products wholesale in bulk is the financial benefit. Pharmaceutical wholesalers and manufacturers often offer substantial discounts on large orders. These volume-based discounts help reduce the per-unit cost of medicines, making it a cost-effective choice for pharmacies and medical institutions.

How it helps:

• Increases profit margins for pharmacies.

• Reduces expenses for hospitals and clinics, especially those with high patient volumes.

• Helps pharmacy owners allocate their funds wisely.

2. Ensured Availability of Stock

Running out of essential medicines can not only damage a pharmacy's reputation but also endanger patients’ lives. Bulk purchasing from pharmaceutical products wholesale distributors helps ensure that frequently used medications are always available on the shelf.

How it helps:

• Minimizes the risk of stockouts.

• Allows pharmacies to manage a sudden spike in demand.

• Builds trust and reliability with customers and patients.

3. Improved Inventory Management

When managed properly, buying pharmaceutical products wholesale in bulk helps streamline inventory processes. With a consistent stock level, pharmacies and healthcare facilities can focus more on customer service and less on frequent reordering. Consider choosing Retailer Shakti, as we provide the best help for pharmaceutical inventory boosting and management for our retailers.

How it helps:

• The frequency of order placement is much lower.

• Simplifies inventory tracking and stock rotation (FIFO).

• Saves time for procurement teams.

5. Support for Long-Term Planning

Buying in bulk facilitates long-term strategic planning for pharmacies and hospitals. With a stable supply of medicines, organizations can prepare better for ongoing treatments, upcoming seasonal demands (like flu or allergy season), or health emergencies.

How it helps:

• Encourages data-driven demand forecasting.

• Allows for the smooth implementation of long-term healthcare programs.

• Helps in planning outreach or health camp initiatives efficiently.

8. Boost in Customer Satisfaction

When customers know they can consistently find their required medicines at your pharmacy or clinic, they are more likely to return and recommend your services. A well-stocked facility signals professionalism and reliability.

How it helps:

• Enhances customer trust.

• Promotes brand loyalty.

• Increases footfall and customer retention.

9. Emergency Preparedness

Whether it's a sudden epidemic, a natural disaster, or a pandemic situation, having a bulk stock of essential medicines can prove to be a lifesaver.

How it helps:

• Enables quick response to health emergencies.

• Supports pharmacy owners during supply chain disruptions.

• Minimizes patient wait times during crises.

Final Thoughts

Buying pharmaceutical products wholesale in bulk is not just about cutting costs, it’s about building a reliable supply chain. Whether you are a pharmacy owner, a healthcare provider, or a medical distributor, adopting a bulk buying strategy can lead to greater operational efficiency, stronger partnerships with suppliers, and improved health outcomes for your customers. Opting for Retailer Shakti can be a smart decision because we offer you a timely supply of top-selling healthcare products along with flat discounts and lot offers. 

However, it’s crucial to manage bulk purchases wisely. Proper storage, shelf-life monitoring, and accurate demand forecasting are key to maximizing the benefits and minimizing risks such as medicine expiration or wastage.

Inventory Management Best Practices for Pharma Wholesalers

• Efficient Pharma Stock Handling Guide
• April 11, 2025

Inventory management is one of the most important steps for pharma wholesalers as it ensures the efficacy of their service.

Managing pharmaceutical inventory comes with its own set of challenges: strict regulations, fluctuating demand, and the risk of product expiry.

In this blog, we’ll walk through the best practices to streamline your inventory management, minimize losses, and maximize efficiency.

What are the Inventory Management Best Practices for Pharma Wholesalers?

Here are a few suggestions on managing inventory for pharma wholesalers:

1. Implement a Robust Inventory Management System

A dedicated pharma inventory management system helps you track stock levels, manage reordering, and reduce manual errors. Look for features like:

• Real-time tracking

• Expiry date monitoring

• Automated restocking alerts

• Integration with suppliers and distributors

2. Follow a FIFO & FEFO Approach

Pharmaceutical products have strict expiration dates. Implementing First In, First Out (FIFO) and First Expiry, First Out (FEFO) strategies ensures that older stock is sold before newer stock, preventing wastage due to expired products.

3. Maintain Optimal Stock Levels

Stockouts can disrupt business, while overstocking increases the risk of expiry for pharma wholesalers. Use demand forecasting tools to analyze purchase patterns and seasonal demand to maintain just the right amount of stock. In this regard, consider Retailer Shakti because you will be able to restock your inventory with access to the best offers on high-demand products.

4. Ensure Regulatory Compliance

The pharmaceutical industry operates under strict regulations. Keep detailed records of inventory movement, batch numbers, and supplier details to stay compliant with FDA, WHO, and local drug laws.

5. Optimize Warehouse Storage

A well-organized warehouse improves efficiency and minimizes errors. Best practices for pharma wholesalers include:

• Storing temperature-sensitive medicines properly

• Labeling products clearly

• Implementing barcoding or RFID tracking for quick scanning

6. Strengthen Supplier Relationships

Reliable suppliers help maintain consistent stock levels. Build strong relationships with multiple vendors to prevent supply chain disruptions. Also, negotiate flexible payment and delivery terms for better inventory control.

7. Conduct Regular Audits

Frequent inventory audits (weekly, monthly, or quarterly) help identify discrepancies and reduce losses. Implement both manual and automated audits to ensure stock accuracy.

8. Leverage Data & Analytics

Use analytics to track demand trends, seasonal spikes, and slow-moving stock. Advanced AI-driven inventory management tools can help predict future demand and prevent unnecessary stockpiling.

9. Safe Product Storage

Proper storage conditions are crucial to maintaining product integrity.

• Temperature-sensitive medicines (like vaccines and biologics) must be stored in cold storage units.

• Dry storage areas should be free from moisture and direct sunlight to prevent product degradation.

• Separate hazardous materials from regular stock to prevent contamination.

5. Choose the Best Warehouse Location

A strategic warehouse location can optimize supply chain efficiency. Pharma wholesalers should consider:

• Proximity to major transportation hubs for faster delivery.

• Easy accessibility for suppliers and distributors.

• Adequate space for organized storage and future expansion.

What are the Benefits of Streamlined Pharmaceutical Inventory Management?

The benefits of having a streamlined pharmaceutical inventory management system are as follows:

·         It helps in improving productivity.

·         An inventory management system automates the working process

·         It helps in cost reduction too.

·      With a streamlined inventory, you can easily track the report of drug consumption and can restock accordingly.

To Wrap Up

Effective inventory management is the backbone of any successful pharmaceutical wholesaler. By integrating smart technology, following best storage practices, and staying compliant, you can optimize operations while ensuring that life-saving medicines reach those in need on time. 

Want to streamline your inventory management? Opt for Retailer Shakti, a dedicated online platform to buy wholesale medicines and OTC products with guaranteed discounts, fastest delivery, and complete support for your inventory. To know more, contact us now.

Citation: https://www.researchgate.net/publication/365176036_Review_Article_on_Pharmaceutical_Inventory_Models 

How to Choose the Right Pharmaceutical Wholesaler for Your Business?

• Key Factors to Consider When Selecting a Reliable Pharmaceutical Wholesaler
• March 26, 2025

Not all pharmaceutical wholesalers are the same—are you choosing the right one?

A reliable pharmaceutical wholesaler is crucial in keeping your business running smoothly. From ensuring a steady stock of quality medicines to maintaining compliance with regulations, the right wholesaler can make all the difference.

But with so many options available, how do you know which one is the best fit for your business?

In this guide, we will explore the key factors to consider when choosing a pharmaceutical wholesaler or an online platform for wholesale medicine supply, helping you make a confident and informed decision.

How to Choose the Right Online Pharmaceutical Wholesaler?

Choosing the right pharmaceutical wholesaler includes carefully checking a few important factors such as reliability, service, and trust. Let’s discuss it more:

1. Start with Researching the Quality Standards

Researching the quality standards before selecting a pharmaceutical wholesaler is essential because you must source original medicines from authentic vendors. 

Certifications like Good Manufacturing Practices, ISO, and Good Distribution Practices will help you understand the quality standards of the pharmaceutical wholesaler you are choosing for your business.

2. Consider Product Range for Better Inventory

You need to consider the wholesaler's product range. A wholesaler should provide a wide range of healthcare products, including OTM, OTC, and prescription drugs. 

With access to different types of medicines, you will be able to maintain an impressive profile among your customers, which is the key to your successful business.

3. Pricing Should Be Favorable but Not Extremely Low

As a business owner, you must choose a pharmaceutical wholesaler who gives you the best deals on medicines. However, this is not the ultimate choice, as you should align the product quality with the price. You should assess every aspect of the wholesale medicine supplier before deciding. 

It is better to avoid sources offering extremely low prices, as there might be a chance of getting low-quality medicines. Also, by choosing an online pharmaceutical wholesaler, you can get the best prices in the market and compare them conveniently.  

4. Convenience Matters – Choose Online Platforms

Talking about convenience, you need to ensure the delivery speed, a better purchasing experience, an option for reordering, etc. In this context, you can consider Retailer Shakti, a reliable online pharmaceutical wholesaling platform, as we ensure the fastest doorstep medicine delivery with zero product damage. 

Also, we have a reordering system where you can, with just one click easily reorder medicines and healthcare products and stock up.

5. Always Check for Reliable Offers and Discounts

To maximize your profitability, opt for a wholesaler that provides regular discounts,bulk purchase deals, and seasonal offers. Exclusive promotions can help you reduce costs and offer competitive pricing to your customers. 

Consider choosing Retailer Shakti in this regard, as we have some of the best deals on the popular brands that can maximize your profit margins.

6. Customer Support and Regulation Compliance

A good pharmaceutical wholesaler should have a responsive customer service team to assist you with orders, inquiries, and potential issues. Whether it's tracking shipments or resolving product concerns, reliable customer support ensures a smooth partnership. 

Ensure that the wholesaler adheres to local and international pharmaceutical regulations. They should have proper licensing and legal certifications to distribute medicines. This guarantees that you are sourcing from a legitimate and compliant supplier.

To Conclude

Hope you have understood the tips on how to choose the right pharmaceutical wholesaler for your business. Apart from the discussed points, you must also consider other aspects such as the wholesaler’s reputation, the efficiency of the supply chain, etc. To ease your effort, you can opt for Retailer Shakti and get the best deals on wholesale pharmaceutical supplies.

In today’s fast-paced market, online pharmaceutical wholesale platforms like Retailer Shakti offer unmatched convenience, competitive pricing, and a seamless ordering experience. With genuine medicines, the best wholesale deals, and a hassle-free delivery system, Retailer Shakti ensures your business runs smoothly.

For any query,contact us at any time, and our team will get back to you soon.

IMPORTANCE OF TRAINING YOUR PHARMACY STAFF

• RetailerShakti
• October 18, 2023

Training in the pharmaceutical business plays an important role since the industry continues to encounter numerous challenges. Businesses must abide by a number of rules and regulations in order to guarantee the reliability and effectiveness of their goods. Moreover, companies run the risk of falling behind their rivals due to intense competition and a lack of qualified and competent staff.

The investment you make in your staff is among the most significant investments you can make for your pharmacy. Employees are the ones who determine how customers are treated at your pharmacy. You may permanently lose a consumer with only one negative experience. On the other hand, a positive interaction might make a valued customer for life.

