The P4 solution is a sophisticated, cloud-based software platform that uses scientific forecasting and replenishment tools to better manage a pharmacy’s inventory.
Can be used in the Retail Pharmacy and Hospital Pharmacy
The Impact On Your Pharmacy
Watch this brief video to learn how P4Rx will positively impact your pharmacy through the most effective inventory optimization solution available.
"I have been a pharmacy owner for over 8 years. The P4 system is by far the single best business decision I have made for my pharmacy. The system is so user friendly and very intuitive. I was able to reduce my inventory by over $100,000 and increase cash flow within just a few weeks. I would highly recommend any pharmacy owner to invest in the P4 system!"
Owner of West End Pharmacy
With accurate forecasts and a statistical replenishment model, you will have the right quantities of inventory at the right time.
Free up cash
Increase your inventory turnover rate
Reduce operating costs
Significantly reduce slow moving items
Recommends returns for items if it is more cost effective to return that item than wait for it to sell down.
Move inventory within your own network of stores instead of buying unneeded inventory from wholesalers.
Pricing optimization and availability:
P4Rx recommends the most cost effective bottle size to order that minimizes the total cost of carrying a given drug. Aslo, since we integrate with your wholesalers, you will not only have better visibility of drug availability and pricing, P4Rx will automatically identify where to buy to maximize your rebates, get best pricing and ensure you stock what is needed to maximize service levels.
Increased revenues by having fewer out of stocks.
Manage Cash Flow:
Projected inventory levels help you manage you cash flow because they give you insight on what items will be more beneficial to invest in for the future.
Increase Service Levels
You set target service level goals and P4's sophisticated algorithms give you the tools to meet those goals
Forecasts trends and seasonality of product demand
Forecasts day of week and day of month sales patterns
Intuitive and easy to use
Technology is easy to implement and maintain
Point and click user interface
Daily ordering process can be totally automated
“The upfront charge is just pennies on the dollar with regard to the savings we have seen with both time and money…”
Owner of Inola Drug
Patient Specific Forecasting
Patient-Specific Forecasting was developed to help pharmacies manage their high cost, maintenance drugs. Because it can be difficult to accurately forecast these types of drugs, P4Rx uses a separate forecasting algorithm to recommend when to order them. Instead of using the demand history to forecast the number of units sold each day, the Patient Specific Forecast algorithms use patient script fill history and past behavior to predict when they are most likely to come in for their next prescription fill. This allows P4Rx to automatically create a schedule for each combination of patient and the drug they are taking.
Smart Cycle Count
The Cycle Count feature in the P4Rx is an additional way P4 helps you keep your inventory accurate and profitable. Instead of counting all of your inventory once a year, the Cycle Count feature provides short lists of drugs to efficiently count small portions of your inventory each day.
Demand patterns in a pharmacy vary by day of week and day of the month. Some drugs have seasonal patterns and others don’t. Demand for certain drugs is growing while demand for others is shrinking. As you know, many drugs are very costly. Doesn’t it make sense to forecast all of these demand patterns to not only save money but provide your patients with the best possible service and care? P4 makes all of this easy for you.
A Powerful Replenishment Tool
The P4 solution allows you to take complete control of your pharmacy’s inventory. With tools that are intuitive and easy to use, you decide at the SKU level what service levels you want to maintain for your patients and how much you are willing to invest in inventory.