For you to run a successful wholesale pharmacy business, you need to have a medications warehouse. This is the facility where you’d be storing the medications, so as to ensure that they are available ‘just in time’ – as soon as your customers (the retail pharmacists) order for them. In the absence of a medications warehouse, you’d have to be ordering for the medications from the manufacturers on a daily basis – or after every few days. This could prove to be costly. It could also lead to a situation where you run out of stock for essential medications, ultimately leading to loss of business.
In establishing a medications warehouse, you need to:
- Acquire the warehouse building
- Reconfigure the warehouse building (to make it fit for purpose)
- Install the special medications storage equipment
- Install an inventory management system
- Procure the medications stock
- Closely monitor the movements of medications in and out of the warehouse
- Ensure that the medications are restocked as soon as they start running out
Having set up a medications warehouse in this way, the most important thing will be to ensure that you are always in contact with the people manning the facility. This way, they can keep you appraised about the medications that are running out stock, medications whose expiry date is nearing, medications that are received in poor condition… and so on. You can give each of the warehouse attendants a phone line, so as to ensure that they can get in touch with you whenever need arises. Besides the price of the phone, the only recurrent expenditure you’d have to be catering for there is that of phone bills. If, for instance, it is a Metro PCS phone, you can be giving the storekeepers a special allowance, to pay the bills at the pcspaybill portal. In any event, the bills aren’t likely to be hefty, because such a phone would only be used once in a while. Therefore, the storekeepers can even be visiting the bill payments portal, at www.metropcs.com/payment and paying with their own funds. You can encourage them to view this positively, being as it is part of their medications inventory management role.