ROLE OF PHARMACISTS IN DRUG RETAILING

Pharmacist

A Pharmacist acts as a bridge between doctors and patients. They are healthcare practitioners who are in charge of examining prescriptions, organizing the pharmacy, delivering and labeling drugs, and offering information and advice to patients. They monitor patient histories, make sure that medications are used safely, and keep up with advancements in medicine.

Registered Pharmacists

Registered pharmacists hold a license that allows them to sell prescription drugs, regulate drug therapy, and provide patient care services. To make sure patients receive safe and efficient drug therapy, they cooperate with other healthcare practitioners and work in a variety of settings, including hospitals, clinics, and pharmacies.

Few of the major responsibilities of pharmacists are as follows:

➔      Ensuring supply of medicines is within the law

➔      Ensuring medicines prescribed to patients are suitable

➔      Advising patients about medicines, including how to take them, what reactions may occur

➔      Answering patients' questions

STAFF TRAINING

The pharmaceutical business must prioritize training. It promotes compliance, security, excellence, and accessibility to high-quality healthcare. It is important to provide pharmacy staff members regular opportunities to learn and grow, boost employee happiness, enhance productivity and accuracy, and give staff members the tools they need to deliver top-notch service.

Training pharmacy staff is important for reaping the following benefits:

➔      Patient Safety

➔      Regulatory Compliance

➔      Medication Knowledge

➔      Adherence to Best Practices

➔      Efficiency & Productivity

➔      Continuing Education

➔      Handling Emergencies

➔      Better Marketing and Promotion

➔      Improved Customer Service

➔      Builds Pharmacy Reputation

➔      Gains Neighborhood Trust

Staff Training Programs:

There are multiple avenues in the pharmaceutical business that pharmacists should explore, get proper training, and ace the required skills. Following are some of the recommended staff training programs:

• Product Knowledge
• Handling of Prescription
• Communication and Counseling Skills
• Customer Service
• Interpersonal Skills
• Health Promotion
• Sales Promotion
• Inventory Management
• Emergency Response
• Technology & Social Media
• Continuing Education

Product Knowledge:

➢      Knowing Medicine Trade Names and their Companies

➢      Knowing Compliance Related Information

➢      Generic Composition

➢      Interactions and Side effects

➢      Dosage Information

➢      Age Group Suitability

Handling of Prescription:

➢      Understanding Patient’s Health Condition

➢      Reading Doctor’s Advice to understand prescribed medicines

➢      Suggest Alternatives if prescribed medicine unavailable

Communication & Counseling Skills:

➢      Explain complex medical information in a clear understandable manner

➢      Counsel patients, if needed

➢      Suggest when to visit a doctor

➢      Learn basic etiquettes of communication

Customer Service:

➢      Understand Customer Needs and Preferences

➢      Assess their pain points

➢      Suggest Alternatives if prescribed medicine unavailable

➢      Consider Customer Feedback and Suggestion

Interpersonal Skills:

➢      Empathy 

➢      Patience

➢      Attention to Detail 

➢      Problem Solving

➢      Adaptability 

➢      Team Work

➢      Conflict Resolution 

➢      Time Management

Health Promotion:

➢      Preventive Healthcare

➢      Periodic Health Monitoring

➢      Diagnostic Health Check Ups

➢      Diet & Lifestyle Modification

➢      Vaccinations

Sales Promotion:

➢      Recommending Solutions understanding Patient Health Condition and Needs

➢      Visual Merchandising helping product display in store to encourage impulse purchase

➢      Promote Store Sales and Offers, Upcoming store linked Health Screening and Campaigns

➢      Makes customers aware about discounts, offers, rewards and loyalty programs

Inventory Management:

➢      Maintain  Proper Medicine Stock; prevents overstock and stock out

➢      Excess Stock = Raises Cost

➢      Low Stock = Bad Customer Experience

➢      Optimum Stock = Reduces Procurement Cost; Leads to Better Customer Experience

Emergency Response:

➢      Drug Allergy

➢      Providing First Aid

Technology & Social Media:

➢      Billing & Accounting Software

➢      Inventory Management Software

➢      Social Media Promotion

Continuing Education:

➢      Gain knowledge about latest developments in pharmacy and healthcare

➢      Encourage attending workshops, seminars, webinars by medicine companies

A well-trained pharmacy team can assist to improve patient care, decrease errors in medication, and promote patient satisfaction. Pharmacies may enhance the level of patient care they offer by investing in the training of their pharmacist staff. As pharmacy practice is continually changing, pharmacist staff training should be continual.

Additional advantages of pharmacist staff training include the following:

➔      Improved morale and engagement among employees

➔      Lower turnover rates

➔      Increased client satisfaction

➔      Greater reputation of the pharmacy

Overall, investing in staff training for pharmacists is a wise move that may help the pharmacy and its customers.

Promoting Wellness: How Retail Pharmacies Can Offer Preventive Care Services

• RetailerShakti
• October 4, 2023

Retail pharmacies have evolved beyond simply dispensing medications; they have become vital healthcare hubs that promote wellness and preventive care. With their accessibility and the expertise of pharmacists, retail pharmacies are well-positioned to offer a range of preventive care services that can empower individuals to take charge of their health. In this blog post, we will explore the importance of preventive care and discuss how retail pharmacies can provide these valuable services to their customers.

How Retail Pharmacies Can Offer Preventive Care Services

1. Vaccinations: Retail pharmacies can play a crucial role in increasing vaccination rates by offering a range of vaccines, including flu shots, COVID-19 vaccines, and travel vaccinations. Pharmacists can administer vaccines, provide information about vaccine schedules, and help patients make informed decisions about immunizations.

2. Health Screenings: Pharmacies can provide various health screenings, such as blood pressure checks, cholesterol tests, and blood glucose monitoring. Regular screenings enable early detection of conditions like hypertension and diabetes, allowing for timely intervention.

3. Medication Management: Pharmacists can offer medication management services to help patients understand their prescriptions, adhere to their medication regimens, and identify potential drug interactions or side effects.

4. Diet and Nutrition Counselling: Pharmacists can provide guidance on healthy eating habits, dietary modifications for specific health conditions, and weight management.

5. Health Promotion Materials: Pharmacies can offer pamphlets, brochures, and other educational materials on preventive care, healthy living, and disease prevention.

6. Collaboration with Healthcare Providers: Retail pharmacies can collaborate with local healthcare providers to offer comprehensive preventive care services, ensuring seamless coordination of care.

Promoting wellness through preventive care services is a natural extension of the role of retail pharmacies as healthcare providers. By offering vaccinations, health screenings, medication management, and wellness programs, pharmacies can empower individuals to take proactive steps toward better health. Retail pharmacies are uniquely positioned to provide convenient and accessible preventive care, making a significant impact on the well-being of their communities. As the importance of preventive care continues to grow, pharmacies that embrace these services will not only enhance their role in healthcare but also contribute to healthier and happier communities.

How Retail Pharmacies Can Offer Preventive Care Services

• RetailerShakti
• September 15, 2023

1. Vaccinations: Retail pharmacies can play a crucial role in increasing vaccination rates by offering a range of vaccines, including flu shots, COVID-19 vaccines, and travel vaccinations. Pharmacists can administer vaccines, provide information about vaccine schedules, and help patients make informed decisions about immunizations.

2. Health Screenings: Pharmacies can provide various health screenings, such as blood pressure checks, cholesterol tests, and blood glucose monitoring. Regular screenings enable early detection of conditions like hypertension and diabetes, allowing for timely intervention.

3. Medication Management: Pharmacists can offer medication management services to help patients understand their prescriptions, adhere to their medication regimens, and identify potential drug interactions or side effects.

4. Diet and Nutrition Counselling: Pharmacists can provide guidance on healthy eating habits, dietary modifications for specific health conditions, and weight management.

5. Health Promotion Materials: Pharmacies can offer pamphlets, brochures, and other educational materials on preventive care, healthy living, and disease prevention.

6. Collaboration with Healthcare Providers: Retail pharmacies can collaborate with local healthcare providers to offer comprehensive preventive care services, ensuring seamless coordination of care.

**Conclusion**

Promoting wellness through preventive care services is a natural extension of the role of retail pharmacies as healthcare providers. By offering vaccinations, health screenings, medication management, and wellness programs, pharmacies can empower individuals to take proactive steps toward better health. Retail pharmacies are uniquely positioned to provide convenient and accessible preventive care, making a significant impact on the well-being of their communities. As the importance of preventive care continues to grow, pharmacies that embrace these services will not only enhance their role in healthcare but also contribute to healthier and happier communities.

Tips for Improving Customer Experience at Your Retail Pharmacy

• RetailerShakti
• September 5, 2023

In today's competitive market, providing excellent customer experience is essential for the success and growth of any business, including retail pharmacies. A positive customer experience not only leads to customer loyalty but also attracts new clients through word-of-mouth recommendations. In this blog post, we will discuss essential tips and strategies to enhance the customer experience at your retail pharmacy, fostering customer satisfaction and long-term success.

1. Create a Welcoming and Clean Environment

The first impression matters. Ensure your retail pharmacy offers a clean, organized, and welcoming environment for customers. A well-maintained space not only promotes a sense of trust and professionalism but also makes customers feel comfortable during their visit.

2. Train and Empower Your Staff

Well-trained and knowledgeable staff play a crucial role in delivering a positive customer experience. Invest in comprehensive training programs for your employees to enhance their product knowledge, customer service skills, and communication abilities. Empower your staff to make decisions that benefit the customer, creating a culture of customer-centricity within your pharmacy.

3. Provide Personalized Service

Every customer is unique, and tailoring your services to their individual needs can make a significant difference. Encourage your staff to engage in personalized interactions, remembering and addressing customers by their names whenever possible. Taking the time to understand customers' health concerns and preferences can help build strong, long-lasting relationships.

4. Offer Efficient and Timely Service

In a fast-paced world, customers value efficiency and promptness. Minimize waiting times by optimizing workflows and streamlining processes at your pharmacy. Ensure that prescriptions are filled accurately and in a timely manner, and offer services like online prescription refills and mobile notifications to keep customers updated on their order status.

5. Implement Technology Solutions

Leverage technology to enhance the customer experience at your retail pharmacy. Implement pharmacy management software to track inventory, manage customer profiles, and streamline prescription processing. Offer online ordering and home delivery services to provide convenience and accessibility to your customers.

6. Focus on Medication Counselling

Pharmacists are trusted healthcare professionals, and their expertise is highly valued by customers. Encourage your pharmacists to engage in medication counselling with customers, providing valuable information on dosage, potential side effects, and drug interactions. Educating customers about their medications enhances their confidence and contributes to better health outcomes.

7. Develop a Loyalty Program

Implementing a loyalty program can encourage customer retention and repeat business. Offer rewards or discounts for frequent purchases, referrals, or sign-ups for newsletters. A well-designed loyalty program incentivizes customers to choose your pharmacy over competitors and fosters a sense of loyalty to your brand.

8. Seek Customer Feedback and Act on It

Feedback from customers is a valuable resource for improving your services. Create channels for customers to provide feedback and actively seek their opinions on their experience at your pharmacy. Be responsive to their suggestions and concerns, and implement necessary changes to address any issues raised.

9. Embrace Multi-Channel Communication

Utilize various communication channels to stay connected with your customers. Aside from in-person interactions, use email newsletters, social media and WhatsApp to engage with your audience, share useful health tips, and inform them about promotions and offers.

