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Thousands of pharmacies in Spain already manage their purchases and inventories aided by Predictive Algorithms

Thousands of pharmacies in Spain already manage their purchases and inventories aided by Predictive Algorithms

Some companies use applications that can run predictive analytics to pursue their marketing and sales objectives. Predictive algorithms can help your company create marketing campaigns, sales or professional services, to give some examples. These tools also allow you to have control over how you perform optimization. Definitely, they are a requirement in the company to position and focus your efforts successfully using mathematical models.

How does predictive analytics work?

Predictive analysis is the process in which information analysis is used to make predictions based on the data. This process is done together with analytical, statistical and machine learning techniques in order to create a predictive model or a quantitative prediction to predict future events effectively. Predictive analysis starts with a commercial objective: use the data to save time, control inventories, monitor purchases or reduce costs.

Pharmaceutical management of purchases and inventories aided by predictive algorithms

Surely, something common among thousands of pharmacies is the incessant concern regarding the stock, and we know that it is essential to have a sufficient assortment to meet the demand of our customers, but at the same time it should not be excessive to avoid losing profitability on him. Everything is complicated when the control of the inventory in the pharmacy is carried out with non-intelligent tools, which demand exclusive dedication from pharmaceutical professionals, making decision is turning even more difficult. This can cause large losses when mistakes are made in the purchases and there is over-stock or when the product is not purchased in time and a stock rupture is originated.
Likewise, it is quite difficult to control all market offers and make an efficient purchase management. That is the reason why we end up buying on impulse or in a forced way, which often makes us lose a good profit margin.

How can we achieve better purchasing and inventory management? Where is the key to efficient management?

The answer is simple; we can improve the efficiency of both processes through the use of predictive algorithms that will save you time, effort and money. These technical initiatives could optimize your inventory management, if you consider each planning process and predict those events that will change your stock day after day. In short, the measurement must be constant, since what may be sufficient in one month may not be the next; because the client is no longer interested in your products or otherwise, the demand increases.

This is the reason why thousands of pharmacies in the world are already making use of predictive algorithms. Understand that optimizing purchases does not mean that you are going to bet on the lowest price. Other factors must predominate, such as selection criteria of the ideal provider, taking into account payment or delivery deadlines, etc. Although this does not depend only on the pharmacy, it is necessary to take into account the logistics (delays, deliveries, product changes), product range, etc.

Now it is possible to assign these precise resources to respond to the aforementioned factors thanks to ebuyFarma.

With the use of intelligent tools applied to administration, such as predictive algorithms, you will achieve:
- Have an updated/real report of your stock on hand.
- Improve customer service.
- Strengthen your brand.
- Instantly search your products.
- Get a list of offers of those products that you will need in a predictable way and do not have in the warehouse.
- Manage in an integral way each and every one of the orders (online and offline).
- Keep a register of entry and exit of drugs and other pharmaceutical products.
- Advance seasonal demand and demand increases based on your historical data.
- Control of offers, orders, billing or keep a list of your contacts with delegates.

ebuyFarma puts at your disposal predictive algorithms that can take your pharmacy or laboratory to the next level. Do not wait any longer, get REGISTRY FOR FREE.

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Tuesday, 26 May 2020

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