How pharmacy retailers can cure supply chain pains with AI-enabled tools
Aug 27, 2024 • 2 minPharmacy retailers face complexities unique to their sector, from extensive regional diversity in formats and products to stringent regulatory compliance requirements. Managing prescription drugs with an ever-increasingly complex assortment necessitates a sophisticated, tech-driven approach to supply chain management to control costs, increase profits, and build a competitive advantage.
RELEX solution expert John Power shares some of the ways that RELEX is helping pharmacy retailers leverage AI to manage drug complexity, meet localized demand for all categories, and boost omnichannel efficiency.
Transcript
Hi, I’m John Power, one of the solution experts here at RELEX.
Pharmacies face some of the most unique challenges in forecasting and replenishment. From managing regional variations and legal regulations to handling seasonal demands, ever-expanding assortments, and omni-channel retail, the landscape is more demanding than ever.
Regional products and pharmacy formats already complicate supply chain management without local regulations contributing to its complexity. Handling these processes manually is often incredibly complicated and prone to errors that don’t align with the need-driven timeline of prescription drugs. Add in managing generic drug substitutions, Over-the-counter medications, seasonal products, and rapid price shifts, and the process quickly becomes overwhelming.
Luckily, the forecasting and replenishment solutions here at RELEX are designed to address these challenges head-on. Our unified, scalable solution connects supply chain, assortment, and space planning for seamless, automated execution. With RELEX, you can ensure product availability amid complex regional regulations.
While having the control to manage expanding assortments and improve seasonal and promotional planning, AI and automation minimize manual work, allowing you to turn your focus to your strategic initiatives instead of puzzling over inventory and ordering. Our advanced systems integrate sales data, product costs, and other relevant information to automate replenishment tasks to improve your profitability and margins, and you can leverage accurate forecasting for all channels.
To optimize inventory flows and manage workload efficiently. Our platform handles supply network complexity to meet order requirements and monitor inventory across your network. With Relex, you can quickly respond to changes and disruptions, adapting to new business realities with complete visibility and configurability.
That way, you can create tailored rules for forecasting and replenishment that align to your unique business goals. So, join our family of pharma businesses that already trust RELEX to optimize their forecasting and replenishment processes. Visit our website to learn more and schedule a demo today.
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