10. Build Community Engagement

Engage with the local community to establish a strong brand presence. Sponsor health-related events, offer health screenings, or host educational workshops to demonstrate your commitment to promoting health and well-being beyond the confines of your retail pharmacy.

Conclusion

Improving customer experience at your retail pharmacy is a continuous effort that requires dedication and attention to detail. By creating a welcoming environment, training and empowering your staff, providing personalized service, and implementing technology solutions, you can enhance customer satisfaction and loyalty. Utilize customer feedback to make necessary improvements and leverage multi-channel communication to stay connected with your audience. With a focus on delivering exceptional customer experiences, your retail pharmacy can build a strong reputation, attract new customers, and thrive in the competitive healthcare market.

Best Practices for Inventory Management in Retail Pharmacies

• RetailerShakti
• July 28, 2023

Inventory management is a critical aspect of running a successful retail pharmacy. Properly managing medication and product inventory ensures that essential items are always available for customers while minimizing waste and reducing costs. In this blog post, we will discuss some of the best practices for inventory management in retail pharmacies, enabling them to maintain optimal stock levels, improve efficiency, and enhance customer satisfaction.

1. Utilize Pharmacy Management Software

Implementing a pharmacy management software system is a foundational step in efficient inventory management. These software solutions provide real-time tracking of inventory levels, expiration dates, and reorder points. By automating these processes, pharmacies can avoid stock-outs and ensure that essential medications are always available to customers. Additionally, pharmacy management software can generate reports and analytics, providing valuable insights into inventory trends and helping pharmacists make informed decisions.

2. Set Par Levels and Reorder Points

Establishing par levels and reorder points is crucial for maintaining a balanced inventory. Par levels represent the minimum quantity of each medication or product that should be kept in stock at all times. When the stock level drops to the reorder point, it triggers an automatic purchase order, ensuring timely replenishment. Determining par levels and reorder points should be based on historical sales data, seasonality, and customer demand patterns.

3. Embrace the FIFO Method

The First-In-First-Out (FIFO) method is a standard practice in pharmacy inventory management. It involves selling the oldest products first, ensuring that medications with the closest expiration dates are dispensed before newer ones. By following the FIFO method, pharmacies can reduce the risk of expired products and prevent financial losses due to product obsolescence.

4. Regularly Conduct Physical Inventory Audits

While pharmacy management software is beneficial, conducting regular physical inventory audits is equally important. Physical audits help identify discrepancies between the recorded stock levels and the actual inventory on hand. By reconciling these differences, pharmacies can maintain accurate records and ensure inventory data integrity.

5. Implement Supplier Management Strategies

Maintaining strong relationships with suppliers is essential for a smooth inventory management process. Regular communication with suppliers helps pharmacies stay informed about product availability and any potential supply chain disruptions. Negotiating favourable terms and agreements with suppliers, such as bulk discounts and flexible payment options, can also lead to cost savings.

6. Monitor Expiration Dates

Keeping track of expiration dates is crucial in pharmacy inventory management. Expired medications not only pose a risk to patient safety but also lead to financial losses. Regularly reviewing inventory for upcoming expirations and proactively removing expired products from the shelves is essential for maintaining the integrity of the pharmacy's stock.

7. Minimize Stock Holding Costs

Maintaining excessive inventory can result in higher holding costs, including storage, insurance, and the risk of theft or damage. It is essential to strike a balance between having enough stock to meet customer demand and minimizing holding costs. Proper inventory planning and management help pharmacies optimize stock levels and reduce unnecessary expenses.

8. Train Staff in Inventory Management

Inventory management is a team effort, and training pharmacy staff in best practices is crucial. Pharmacists and pharmacy technicians should be educated on the importance of accurate record-keeping, adherence to FIFO, and proper handling of stock. Well-trained staff can contribute significantly to the overall efficiency and success of the pharmacy's inventory management processes.

Effective inventory management is vital for the smooth functioning of retail pharmacies. By implementing best practices such as utilizing pharmacy management software, setting par levels, embracing the FIFO method, and conducting regular physical audits, pharmacies can ensure optimal stock levels and reduce costs. Monitoring expiration dates, maintaining strong supplier relationships, and training staff in inventory management further enhance efficiency and customer satisfaction. Adopting these best practices empowers retail pharmacies to streamline their operations, offer a seamless customer experience, and remain competitive in the dynamic healthcare market.

The Role of Technology in Streamlining Operations at Retail Pharmacies

• RetailerShakti
• July 11, 2023

In the fast-paced world of retail pharmacies, technology has emerged as a game-changer, revolutionizing operations and enhancing overall efficiency. From inventory management to customer service, technology plays a vital role in streamlining processes and ensuring smooth operations. In this blog post, we will explore the significant role of technology in retail pharmacies and discuss how it can optimize various aspects of their day-to-day functions.

Efficient Inventory Management

One of the most critical aspects of running a successful retail pharmacy is managing inventory effectively. Technology has made this task much more manageable with the introduction of pharmacy management software. These software solutions help automate inventory tracking, stock replenishment, and expiration date management. With real-time updates and alerts, pharmacies can optimize stock levels, reduce wastage, and ensure that essential medications are always available for customers.

Streamlined Prescription Processing

Technology has greatly streamlined the prescription processing workflow in retail pharmacies. Electronic prescribing systems enable healthcare providers to send prescriptions directly to the pharmacy, eliminating the need for handwritten notes or faxed documents. Automated systems can then retrieve and process these electronic prescriptions, reducing errors and improving overall efficiency. This digital transformation enables pharmacists to focus more on patient counselling and care rather than manual paperwork.

Enhanced Customer Service

Technology has empowered retail pharmacies to provide enhanced customer service experiences. Automated refill reminders via WhatsApp messages help customers stay on top of their medication schedules. Digital solutions also enable pharmacies to offer personalized medication counselling and healthcare advice to customers, further strengthening the customer-pharmacist relationship.

Data Analytics for Business Insights

Technology-driven data analytics tools have become invaluable for retail pharmacies. These tools can analyse sales patterns, customer preferences, and inventory data to provide actionable insights. By understanding customer behaviour and market trends, pharmacies can optimize their product offerings, stock levels, and marketing strategies. Data analytics also helps pharmacies identify opportunities for growth, cost-saving measures, and areas for improvement in their operations.

Online Presence and E-commerce

In today's digital age, having an online presence is crucial for retail pharmacies. Technology enables pharmacies to create user-friendly websites, develop mobile apps, and establish an e-commerce platform. Online platforms allow customers to browse and purchase products conveniently, even outside of regular business hours. With secure payment gateways and reliable delivery services, retail pharmacies can expand their reach and serve a wider customer base.

Technology has become an indispensable tool for retail pharmacies, streamlining operations and optimizing efficiency across various aspects of their business. From inventory management to prescription processing, technology-driven solutions have significantly improved productivity and customer service. Embracing technology not only enhances the overall pharmacy experience but also enables pharmacies to stay competitive in an ever-evolving market. By leveraging the power of technology, retail pharmacies can position themselves as modern healthcare providers, delivering quality service to their customers while focusing on patient care and satisfaction.

What is the Registration Procedure to Start a Retail Pharmacy Business in India?

• RetailerShakti
• June 21, 2023

The healthcare sector is rapidly growing in India. People spend thousands of rupees on drugs each year to maintain their health and treat ailments. The pharmaceutical industry has been least affected by the recession. The medical supply sector is an enduring one. After initially using technology primarily for medicinal research and development, we have now reached a point where it is as important for sales. Today, you may schedule a doctor's visit online, establish a treatment plan, and even order prescriptions to be delivered directly to your door.

Different types of pharmacies

Stand-alone Pharmacy:This retail medical establishment is generally established in a neighbourhood. The majority of small- and medium-sized business owners set up their pharmacies in this manner.

This is how the majority of small- and medium-sized business owners set up their pharmacies.

Hospital Pharmacy: To fulfil the requirements of the patients, someone may open a pharmacy next to the hospital.

Franchise Pharmacy: Some pharmacies run as chains, opening numerous locations in various cities under the same brand name. Except for their greater market recognition and reach, they are not distinguishable from independent pharmacies.

Online Pharmacy: Numerous pharmacies are implementing this most recent business strategy. Through a web portal or web application, they only conduct business online. They need to maintain a physical location for walk-in consumers in addition to a warehouse or go down to store the supply of medicines.

Registration procedure to start a retail pharmacy business in India:

Starting a retail pharmacy business in India requires several registrations and licence from various government authorities. The process may vary depending on the state in which the business is being set up, but the following are the general steps involved:

Choose the type of business entity: The first step is to decide what kind of business entity, such as a sole proprietorship, partnership, or private limited company, you want to operate under.

Obtain a Trade Licence: A trade licence must be obtained from the Panchayat or local municipal body in the region where the pharmacy will be situated.

Register your Business: Registrar of Companies (ROC) registration is required if you are forming a private limited company. If you're starting a partnership or a sole proprietorship, you can also register your business with the Registrar of Firms.

Obtain Tax Registration: This applies to practically all types of firms, not just those in the pharmaceutical sector. The business should complete all tax registrations as soon as the formal incorporation procedures are complete. Obtaining a PAN, TAN, and GST number is part of this.

Obtain a Drug Licence: You will need to obtain a drug licence from the State Drug Control Authority to sell medicines in India. This licence is issued under the Drugs and Cosmetics Act, 1940, and the rules made thereunder. The applicant should have a degree or diploma in pharmacy from a recognized institute or university. The application form can be obtained from the website of the State Drug Control Authority.

The paperwork needed for a medical shop licence:

• Properly completed application form.
• Cover letter with the applicant's signature, explaining the applicant's intentions.
• Evidence of payment.
• Application form with applicant's signature on it.
• The property's blueprint.
• Documents proving ownership of the property.
• A copy of the owners' identity documents and some current photos.

Hire a Registered Pharmacist: You will need to hire a registered pharmacist who holds a degree or diploma in pharmacy to operate your retail pharmacy business. The pharmacist must be registered with the State Pharmacy Council.

Obtain Fire Safety Certificate: Obtain a Fire Safety Certificate from the Fire Department in the neighbourhood where the pharmacy is situated. After a property inspection, the certificate is given out.

Obtain a Shop and Establishment Act License: According to the state's Shop and Establishment Act, this licence is necessary. It is issued by the Panchayat or the neighbourhood municipal corporation.

Obtain NOC from Pollution Control Board: You must get a No Objection Certificate (NOC) from the State Pollution Control Board if you want to dispose of any hazardous or pharmaceutical waste.

It is advisable to consult a legal professional or a business consultant for detailed guidance on the registration process and compliance requirements for starting a retail pharmacy business in India.

Wholesale Pharmacy Near a Medicine Shop

• RetailerShakti
• May 10, 2023

By offering drugs and pharmaceuticals at discounted rates to a variety of healthcare providers, such as hospitals, clinics, and retail pharmacies, wholesale pharmacies play a critical role in the healthcare sector. There are various advantages to having a wholesale pharmacy near a medicine shop.

Convenience: Access to a variety of pharmaceutical goods and supplies is made quick and simple by being close to a wholesale pharmacy. Retailers can swiftly replace their inventory, minimising the downtime brought on by product shortages and ensuring that their consumers always have access to medication.

 Cost savings: With a wholesale pharmacy nearby, retailers can save on transportation costs and potentially reduce shipping costs. They can take advantage of greater bulk purchasing opportunities to save on transportation costs, negotiate better prices, and improve profit margins.

