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6 Steps to Managing a Pharmacy

Every day, managers of large, small and medium businesses from the pharmaceutical area deal with business management , they hear about the concept and need to practice , but the truth is that not all managers know how to manage a pharmacy .

First, when it comes to entrepreneurship , management is absolutely everything .

The management of a company encompasses many tasks : from planning, people management, projects, knowledge, sustainability, values, company policies, financial management… to the technology.

While the importance of knowing how to run a pharmacy is obvious, many business owners still sin at this point and run their businesses in an amateur and intuitive way.

To be a pharmaceutical retail manager, in addition to a high level of knowledge and professionalization, one must thoroughly analyze all the points responsible for the permanence and performance of the pharmacy . And this is only possible by following the steps below.

1. Dominate your business

First, to run a business , you must have ownership of it . And we are not talking about owning the business…

Knowing the strengths and weaknesses of your pharmacy will make conducting your pharmacy more assertive and effective , even when strategizing .

And how do I get to know my business?

The first step is to develop a diagnosis of your company .

Do you know when we go to the doctor and have a complete checkup? So! That’s exactly it, but the patient of the time is the pharmacy!

Find or define the field of action , what is the market , who is the public , the mission , vision and values of the pharmacy.

Then set where the pharmacy is out , it is competitive and elenque which are the strongest points of the same. After that, see also where there are weaknesses to improve…

And do not forget! Manage a pharmacy also involves the knowledge of which categories of products should be improved. That is, either by purchasing the right amount of stock or disposing of the product at the point of sale (POS), negotiating the best terms with drug distributors to ensure an attractive discount to your consumer or not buying the product because customer does not buy…

2. Organize the pharmacy

The rule is clear: order = good flow and higher yields for the pharmacy.

Managing efficiently requires organization!

Organizing the POS allows you to project the future, inventory issues, seasonality, how much customers would pay for what your pharmacy sells, among other turning points for business success.

In addition, through organization, you can:

Better target resources;

Optimize costs and prices;

Plan marketing strategies;

Attract customers.

And how do I get everything in order in my pharmacy?

1. Start with stock

Organized inventory prevents product loss and facilitates sales tracking.

2. Organize the financier

You can even drive a pharmacy without order and financial control . However, management will be of poor quality and the chances of the business collapsing are great. So organize your financial !

3. Organize the POS

Organized POS is attractive to the customer, comfortable for employees and profitable for management. All of this results in more sales and advancement for the pharmacy .

4. Read our article that teaches how to organize a pharmacy in a practical and effective way!

3. Keep in mind the main points of how to run a pharmacy

Communication

It comprises taking care of the internal and external communication aspects of the pharmacy . Therefore, administer:

Legislation

Be in compliance with the legislation !

Recalling that the complete and safe management of pharmacies also involves compliance with the requirements of ANVISA (National Health Surveillance Agency).

4. Do the pharmacy tax management

The tax management ensures proper administration of the business, interpretation and strict compliance with the law, the correct payment of taxes and, in many cases, the reduction of the tax burden.

That is, it involves the correct control of financial and product inputs and outputs, the monitoring of federal, state and municipal legislation and the necessary adjustments to meet all the requirements imposed by these regulations.

Within the tax management for pharmacies, two concepts are inserted:

Pharmacy Financial Planning

Taxation for pharmacies

Financial planning

Managing finance informally or intuitively is a serious mistake , disruptive and can bring businesses to an end.

In some cases, the greatest sin of pharmacy owners is precisely the fact that no one accounting management and financial cautious. Therefore, you need to view each expense in detail, fully track total revenue, and analyze net income.

Controlling cash flow, that is, all money coming in and out of the business, is critical to ensuring that pharmacy administration is carried out. Without financial planning , earnings and expense control, the business cannot be profitable.

Doing financial planning manually is humanly possible, but if you are here and want to know how to run a pharmacy, you know this is highly dangerous.

In addition to the possibility of manual errors, the process is limited and the chance of not achieving the expected result is high.

Today there are pharmacy systems and software designed specifically to help managers gain a broad and accurate view of their stores. Investing in this is a good option .

In addition, we’ve prepared a few tips to get you started on managing and planning your pharmacy right now:

Adopt the reconciliation between financial management software and banking aspects;

Properly categorize expenses so that you then have an organized chart of accounts;

Analyze the weight that expense categories have on your pharmacy’s total revenue, above all, by checking the relevance and need for each one.

Tax management

Just as important as financial planning is accounting, tax and tax control.

This is because planning and collecting taxes on time, avoids fines and is able to define the success or failure of pharmacy, both in legal aspects, as well as performance and permanence in the market.

In addition, tax management includes meeting all tax requirements, such as the generation of SPED Taxes and Contributions, NF-e, NFC-e and SAT.

5. Use technology to run a pharmacy

As we commented above, there are several pharmacy systems available in the market that help in this work.

Sales information (eg general and category; sales history), customer registration field, and inventory control space are some of the key features for managers to fulfill their role. All this is possible with technology!

Nowadays, it is impossible to be competitive and make high quality management without having technology as an ally .

Therefore, Business Intelligence (BI) and Enterprise Resource Planning (ERP) software are the key tools for the manager to have the most assertive decision-making capability and integrate the pharmacy sectors (eg sales, purchasing, inventory, cashiers). , credit, accounting, financial and administrative).

How does technology assist in pharmacy management?

In short, with automation you can:

Facilitate Electronic Order Generation (PE);

Make the issuance of NFs more practical and faster;

Have access to Medicines Benefit Plans (PBM), Popular Pharmacy and SNGPC;

Track all pharmacy income and expenses;

Implement modern pricing techniques – consequently, being ahead in the market with better competitive models.

And how to adhere to technology?

Click here to find out what is the best system for your pharmacy !

6. Invest in knowledge to run a pharmacy

Knowledge begets wisdom. Wisdom is what transforms mere managers great managers of success .

Good management of the POS requires the manager, increasingly, knowledge, commitment and support of technological solutions. You need to apply different business strategies to beat the competition and make your pharmacy competitive in the marketplace.

Investing in knowledge , whether in your industry or management itself, is the highlight of being a good leader and achieving the best results.

You need to have the pharmacy numbers in hand, but the ability to always think ahead of your competitor, with property that only knowledge guarantees , is what will bring more firmness and efficiency to management. In case you want to import medicine, you can get in touch with the best pharmaceutical exporters online.

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