Faster turnaround time:When a wholesale pharmacy is near a medicine shop, the turnaround time for receiving orders and restocking inventory is significantly reduced. This enables retailers to respond more quickly to customer demands and prevents stock outs, ultimately improving customer satisfaction

Enhanced customer service:  A wholesale pharmacy is near a medicine shop, merchants can provide better customer service by providing customers with quick access to prescription drugs and healthcare supplies. Increased client satisfaction and loyalty may result from this, for example. In a medical emergency, if a customer needs a certain life-saving medicine and that medicine is not available at the retailer, the retailer can easily deliver the medicine to the customer by distributing the medicine nearby.

Flexibility and adaptability:  Proximity to a wholesale pharmacy allows retailers to adapt their product offerings quickly based on market trends and customer demands. They can easily introduce new products, test different inventory strategies, and respond to changes in the healthcare landscape.

Collaboration and support:  When awholesale Pharmacy near a medicine shop, can develop a cooperative relationship between the two companies. Retailers can benefit from personalised support, guidance on inventory management, and access to product expertise from wholesale pharmacy staff.

Competitive advantage:  Retailers with access to a local wholesale pharmacy may have a competitive advantage over those without it. Compared to rivals that are farther away from a wholesale pharmacy, they can respond quickly to market developments, offer a greater variety of products, and give speedier service.

Depending on the unique conditions and interactions between the wholesale pharmacy and store, these advantages may differ. It is advised that in order to make wise business decisions, retailers evaluate their unique demands, take into account the state of the local economy, and weigh the benefits of having a wholesale pharmacy close by.

Why Product Return is one of the major problems of pharmacies?

• RetailerShakti
• April 28, 2023

Product returns can be a significant problem for pharmacies, both financially and logistically. The classification of medications as non-returnable may occur for a variety of reasons. The product's condition, the timing of the return in relation to the expiration date, and whether the manufacturer originally discounted or offered the product as nonreturnable are the three main concerns.

 Return Policy: Some medicine distributors have specific, complex return policies, which creates problems for pharmacists for product returns. If the pharmacist fails to comply with these policies, returns will not be accepted.

Defective Products: If the product is defective, the medicine distributors may request proof of the defect before accepting the return, such as a photograph or a statement from the pharmacist, which is not always possible for the pharmacist to provide.

Label Damaged: If the label is damaged for any reason, it is difficult to return the product, even if it has not expired.

Not in the Initial Packaging:  The product is either not packaged in its original manner. Repackaged controlled substances that are still detectable are not returnable.

Opened Products: Retailers refrain from taking back medicines or health-related products if they have been opened.

Lack of Documentation: The pharmacist may need to provide appropriate documentation, such as a receipt or invoice, to initiate the return process. Without proper documentation, medicine distributors refrain from accepting returns.

Expired: Medicine distributors refrain from accepting returns if a drug or health product has expired.

Near Expiry: Pharmacists face difficulty in returning products when the return period for drugs or health products and the expiration date of the product are near, while medicine distributors refrain from accepting returns of such products.

Payment Refund Policy: Some medicine distributors have a variety of hidden refund policies that make it difficult for pharmacists to receive refunds when returning products later.

Time constraints: The medicine distributors may have a specific time frame within which the product must be returned, and if the pharmacist misses this timeline, the return may not be accepted.

Why Pharmacies should choose Retailer Shakti :

• Quick sales returns.
• The wholesale buyer can return products within the month of product expiration. For example, if a product expires in August, retailers can return it in August.
• Easy Refund Policy.
• Fast Delivery.
• Authentic products.
• Best Discount & prices.

CAN ONE SELL OTC MEDICINES IN A KIRANA SHOP?

• By Madhuleena Dutta, Communications, RetailerShakti.
• April 20, 2023

OTC or over-the-counter drugs are those that customers can buy online, at pharmacies, Kirana (grocery) shops, and other commercial shops without a prescription. The Food and Drug Administration and other health organizations have approved OTC medicines as safe and effective treatments. OTC treats common, easily self-treated medical problems and symptoms like colds, mild discomfort, allergies, and other benign health issues that affect significant portions of the population.

SIGNIFICANCE OF OTC PRODUCTS IN INDIA

OTC medicines give consumers easier means of receiving treatment at a lower cost for symptoms that are mild or self-limiting. India is undoubtedly a country with a vast population and a significant number of people living below the poverty line. It is for this reason that over-the-counter medications, which are also less expensive, are very helpful in safeguarding the health of individuals throughout the country. The reason for this is that, in contrast to over-the-counter (OTC) medications, branded medications are generally more expensive.

In addition, the majority of people in India do not seek medical attention for common illnesses. Also, there are many fewer doctors than there are patients on average. This is especially helpful in our country because there are far fewer doctors per patient than in other countries.

Without sacrificing the standard of care given to patients, it can be said that over-the-counter (OTC) medications assist in promoting self-care among individuals. It will make it possible for patients to find appropriate treatment without a doctor. These over-the-counter medications' safety makes them a good first step in creating a healthy society.

OTC MEDICINES IN INDIA

The Union government has proposed to bring over-the-counter (OTC) medications into India through an amendment to the Drugs and Cosmetics Regulations and permit their retail market sales without the need for a prescription. A list of OTC medicines which are permitted to be sold in Kirana shops has been authorized by the Drug Technical Advisory Board (DTAB). 

These mainly include the medicines like:

• Antifungal creams 
• Cough syrups (selective)
• Analgesics (selective)
• Antiseptics
• Laxatives
• Nasal Decongestants
• Medicines for infections caused to the gums.

Some of the Major OTC Products Available in Kirana Shops Include:

Antidandruff Agents

Toothpaste for Dental Health

Sun Protection Lotions, Creams & Gels

Personal Hygiene products like Deodorants, Soaps, Sanitary Napkins, Diapers etc.

Antacid Solubles

Antiseptics & Sanitizers

Oral Rehydration Solutions/ Glucose Powder

Pain Relievers

Mentholated Balms

Throat Lozenges

Health/ Energy Drinks

WHY SHOULD OTC BE MADE AVAILABLE IN KIRANA SHOP/RETAILER SHOP? 

Because of a common ongoing trend, it is mostly seen around that the general public often prefers to approach local Kirana shops to get medicines for minor illnesses like - aches, pains, coughs, colds, allergies, fever, acidity, diarrhoea, skin issues etc., rather than going to a doctor for the prescribed medicines. These medicines are Over-the-counter medicines or commonly termed as OTC medicines. As there is no requirement for a prescription to purchase these medicines, they are readily available in any Kirana shop and may be used by anybody. 

The prime objective of enabling OTC drug sales at Kirana shops is to make sure that customers may conveniently get these medicines. They also want to supply drugs for common health conditions to assist in reducing and identifying health-related difficulties as soon as possible.

As time goes on, grocery shops are moving to online platforms. The transition of Kirana stores into online stores, together with the convenience of home delivery, has elevated the sales and preference for over-the-counter (OTC) medicines. 

DO SELLING OTC MEDICINE REQUIRE A LICENSE IN INDIA?

Throughout the past several years, the usage of "Over-the-Counter (OTC) Medications" has significantly increased. This trend is developed by a variety of factors, including easy availability, price, and increasing patient knowledge. Many countries have created laws governing the use of over-the-counter medicines as a separate group of drugs. However, there are currently no regulations for licensing OTC medicines in India. The medications that do not fall under the schedule of prescriptions are often offered as over-the-counter medicines in India because there is no specific category set out for them. 

As part of a new over-the-counter (OTC) medicine policy, India will soon permit the selling of some medications without a prescription. The new policy has been accepted by the country's highest drug advisory body, the Drugs Technical Advisory Board (DTAB), a list of OTC medicines, including analgesics (pain relievers), cough syrups, laxatives, nasal sprays and antiseptics has been approved by the DTAB.

The Central Drugs Standard Control Organization (CDSCO) is in charge of evaluating which medicines are secure to take without the supervision of healthcare experts. They also assess a medicine's efficacy based on its overall effects.  In general, a doctor's prescription is not necessary for the distribution of over-the-counter (OTC) medications in India. This is primarily the reason why these medications are openly and without restriction marketed throughout India's many states. Hence, selling or distributing over-the-counter (OTC) medications in Kirana stores is not a major concern. 

HOW TO RUN A MEDICAL STORE SUCCESSFULLY?

• By Jainey Sheth, Communications, RetailerShakti
• April 19, 2023

KEY THINGS TO KEEP IN MIND

Setting up a medical store is tough but what is even more challenging is running the medical store successfully. There are a number of factors that need to be kept in mind while setting up a plan for running a medical store.

This article will talk about some key things that need to be kept in mind to ensure the successful and smooth running of the medical store. All of these factors are aimed towards ensuring the smooth running of the existing business by optimum utilization of the available resources.

1. Location

 The business of a medical store is directly influenced by its location. This is possibly why location is said to be the key to a successful business. Choosing the correct location is essential for a medical store to prosper which is why it is important to properly analyse the location of the shop.

The selected place should have no or very less medical shops to ensure decreased or minimum competition. The lesser the competition more will be the chances of a smooth business. In addition, the best location for a successful medical store is near a doctor's chamber or the hospital.

A good location would lead to more footsteps into the medical store. This means more business and at the same time consistent business throughout the year. This is mostly why it is important to choose the right location.

2. Association with local wholesalers or manufacturing company

  In order to get a sufficient supply of products for your shop it is wise to contact the local wholesaler or medical manufacturing company. This will increase the profit margin for the medical store. It is however beneficial to keep a check on the quality of the medicines being traded.

3.Keeping in touch with a doctor

It is often beneficial to keep an informal link to the nearest doctor or clinic. This will help in drawing a large number of customers to the shop. An increased number of customers will mean that the chances of doing a successful business also raises.

4. Word of mouth

It is important to build a good reputation for the medical store in the eyes of the customers. Any business is run by its customers and a medical store is no exception. It is, for this reason, that word of mouth is a good way to promote the medical shop.

Customers who have a good experience are likely to recommend the shop to others. This would mean the genuine promotion of the shop without any expense. It will also increase the customer base.

5. Purchasing a franchise

In order to successfully run a business, it is often beneficial to buy a franchise. In this case, most of the work will be taken care of by the franchise provider.

In some cases, the reputation of the franchise owner will also directly affect the smooth running of the medical shop. Thus, it is a good idea to be associated with franchise providers with a good reputation in the market.

6. Facilities for storage

The smooth running of the medical store would require the availability of enough resources. It is for this reason that the medical store should have enough space to store all the necessary drugs.

The necessary storage facility would include aspects like refrigerators, air conditioners, cupboards and drawers. Having the necessary storage facilities would ensure that the business runs smoothly and can provide good services to its customers.

7. Marketing of the store

Marketing is the key to a successful medical store. It is for this reason that one should tap on all the promotional mediums to ensure a successful business. The most common way of promoting the medical store is by advertising through print media, digital media and also through social media.

You must put up advertisements in newspapers and magazines. Digital advertisements must be circulated through different social media channels and televisions. This will help in attracting more and more customers to the business.

8. Promoting the store

The most common way of attracting people towards the store is by promoting the same. Besides the common marketing and promotional means of increasing the store's reach, another medium is by putting out banners.

Banners can be printed and they can be hung near doctor's chambers, clinics and hospitals. Even merchandises are a good way of promoting the store and the brand in general. T-shirts and sippers can be an example of promotional merchandise.

These will mainly help in subconsciously reminding the customers or people of the store. This way they will keep coming back to the store which is an effective way to create a loyal customer base. These customers will indulge in a long-term business with the store leading to the smooth running of the business.

9. Discounts

Discounted prices or flat discounts on medicines are a good way to ensure an edge over the competitors within the market. The discounted price however should be coupled with quality medicines.

It is important to mention that the quality of the medicines should not be compromised at any point. It is always good quality at affordable prices that attracts customers to the store. In addition, it also helps in creating a good reputation within the market.

10. Skilled Staff

The ground-level staff are often the ones who interact with the customers. It is therefore extremely important for the store to have skilled staff members. These staff members are supposed to have a fair understanding of the medicines and they should also be good at customer service.

Staff members represent the store and they have a huge role to play in establishing the image of the store before the customers. It is thus important to ensure that the staff know how to deal with the customers.

11. Computer and data

It is essential for the store to have computers so that data can be gathered and stored properly. In addition, a track record can be kept of the number of sales, profits and other factors concerning the business.

In a running medical store comparisons can be made between the recent and the previous year which will help in profiting the store and also ensure the smooth running of the business.

These are some key factors that influence a medical store and its business. It is important to keep them in mind to ensure the successful running of the medical store. In running a medical storesuccessfully the owner needs to address the above points and take the necessary steps on time.

GST Rate On Life-Saving Drugs And Other Pharma

• By Jainey Sheth, Communications, RetailerShakti.
• April 14, 2023

The implementation of GST on the pharmaceutical industry and the supply of medicines across India has led to four tax rates being applied on the same, i.e, Nil 5%, 12 %, and 18 % respectively applied to human blood and derivations from it along with all kinds of contraceptives. The highest rate of GST applied to medicine is 18%. This percentage is applied to those medicines that consist of nicotine gum.

The GST can go as low as 5% which is applied to pharmaceutical products deemed mainly as ‘life-saving drugs’ which include oral rehydration salts, vaccines, and all those medicines that are used in treating diseases like HIV-AIDS, diabetes, Malaria, and so on. There are no pharmaceutical medicines that are enlisted under the GST rate of 28%.

The following are the categorizations -

5% GST on medicines and other medical supplies

The lowest GST rate of GST is applied to the following medicines and medical supplies:

• Animal/Human blood vaccines
• Diagnostic kits for detecting all kinds of hepatitis
• Cyclosporine
• Oral rehydration salts
• Insulin
• Medicaments (this includes veterinary medicines) without the name of the brand used in the bio-chemical medical system
• Deferoxamine or deferiprone injection
• Drugs or medicines as well as their salts and esters along with diagnostic test kits (made specific in List 1 of central excise notification 12/2012).
• Manufactured formulations from the bulk drugs as specified in List 2 of central excise notification 12/2012.
•   Siddha, Ayurvedic, Unani, Bio-chemic, or Homeopathic medicines produced in accordance with the formulations recommended in an appropriate pharmacopeia/First Schedule of the Drugs and Cosmetics Act, 1940.
• Artificial kidneys, along with disposable micro barriers and sterilized artificial kidney dialyzers.
• Wheelchairs, artificial limbs, walking frames, crutches, and so on.
• Stent system or coronary stents for use with cardiac catheters.

18% GST on Pharmaceutical preparations

• Pharmaceutical products are subject to the highest GST rate of 18%. This section contains only a few medical items.
• Nicotine Polacrilex Gum
• The individual retail packaging of dental/oral hygiene preparations such as denture powders and dental floss, fixative pastes, and so on (excluding toothpowder)
• A number of hair care products (except mehndi pates available in cones)
• Dental, medical, surgical, or veterinary furniture such as operating tables, hospital beds, examination tables, etc.

NIL GST on Medical Services

GST Act, 2017 consists of provisions for the health services of both humans and animals which clearly states that the services of medical practitioners, paramedical clinics, or licensed medical will be imposed a GST at the NIL rate and it will be applied for ambulance services for transportation of any patient. The same rate of GST will be applied to veterinary services and treatments.

Lower Your Inventory & Grow Sales

• RetailerShakti
• April 11, 2023

What is Inventory?

Every medicine shop or pharmacy, whether it is standalone or a part of a medical facility, must maintain and manage the right level of inventory. The pharmacy's supply chain and inventory may be subject to a variety of factors that raise costs while lowering profitability. For that reason, it is important to properly project the demand for stocking goods as well. Excess inventory can result in loss of value as the majority of pharmaceutical items, such as - medicines, OTC products etc. have a moderate shelf life. On the other side, understocking can lead to losing sales opportunities. A pharmacy is also required to handle critical issues such as appropriate storage, expiration dates, and so on. Thus, it is crucial for a pharmacy to efficiently manage the whole inventory.

Working capital management is a key component of any business, including the pharmacy’s sales and profits. It includes a number of vital areas of inventory management. Large inventories need a large space as well as a significant amount of capital. To prevent making superfluous or insufficient investments, efficient and effective inventory management is required in pharmacies. Having too much inventory in a medicine shop can limit the working capital that may be used for other kinds of assets.

As we know, ordering, stocking and utilizing the supplies or goods of a pharmacy are all parts of inventory management. An essential component of smooth operation in a medicine shop/ pharmacy is effective inventory management. Minimizing the various expenses involved with maintaining inventory lowers the cost of operations and, as a result, boosts the pharmacy’s profitability.

Inventory and Sales

Making decisions about inventory that reduce the overall cost of inventory is the goal of an inventory control system. This is different from inventory minimization. At a pharmacy, running out of an item is frequently more expensive than just keeping extra units on hand. For instance, if a consumer at a retail pharmacy is unable to get their medication, they can go somewhere else, costing the store future sales. So, it is important to maintain the right amount of inventory to maintain the working capital of the pharmacy and increase sales as well

• Working capital investment is the term for funds that have been used for inventories.
• The return on inventory investment should be everyone's priority.
• Reducing the inventory is essential to boosting the store's revenues.
• Lowering the inventory will make more room for merchandise that will probably sell more quickly, boosting sales and earnings.
• To improve working capital turnover, stock only the next few days' worth of high-demand items and minimize working capital.

How Buying on Credit Can Impact Your Revenue?

• You could lose 1%–2% on purchasing margins while using credit.
• If you pay cash, you will receive a 1-2% cash discount. This is your revenue.
• Make regular, little purchases. With less money spent on inventory, this will increase profitability and produce greater purchasing margins.
• Buy with cash or make minor purchases on credit to have peace of mind.
• Reduced Burden on Expiry of Goods / Purchase Return – it saves administrative work/ Capital/ Loss of Inventory / Vendor Relationship

How to Optimize Inventory?

Forecast demand using your recent sales and seasonality

• Examine your 30-day sales history and see what products and medicines are selling in your locality.
• If you have seasonal products like for winter or flu season, review your inventory and return the products to your distributor.
• Consider the Top 50 SKUs that have sold the most during the last 12 months.
• Analyze in which part of the Month the sales are highest.
• List the items that were sold during that time.
• Review the list every 3 months.

Invest in ERP

• Spend less time managing inventory and more time on the counter.
• Many ERP options are now accessible that are either free or inexpensive.
• Invest in these applications to digitize your sales and inventories.
• Identify products which are slow-moving, fast selling, and about to expire.
• Identify products which will be stocked out in the next three days.
• Automatically generate wanting book orders every day.

Employ the Pareto Distribution

• In reality, only 30-40% of your SKUs will account for 80% of your sales.
• Many SKUs in a lineup are only there to offer customers more choices.

Smaller Order Sizes

• In order to optimize cash flow and inventory reduction, the firm can benefit from placing smaller, more regular orders for inventory.
• Ease of verifying the purchases immediately.

How Can Retailer Shakti Help You?

• It has the widest product selection – you can purchase all SKUs from a single source.
• You can avail of free delivery over just Rs. 1000 order. Order only what is needed for the next 2-3 days.
• Order small quantities. No MOQ.
• Delivery on all 7 days. Guaranteed next-day delivery.
• 24-hour order acceptance.
• Purchase higher quantities of lot schemes. Improve margins.
• Transparent pricing.
• Returns are accepted without deduction. Return slow-moving products and free your shop space and inventory

WHAT ARE THE LEGAL DOCUMENTS REQUIRED TO OPEN A RETAIL MEDICINE SHOP?

• By Jainey Sheth, Communications, RetailerShakti.
• April 7, 2023

The process of getting a license for drugs can be long and extremely tiring at the same time. The regulations around licensing for selling medicines at retail medicine shops have become extremely strict. The Drugs and Cosmetics Act (1940) is the main regulatory framework that looks after the entire lifecycle of drug licensing. Drug licensing is also dependent on the location.

CATEGORIES FOR ISSUING DRUG LICENSE

• Drug Manufacturing License

Manufacturing rights are granted to allow the production of homeopathic or allopathic drugs and cosmetics in a specific location. It is solely granted to approve industrial zones.

• Loan License

Loan licenses are intended for people who want to use another licensee's manufacturing facilities.

• Drug Sales License

A retail drug license or a wholesale drug license will be required to sell drugs. The former is given to people who hold a degree or diploma in pharmacy from a recognised university and is experienced in running a chemist shop, whereas the latter is used to running a drug and medicine wholesale business.

REQUIREMENTS TO GET A MEDICINE LICENSE

Those businessmen who wish to get a drug-selling license have to meet a number of requirements that are mandatory. It is often difficult to obtain a grant. For being able to get a grant for selling medicine and with a low level of success rate it can be concluded that meeting all the requirements is necessary, especially for those who are seeking a license for a retail medicine store.

The main requirements for getting a license are listed down below:

1. Availability of necessary space: This requirement is with respect to the area of the pharmacy or the place allotted for use as a wholesale unit. 

• For a retail operator or a wholesaler, the space used for storage should be no less than 10 square meters in total. 
• As for units that conduct both retail and wholesale, the premises should be at least 15 square meters. 
• The premise should have adequate ventilation systems or channels. 

The height of the premise in question used for selling drugs should align with those dictated by the National Building Code of India (2005).

2. Adequate facilities for storage of drugs: There are a number of medicines that have to be stored at a much lower temperature to ensure they are effective. Some examples of the same are vaccines, insulin doses, and different sera. Refrigerators and air conditioners are thus important in order to create a cool space for storing these medicines and they must be installed before applying for a license.

3. Skilled and qualified staff: It is extremely important to have skilled and competent human resources before applying for a drug license. 

 An overview of the requirement is listed down below:

• In the case of a wholesale operator, sales could be made under the supervision of a pharmacist who is legally registered. However, personnel with a graduate degree and a year of experience could also substitute a pharmacist in this case. For those cases where both of them are unavailable, a person with an SSLC and at least four years of experience in dealing with drugs could be substituted. This however needs to be approved by the Department of Drug Control. 
• Retail operations must only be conducted in the presence of a registered pharmacist. This competent person must be present during the store's operating hours as well.

After having met the above requirements, one could apply for a license. 

DOCUMENTS REQUIRED FOR PROCURING A DRUG LICENSE

The availability of suitable premises, competent personnel, and cooling facilities are basic requirements for applying for a drug license. The main document required is a completed Form 19. This form requests permission to sell, display, stock, or offer for distribution or sale of drugs. These drugs, however, must not be those on Schedule X. Form 19A is required for dealers who look forward to selling drugs in a retail setting without any help from a qualified individual. If one has to stock, sell, or distribute homeopathic medicines, one must fill out Form 19B. Those who want to sell Schedule X drugs must fill out Form 19C in the meantime.

DOCUMENTS TO BE SUBMITTED

• A 3,000 rupees challan is issued.
• Affidavit of the proprietor on 20 rupees stamp paper
• Self-attested copies of the proprietor's education certificate and identity proof
• A registered pharmacist's or competent person's affidavit.
• Copies of registered pharmacist's or competent person's education certificate and identity proof
• A competent person's experience certificate
• A blueprint of a proposed premises' plan layout
• The electricity bill for the proposed location
• Copy of the refrigerator bill 
• Rent agreement or property ownership document
• Cover letter 
• 5 photos, one of the proprietor and one of the registered pharmacists or competent person.

APPLYING FOR A NEW RETAIL/WHOLESALE DRUG LICENSE

Follow the steps below to obtain a drug license in West Bengal:

Step 1: Registration

The applicant can begin the registration process by going to the Department of Health and Family Welfare's official website.

Step 2: User ID and Password   

Complete the registration process after visiting the website, which will equip him/her with a user ID and password.

Step 3: Log in

The registered user could now access the portal by entering their username and password.

Step 4: The Apply Button  

After logging in, the applicant should fill out the application form by clicking on the "Apply for New License" tab.

Step 5: Type of Business

Choose the type of business that corresponds to the user's current or preferred line of business (say retail or wholesale).

Step 6: Uploading of Application

Upload the request form in PDF format, along with any other documents required.

Step 7: Payment of Fees

The applicant must pay the fee online using one of the available payment methods.

The application process is completed when the fees are paid and the form is submitted. Following that, the applicant will get a system-generated acknowledgment that can be used for easy reference. The Department will proceed with the standard processes and register the applicant. The applicant may be required to provide additional information by the competent authority

Digital Promotions for Business Growth

• RetailerShakti
• March 29, 2023

Think Digitally!

In this digital age, expanding your business to digital platforms enables us to target customers with a broad reach and generate significant revenue with minimal effort. With the help of digital promotions, small businesses can now stand toe to toe with the large companies of today's market and expand their customer base. It is an easy and affordable way nowadays for a small firm to enter the realm of the digital arena and as it costs less expenditure it can be a fruitful attempt for business owners to successfully boost their brand recognition, online visibility, and profitability.

 Digital promotions enable us to optimize our target audience and provide customized suggestions by using a variety of statistics to determine what our clients are interested in. Digital marketing techniques help us to establish a rapport with the clients as well as establish the company as a reliable business partner. One of the very important and outstanding advantages of digital promotions is that any business now can reach a worldwide audience and engage with fresh potential clients.

Digital/ Online Presence is Necessary to Get New Customers

The simplest strategy to boost client accessibility or get new customers for the company is to have an online presence. Your clients are looking for your services 24/7, so simply managing a brick-and-mortar business is no longer enough to give you an advantage over your opponents. By building a strong online presence, you can make sure that your company runs well without the need for extra staff or even when you are sleeping. You just make it possible for a variety of new as well as existing audiences to contact you at their convenience.

Also, establishing a digital presence is an excellent method to highlight the brand's strengths. Printing numerous flyers and brochures is considerably more difficult than creating a fantastic online portfolio of company products. Your brand's digital presence also allows it to establish its voice and engage with its audience.

 Let’s Find Out How Digital Presence Works For Your Business

Talking about digital presence, Google local search is one such common tool which can enable your customers to easily get access to your business with images of your store or marketplace. Whenever someone searches for nearby businesses on Google.com or Google Maps mostly on their phone (for instance, "medicine shop near me"), they can come across local search advertisements that highlight the locations and details of your company.

The benefits of having such an online presence in Google Local search are:

• Getting more traffics from new and potential customers of your store/ business
• Getting calls for your products
• Making it easier for customers to acquire more about your company.

Your digital presence may be enhanced to become more noticeable and pertinent when it seems people near you are searching for your company/ services. Here are some of the approaches which can be implemented for that:

• Creating a Google My Business Page
• Optimization and updation of Google My Business Page
• Getting reviews for your Google My Business
• Including your company in the appropriate business search directories
• Adding your company's address to your website, etc.

How to Set Up a Google My Business Page:

Make sure your Google profile is created and confirmed before interacting with potential consumers. After finishing the verification customers will be able to locate your company profile on Google.

•  Sign in to your Gmail
• Type in your browser - https://business.google.com/create
•  Create your Google Business Profile

To create the Google Business Profile, some choices will come your way. You have to choose the options as per your preference. Let’s find out some of the glimpses of that:

•  The first page will ask you regarding the addition of a location of your store or office where customers can visit, please select ‘YES’ for that option.
•  The next page will ask you to fill up the details of your business address. You need to drag the location marker to point to the exact location of your shop.
• One of the important aspects to add to your business page is to add whether your business provides home delivery or not.
•  If you choose "Yes" then on the next page the delivery areas should be included and If you select "No" then you need to provide your company's phone number, preferably the same one that you use for business WhatsApp.
•  Verify the mobile number on the next page.
•  After that, Your Company’s business hours or shop timing need to be included.
• Next, press ‘accept messaging’ as It is very important to allow people to chat with you for their queries.
• For better reach and engagement with customers write something nice and interesting about your shop/ company, like offers, services etc.
• Take quality pictures of your store and upload them (at least 4 recommended).
• Next one page will come up where you could be offered to buy a website domain. You do not need to buy any.
• Finally, click ‘Continue’ to finish up the set-up.

Some of the Simple Steps to Engage With Customers Online To Get More Orders:

• Collect the Mobile Numbers of your Regular Customers.
•  Save them on your phone
• Use WhatsApp on your phone
• Create a WhatsApp Group with your Shop/ Brand Name
• Add the numbers of your regular customers in the Group
• Send messages about your services like –

                  - Medicine Home Delivery.

                  - Online/UPI-based payment facility.

                  - Discount offers.

 The Happy Process Flow:

• You make a list of frequent client phone numbers.
• Form a WhatsApp Group.
• Send offer - 20% off on all medicines.
• The customer calls you & Asks about a particular medicine.
• You confirm and provide him with the pricing, as well as online payment choices.
• The customer makes payment.
• You deliver medicines to his home.
• You ask the customer to rate you on Google My Business.

Tips to start a Retail Business

• RetailerShakti
• March 23, 2023

Want to start a retail enterprise? You've got a great ideas. Have you found a wholesale distributor for your brick and mortar retail business?

Starting a business is never easy. Retail stores are no exception to this fact. Want to ensure that your store gets a good start? Read on to know what to consider while opening a retail shop.

Understand Your Industry's Distribution Channels

It is important to know the distribution channels of the product you want to sell. You should be able to know where you fit in the supply chain. As this will help you to find the right wholesale supplier. You can procure it directly from Manufacturer, Wholesaler/Regional Distributor, Importer/Exclusive Distributor etc.

Digital Help

With Digitisation being at its peak all you need is a PC or a smartphone to be updated. Running a business in this digital age is easier with platforms out there to ease out your related worries. Initially you can Google search for wholesalers of the product. Try so with product names, brand names and model numbers.

Check B2B Marketplaces

Thanks to internet for bring major changes in business models. Several wholesalers now operate an online store. They maintain a comprehensive product catalogue, execute secure online payments and offer delivery at your shop. Online bulk purchase is becoming popular. This is because it offers flexibility, convenience and greater choice. RetailerShakti is one such B2B platform. Most importantly it has several things to offer.

Why RetailerShakti

• Endless wholesale options suitable for retailers
• Free delivery at your shop
• 50000+ authentic products
• Best prices guaranteed
• Secured online payments
• Best Margins

Present your business

You should be able to tell people in less time, the whys and hows of your business. As a result do let people know how your business will benefit the community in general.

Exceptional customer service

Good customer service is unmatchable as it gives them a unique experience. Thus it is important to have a solid strategy on how to give exceptional customer experience ,that is unique to your store.

Legal paperwork

Check the legal permit and license for your place of business. Your business type must be defined and file the necessary paperwork. 

Undoubtedly it goes without saying that for a successful retail business one has to keep trying several things. This will help you to know what is working and what is not. You will also have to give time for enterprise to settle. Try unconventional things, go for certain promotions for continued success. Ultimately ensure that you do everything you can to make the best of a good start.

Choose the Right Wholesale Platform for Your Retail Shop

• RetailerShakti
• March 23, 2023

Finally, you have decided to procure the goods for your retail shop online. Congrats, you have taken a good decision. Now you need to figure out from whom you will source the products. You are probably facing a dilemma on choosing the most suitable wholesale e-commerce platform. It is certainly a critical decision as it affects timely product delivery to customers, pricing, wide selection and profit margins.

When choosing a wholesale platform, it's important to consider factors like customer service, offers, price, product portfolio, reliability and payment options. These are the key components for deciding which online wholesale platform will work for you.

Criteria for choosing a Wholesale Platform

Check the following to ascertain whether a wholesale provider is apt for you or not:

 Product Portfolio - It is obvious to be informed about whether the wholesale provider offers the product and brands you want. Try to partner with wholesalers that offer a clear product listing which is easy to navigate through and comes with all product details. This makes the buying process more simpler. It is essential to examine the availability of products so that you never run out of stock.

Reliable Shipping - Consider you have brought the products cheaply from a wholesaler. However if they are delivered late it could be a loss for you. Therefore their services should be impeccable and reliable as it will also affect your ability to meet customer demand. It is imperative to select a wholesaler with product tracking and automated delivery alerts. 

Price - Price is an important factor. Ensure to thoroughly check various wholesalers, as there can be significant price differences based on geographical location, shipping distances and their rapport with with manufactures. You can always make comparison across websites too.

Customer Service - Good customer service is an important criteria in deciding the right bulk provider. Can you easily contact someone regarding an issue? Is there a support number or live chat available? You would apparently like to work with one who is available when you need them.

Payment options: Check for the payment platforms available. It is not always possible to opt for cash on delivery. Ideally go for B2B e-commerce wholesalers who offer payment options like net banking, credit and debit cards, online gateways like Paytm etc. This would ease your payment worries and make transactions smooth.

RetailerShakti is one such wholesale B2B e-commerce platform. How will you benefit from this unique marketplace for retailers? Read on to know why:

• Extensive Product portfolio
• Free delivery at your shop
• 50000+ genuine products
• Best prices guaranteed
• Secured online payments
• Good profit margins

Therefore the wholesale provider you choose will influence your regular relationship with customers. Simultaneously, you need to cherry pick one that gives you good margins and gives you the confidence that you are partnering with a dependable entity.

अपनी रिटेल दुकान के लिए एक सही होलसेल प्लेटफॅार्म चुनें

• अपनी रिटेल दुकान के लिए एक सही होलसेल प्लेटफॅार्म चुनें
• July 30, 2019

आखिरकार, आपने अपनी रिटेल दुकान के लिए ऑनलाइन सामान खरीदने का फैसला किया है। बधाई हो, आपने एक अच्छा निर्णय लिया है। अब आपको यह पता लगाना होगा कि आप प्रोडक्ट कहाँ से खरीदेंगे। शायद आप सबसे उपयुक्त होलसेल ई-कॉमर्स प्लेटफॉर्म चुनने के लिए असमंजस में पड़ गए हैं। सही प्लेटफॅार्म चुनना बेशक एक महत्वपूर्ण निर्णय होता है, क्योंकि यह ग्राहकों को समय पर प्रोडक्ट की डिलिवरी, सही कीमत के साथ-साथ व्यापक चयन और लाभ को प्रभावित करता है।

होलसेल प्लेटफॅार्म चुनते समय ग्राहक सेवा, ऑफर, कीमत, प्रोडक्ट पोर्टफोलियो, विश्वसनीयता और भुगतान करने के विकल्प जैसे कारकों पर विचार करना बेहद जरूरी है। यह समस्त कारक आपको यह पता लगाने में मदद करते हैं कि कौन सा ऑनलाइन होलसेल प्लेटफॅार्म आपके लिए एकदम सही है।

होलसेल प्लेटफॅार्म चुनने के विभिन्न मानदंड

आपके लिए कौन सा होलसेलर उपयुक्त है, यह पता लगाने के लिए इन सारी बातों को ध्यान में रखें:

प्रोडक्ट पोर्टफोलियो - होलसेलर आपकी जरूरत के अनुसार प्रोडक्ट और ब्रांड देता है या नहीं, इसकी सही जानकारी रखना आपके लिए बेहद जरूरी है। आप एक ऐसे होलसेलर के साथ साझेदारी करने की कोशिश करें जिनके पास ऐसे प्रोडक्ट लिस्ट मौजूद हों जिनकी मदद से प्रोडक्ट को नेविगेट करना और उनके सारे विवरणों को जानना काफी आसान हो जाए। यह खरीद प्रक्रिया को और आसान बनाता है। प्रोडक्ट की उपलब्धता की जांच करना बेहद जरूरी है, ताकि कभी भी प्रोडक्ट आउट ऑफ स्टॉक न हों।

सामानों को विश्वसनीय तरीके से पहुँचाना - मान लें कि आपने एक होलसेलर से सस्ते में प्रो़डक्ट खरीदा है। हालांकि अगर वह आपको यह सामान देर से पहुंचाता है, तो यह आपके लिए नुकसानदायक हो सकता है। इसलिए उनकी सेवाओं का त्रुटिहीन और विश्वसनीय होना जरूरी है, क्योंकि यह ग्राहक की मांग को पूरा करने की आपकी क्षमता को भी प्रभावित करेगा। प्रो़डक्ट ट्रैकिंग और ऑटोमैटेड डिलीवरी अलर्ट की सेवा देने वाले होलसेलर को चुनना बहुत जरूरी होता है।

कीमत- कीमत हमेशा से एक महत्वपूर्ण कारक रहा है। भौगोलिक स्थिति, शिपिंग की दूरी और निर्माता के साथ तालमेल के आधार पर होलसेलर की कीमत में अंतर हो सकते हैं, इसलिए आप इन सारी बातों का ध्यान जरूर रखें। आप हमेशा वेबसाइटों पर तुलना करके इसके अंतर को देख सकते हैं।

ग्राहक सेवा - अच्छी ग्राहक सेवा, सही होलसेलर तय करने में एक महत्वपूर्ण मानदंड है। क्या आप किसी समस्या के संबंध में किसी से आसानी से संपर्क कर सकते हैं? क्या कोई सपोर्ट नम्बर या लाइव चैट उपलब्ध है? बेशक आप किसी ऐसे होलसेलर के साथ काम करना पसंद करेंगे, जो जरूरत पड़ने पर आपकी मदद कर सके।

भुगतान करने के विकल्प: भुगतान करने के कौन-कौन से प्लेटफॅार्म उपलब्ध हैं, इसकी जाँच करें। कैश ऑन डिलीवरी का ऑप्शन चुनना हमेशा संभव नहीं होता है। आदर्श रूप से ऐसे B2B ई-कॉमर्स होलसेलर चुनें जो नेट बैंकिंग, क्रेडिट और डेबिट कार्ड, ऑनलाइन गेटवे जैसे पेटीएम आदि से भुगतान करने का विकल्प देते हैं। इससे आपके भुगतान की चिंता कम होगी और लेनदेन सुचारू रूप से हो पाएगा।

रिटेलरशक्ति एक ऐसा ही होलसेल B2B ई-कॉमर्स प्लेटफॉर्म है। आप सभी रिटेलरों को इस अनोखे मार्केटप्लेस से लाभ कैसे मिलेगा? यह जानने के लिए आगे पढ़ें:

• व्यापक प्रोडक्ट पोर्टफोलियो
• आपकी दुकान पर फ्री डिलीवरी
• 50000+ जेन्युइन प्रोडक्ट
• किफायती मूल्य की गारंटी
• सुरक्षित ऑनलाइन पेमेंट
• अच्छा लाभ मार्जिन

अत: आपके द्वारा चुना गया होलसेलर, ग्राहकों के साथ आपके नियमित संबंध को प्रभावित करेगा। इसके साथ ही, आपको एक ऐसा होलसेलर चुनने की जरूरत है जो आपको अच्छा मार्जिन देता है और आपको विश्वास दिलाता है कि आप जिसके साथ साझेदारी कर रहे हैं, उसके उपर आप निर्भर रह सकते हैं।

নিজের দোকানের উপযুক্ত ও সঠিক হোলসেল প্ল্যাটফর্ম বাছুন

• নিজের দোকানের উপযুক্ত ও সঠিক হোলসেল প্ল্যাটফর্ম বাছুন
• July 30, 2019

আপনি শেষপর্যন্ত নিজের দোকানের জন্য অনলাইনে জিনিষ কিনবেন বলে ঠিক করেছেন। সঠিক সিদ্ধান্ত নেবার জন্য আপনাকে অভিনন্দন। আপনাকে এবার ঠিক করতে হবে, যে কার থেকে আপনি জিনিষ কিনবেন। আপনি হয়তবা সঠিক এবং উপযুক্ত হোলসেল ই-কমার্স প্ল্যাটফর্ম বাছতে গিয়ে চিন্তায় পড়েছেন। এই প্ল্যাটফর্ম নির্বাচন একটা গুরুত্বপূর্ন সিদ্ধান্ত কারণ সেটা ক্রেতাদের কাছে সময়মত সামগ্রি পৌঁছে দেবার পাশাপাশি দাম এবং লাভের পরিমাণকে প্রভাবিত করে।

একটা হোলসেল প্ল্যাটফর্ম বাছার ক্ষেত্রে বিবেচ্য গুরুত্বপূর্ন বিষয় হল ক্রেতা পরিসেবা, অফার, দাম, প্রোডাক্ট পোর্টফোলিও, ভরসা রাখা যায় এবং টাকা দেবার উপায়। আপনার ক্ষেত্রে কোন অনলাইন প্ল্যাটফর্ম উপযুক্ত সেটা সম্পর্কে সিদ্ধান্ত নেবার জন্যে এইগুলো হল মুখ্য বিষয়।

হোলসেল প্ল্যাটফর্ম বাছার মাপকাঠি

আপনার ক্ষেত্রে কোন হোলসেলার উপযুক্ত সেটা বাছার জন্য নিম্নলিখিত বিষয় দেখে নিনঃ

প্রোডাক্ট পোর্টফোলিও- হোলসেলার আপনার চাহিদা অনুসারে প্রোডাক্ট এবং ব্র্যান্ড দিতে পারবে কি না সেটা অবশ্যই আপনার জানা রাখা ভালো। আপনি এমন হোলসেলাদের সাথে ব্যবসায়িক অংশীদার হবার চেষ্টা করুন যাদের কাছে প্রোডাক্টের একটা কার্যকারী তালিকা আছে এবং সেটা খুব সহজেই দেখে প্রোডাক্ট সম্পর্কে বিস্তারিতভাবে জানা যায়। এটা আপনার কেনার পদ্ধতিকে আরো সহজ করে তোলে। প্রোডাক্ট আছে কি না সেটা যাচাই করাটা আবশ্যিক যাতে কোন সময়েই প্রোডাক্টের স্টক শেষ না হয়ে যায়।

সময়মতন সামগ্রি পৌঁছে দেবার ভরসা- মনে করুন আপনি সস্তায় একটা হোলসেলারের থেকে প্রোডাক্ট কিনছেন। এখন তারা যদি দেরীতে সামগ্রি পৌঁছায় তাহলে আপনার ক্ষতি। সেইকারণেই তাদের নিখুঁত ও নির্ভরযোগ্য পরিসেবা প্রদান করাটা গুরুত্বপূর্ন কারণ তার ভিত্তিতেই আপনি ক্রেতাদের চাহিদা পূরণ করতে পারবেন। প্রোডাক্ট ট্র্যাকিং এবং অটোমেটেড ডেলিভারি অ্যালার্ট আছে এমন হোলসেলার বাছাই করাটা আবশ্যিক।

দাম- দাম সবসময়েই একটা গুরুত্বপূর্ন বিষয়। ভৌগলিক অবস্থান, কিভাবে আসছে এবং উৎপাদনকারীর সাথে সম্পর্কের ভিত্তিতে বিভিন্ন হোলসেলারদের ক্ষেত্রে দামের পার্থক্য হয় এবং সেটা অবশ্যই দেখে নিন। আপনি ওয়েবসাইটেও তুলনামূলক পার্থক্য দেখে নিতে পারেন।

ক্রেতা পরিসেবা- বাল্ক প্রোভাইডার বাছার সিদ্ধান্ত নেবার ক্ষেত্রে যথাযথ ও সঠিক ক্রেতা পরিসেবা প্রদান একটা গুরুত্বপূর্ন মাপকাঠি। কোন সমস্যা থাকলে আপনি কি সহজেই কারোর সাথে যোগাযোগ করতে পারেন? লাইভ চ্যাট কিংবা সহায়তার জন্য যোগাযোগের নম্বর আছে কি? আপনার দরকারের সময়ে সাহায্য করতে পারবে এমন কারোর সাথেই আপনার কাজ করতে ভালো লাগবে।

টাকা দেবার উপায়ঃ টাকা কিভাবে দেবেন সেটা দেখে নিন। সবক্ষেত্রে জিনিষ নেবার সময় টাকা দেবার সুবিধা নাও থাকতে পারে। নেট ব্যাঙ্কিং, ক্রেডিট ও ডেবিট কার্ডের সাথে টাকা প্রদান, পেটিএম-র মতন অনলাইনে টাকা দেবার সুবিধা আছে এইধরনের বিটুবি ই-কমার্স হোলসেলারের সাথে থাকাটাই উপযুক্ত। এটা থাকলে আপনি খুব সহজেই এবং কোন সমস্যা ছাড়া টাকা প্রদান করতে পারবেন।

রিটেলারশক্তি হল এমনই হোলসেল বিটুবি ই-কমার্স প্ল্যাটফর্ম। আপনি ব্যবসার এই অনন্য পরিসর থেকে কি সুবিধা পাবেন? জেনে নিনঃ

• বিস্তৃত প্রোডাক্ট পোর্টফোলিও
• বিনামূল্যে আপনার দোকানে পৌঁছে দেবার সুবিধা
• ৫০০০০-র অধিক আসল প্রোডাক্ট
• সঠিক ও উপযুক্ত দামের নিশ্চয়তা
• সুরক্ষিত অনলাইনে টাকা দেবার সুবিধা
• পর্যাপ্ত লাভ্যাংশ

সব মিলিয়ে, আপনি কোন হোলসেলার বাছবেন সেটা ক্রেতাদের সাথে আপনার প্রতিমুহুর্তের সম্পর্ককে প্রভাবিত করবে। একইসাথে, আপনাকে এমন একজন হোলসেলার বাছতে হবে যে আপনাকে ভালো লাভ্যাংশ দেবে এবং সময়মতন সামগ্রি পৌঁছে দেবে বলে ভরসা রাখা যায়।

रिटेल बिज़नेस शुरू करने के टिप्स

• रिटेल बिज़नेस शुरू करने के टिप्स
• July 30, 2019

क्या आप रिटेल बिजनेस शुरू करना चाहते हैं? आपके पास बहुत अच्छे विचार भी है। क्या आपको अपने रिटेल बिज़नेस के लिए थोक सप्लायर मिल गए है?

बिज़नेस शुरू करना कभी आसान नहीं होता है। रिटेल स्टोर भी इस तथ्य से छूटे नहीं हैं। क्या आप यह सुनिश्चित करना चाहते हैं कि आपके स्टोर को अच्छी शुरुआत मिले? रिटेल स्टोर को खोलने से पहले क्या ध्यान में रखना है, यह जानने के लिए आगे पढ़ें।

अपने बिजनेस के डिस्ट्रीब्यूशन चैनल को समझें

जिस उत्पाद (प्रोडक्ट) को आप बेचना चाहते हैं उनके वितरण चैनलों को जानना बहुत ज़रूरी  है। आपको यह पता होना चाहिए कि सप्लाई चेन में आप कहाँ फिट बैठते हैं। यह आपको सही थोक सप्लायर खोजने में मदद करेगा। आप इसे सीधे निर्माता, थोक व्यापारी/ रीजनल डिस्ट्रीब्यूटर, इम्पोर्टर/ अनन्य वितरक आदि से खरीद सकते हैं।

डिजिटल सहायता

डिजिटलीकरण के बढ़ने के साथ, बस आपको एक पीसी (कंप्यूटर) या एक स्मार्टफोन को अपडेट करना होगा। इस डिजिटल युग में ऑनलाइन प्लेटफार्म पर बिजनेस चलाना आसान हो गया है और इसने आपकी इससे जुड़ी चिंताओं को कम कर दिया है। शुरू में आप गूगल पर उत्पाद (प्रोडक्ट) के थोक विक्रेताओं की खोज कर सकते हैं। फिर उत्पाद (प्रोडक्ट) के नाम, ब्रांड के नाम और मॉडल नंबर के साथ से भी करने की कोशिश करें।

बी2बी प्लेटफार्म चेक करें इंटरनेट पर

बिजनेस मॉडल में बड़े बदलाव लाने के लिए इंटरनेट का धन्यवाद करना चाहिए। कई थोक व्यापारी अब ऑनलाइन स्टोर चला रहे हैं। वह एक व्यापक उत्पाद सूची (प्रोडक्ट कैटलॉग) बनाते हैं, सुरक्षित ऑनलाइन भुगतान (पेमेंट) पूरा होने पर आपकी दुकान पर डिलीवरी करते हैं। ऑनलाइन थोक खरीद बहुत लोकप्रिय हो रही है। ऐसा इसलिए है क्योंकि यह आसान, सुविधाजनक और अधिक विकल्प प्रदान करती है।रिटेलरशक्ति एक ऐसा ही बी2बी प्लेटफॉर्म है। सबसे महत्वपूर्ण बात यह है कि यह बहुत सी चीजें प्रदान करता हैं।

 आखिर रिटेलरशक्ति ही क्यों?

• रिटेलर्स के लिए उपयुक्त बहुत से थोक विकल्प
• आपकी दुकान पर फ्री डिलीवरी
• 50000 से अधिक प्रोडक्ट
• सबसे अच्छी कीमतों की गारंटी
• सुरक्षित ऑनलाइन भुगतान (पेमेंट)
• अच्छा मुनाफा
• सही प्रोडक्ट की गारंटी 

बहुत अच्छी ग्राहक सेवा

अच्छी ग्राहक सेवा का कोई मेल नहीं है क्योंकि यह उन्हें एक अनूठा अनुभव देती है। इसलिए असाधारण ग्राहक अनुभव देने के बारे में सही से योजना बनाना ज़रूरी है, जो आपके स्टोर के लिए अद्वितीय है। 50,000 से ज़्यादा प्रोडक्ट्स रिटेलर शक्ति के द्वारा आप अपने ग्राहकों को उपलब्ध करा सकते हैं और आज के ऑनलाइन बिज़नेस से टक्कर कर सकते है। 

कानूनी कागजी कार्रवाई

अपने बिज़नेस के स्थान के लिए कानूनी अनुमति और लाइसेंस की जाँच करें। अपने बिज़नेस के प्रकार को परिभाषित करें और ज़रूरी कागजी कार्रवाई को दर्ज करें।

 इसमें कोई संदेह नहीं है कि एक सफल रिटेल बिज़नेस के लिए व्यक्ति को कई चीजों को करने की कोशिश करनी चाहिए। इससे आपको यह जानने में मदद मिलेगी कि क्या काम कर रहा है और क्या नहीं। बिज़नेस को स्थापित करने के लिए आपको समय भी देना होगा। नई और अलग चीजों को करने की कोशिश करें, निरंतर सफलता के लिए थोड़ा प्रचार भी करें। अंत में सुनिश्चित करें कि आप वह सब कुछ कर रहे हैं जो आप एक अच्छी शुरुआत के लिए कर सकते हैं।

রিটেল ব্যবসা শুরু করবার পরামর্শ

• রিটেল ব্যবসা শুরু করবার পরামর্শ
• July 30, 2019

রিটেল এন্টারপ্রাইস শুরু করতে ইচ্ছুক? আপনার অনেক অসাধারণ চিন্তাভাবনা বা ধারণা আছে। নিজের ইট ও গাড়ির রিটেল ব্যবসার জন্য হোলসেল ডিস্ট্রিবিউটার পেয়েছেন?

নতুন ব্যবসা শুরু করা আদপেই সহজ নয়। রিটেল দোকানও সেই অর্থে ব্যাতিক্রম কিছু না। ভালোভাবে নিজের দোকান শুরু করটা সুনিশ্চিত করতে চান? রিটেল দোকান খুলতে যাবার ক্ষেত্রে কি কি বিষয়ে ভেবে দেখা ও বিবেচনা করা দরকার সেটা জানতে পড়ে দেখুন।

নিজের ইন্ডাস্ট্রির ডিস্ট্রিবিউশান চ্যানল সম্পর্কে জানুন ও বুঝুন

আপনি যে প্রোডাক্ট বিক্রি করতে চাইছেন তার ডিস্ট্রিবিউশান চ্যানেল সম্পর্কে জানাটা খুবই গুরুত্বপূর্ন। সাপ্লাই চেইনের মধ্যে আপনি ঠিক কোন জায়গায় সেটা জানা উচিৎ। এটা সঠিক হোলসেল সাপ্লাই-র সন্ধান পেতে আপনাকে সাহায্য করবে। আপনি সরাসরি ম্যানুফ্যাকচারার, হোলসেল/রিজিওনাল ডিস্ট্রিবিউটার, ইম্পোটার/এক্সক্লুসিভ ডিস্ট্রিবিউটারের কাছ থেকে নিতে পারেন।

ডিজিটাল সহায়তা

ডিজিটাইজেশানের সর্বোচ্চ শিখরে আপনার আপডেটেড কম্পিউটার কিংবা স্মার্টফোনের প্রয়োজন। আজকের ডিজিটাল যুগে, আপনার সংশ্লিষ্ট দুশ্চিন্তা দূর করবার উপযুক্ত মাধ্যম থাকায় ব্যবসা চালানো খুবই সহজ। প্রোডাক্টের হোলসেলারদের খুঁজতে আপনি প্রাথমিকভাবে গুগুল সার্চে দেখতে পারেন। প্রোডাক্টের নাম, ব্রান্ডের নাম ও মডেল নম্বর দিয়ে দেখতে পারেন।

বি২বি মার্কেটপ্লেস দেখে নিন

ব্যবসার মডেলে বৃহত্তর পরিবর্তন আনার জন্যে ইন্টারনেটকে ধন্যবাদ জানানো উচিৎ। অনেক হোলসেলার এখন অনলাইন স্টোর হিসেবে চালাচ্ছে। এরা বিস্তৃত ও সর্বাঙ্গিন প্রোডাক্ট ক্যাটালগ বজায় রাখার সাথে অনলাইন টাকার আদানপ্রদান করে ও আপনার দোকানেই প্রোডাক্ট পৌঁছে দেয়। অনলাইন বাল্ক প্রোডাক্ট এখন খুবই জনপ্রিয়। ফ্লেক্সিবিলিটি, উন্নততর বিকল্প এবং সুবিধা-স্বচ্ছন্দের কারণেই এটা হয়েছে। রিটেলারশক্তি এই রকমই একটা বি২বি মাধ্যম। এটা অনেক কিছু অফার করে বলেই খুব গুরুত্বপূর্ন।

রিটেলারশক্তি (RetailerShakti) কেন বাছবেন?

• রিটেলারের উপযুক্ত অগনিত হোলসেল বিকল্প
• আপনার দোকানে বিনামূল্যে পৌঁছে দেবার সুবিধা
• ৫০০০০-র বেশী আসল প্রোডাক্ট
• সেরা দামের প্রতিশ্রুতি
• সুরক্ষিত অনলাইন টাকা আদানপ্রদান
• সেরা মার্জিন

নিজের ব্যবসা উপস্থাপিত করুন

ব্যবসাকে দ্রুত মানুষের কাছে পৌঁছে দেওয়াই আপনার লক্ষ্য হওয়া উচিৎ। সবাই এইজন্যে আপনার ব্যবসা সামগ্রিকভাবে সমাজের জন্য কতটা উপকারী সেটা জাওতে পারবে।

ব্যাতিক্রমি ক্রেতা পরিসেবা

উন্নততর ক্রেতা পরিসেবার কোন বিকল্প হয় না, কারণ এটা তাদেরকে একটা অনন্য অভিজ্ঞতা দেয়। আপনার স্টোরের সবাইকে অনন্য ক্রেতা পরিসেবার অভিজ্ঞতার কিভাবে দেবেন তার উপযোগী সুদৃঢ় পরিকল্পনা থাকাটা সেই কারণেই প্রয়োজনীয়।

আইনগত প্রসাসনিক কাগজপত্র

আপনার ব্যবসার জায়গার আইনি অনুমতি ও লাইসেন্স দেখে নিন। আপনার ব্যবসার ধরণ অবশ্যই সঠিকভাবে নির্ধারিত থাকা দরকার এবং প্রয়োজনীয় প্রসাসনিক কাগজপত্র জমা দিতে হবে। 

নিঃসন্দেহে, এটা বলার অপেক্ষা রাখে না, যে সফল রিটেল ব্যবসায় একজনকে বিভিন্ন জিনিষ চেষ্টা করে যেতে হয়। আপনি এইভাবে বুঝবেন যে কোনটা কার্যকারী এবং কোনটা নয়। গতানুগতিক বিষয়ের বাইরে গিয়ে কিছু করুন এবং ক্রমাগত সাফল্যের জন্যে সুনির্দিষ্ট প্রমোশান করুন। পরিশেষে এটা নিশ্চিত করুন, যে ভালোভাবে শুরু করবার জন্যেই আপনি সবকিছু করছেন।

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