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Navigating Big Pharma Inventory Management Trends in a Changing Landscape

The COVID-19 pandemic has significantly disrupted numerous industries worldwide.

The pharmacy market is no exception.

It has become crucial to understand the lasting impact of COVID-19 on the pharmacy industry and the challenges it presents in inventory waste management.

The Impact of COVID-19 on the Pharmacy Market

The COVID-19 pandemic brought about drastic changes in the pharmacy market, reshaping consumer behavior and placing immense pressure on inventory management.

During the early stages of the pandemic, panic buying and stockpiling led to shortages of essential medications and healthcare supplies.

As a result, pharmacies faced challenges in maintaining a steady supply chain and optimizing inventory levels.

Moreover, the rapid development and distribution of COVID-19 vaccines posed unique challenges in terms of managing vaccine stockpiles and ensuring efficient distribution across populations.

Vaccination campaigns and the need for storage at specific temperatures presented additional complexities for pharmacies, further straining their inventory management systems.

Challenges in the Inventory Waste Management Practice

The pandemic has exposed several challenges in inventory waste management for pharmacies.

With rapidly changing demand patterns, pharmacies had to find ways to reduce the wastage of medications and medical supplies that expired or became obsolete due to shifting consumer needs.

The expiry of such inventory not only leads to financial losses but also undermines the sustainability efforts of the pharmacy industry.

Factors Affecting the Pharmacy Market in 2023

1. Supply Chain Disruptions

The COVID-19 pandemic exposed vulnerabilities in global supply chains, affecting pharmaceutical manufacturers’ ability to procure raw materials and distribute products.

Disruptions in the supply chain can lead to delays in restocking pharmacies, leading to inventory waste management challenges.

2. Changing Consumer Behavior

The pandemic has altered consumer behavior, with an increase in online ordering and home delivery services.

Pharmacies have had to adapt to meet these changing demands, leading to shifts in inventory management strategies and logistics.

3. Regulatory Changes

The pandemic prompted regulatory authorities to introduce new guidelines and protocols, impacting the pharmacy market.

Compliance with these regulations adds complexity to inventory management, particularly in terms of storage, handling, and disposal of medications and vaccines.

Emerging Trends and Strategies to Mitigate Challenges

1. Technology Adoption

Advanced inventory management systems and data analytics can help pharmacies

  • Gain better visibility into stock levels
  • Predict demand patterns
  • Optimize inventory

Automation, such as robotics and AI-driven solutions, can streamline processes and reduce errors, which results in minimal inventory waste.

2. Collaboration and Communication

Pharmacies can strengthen their relationships with suppliers and manufacturers through improved collaboration and communication.

Building resilient partnerships can help ensure a more reliable supply chain and facilitate efficient inventory management.

3. Efficient Cold Chain Management

Investing in robust cold chain infrastructure is essential with the ongoing need for specialty vaccinations and temperature-sensitive medications.

Proper storage, monitoring, and distribution of temperature-sensitive products can reduce waste and enhance patient safety.

4. Centralized Inventory Management

Building a centralized inventory management system can improve efficiency and streamline operations.

By assembling inventory data from multiple locations, pharmacies can

  • Gain a detailed view of stock levels
  • Minimize duplication
  • Facilitate better coordination

5. Demand Planning and Diversification

Pharmacies can diversify their services by including

  • Health and wellness alternative products
  • Supplements
  • OTC medications

It can help pharmacies adapt to changing consumer demands and reduce the risk of inventory waste.

6. Regular Inventory Audits

Regular inventory audits can help in identifying and addressing inventory waste.

By regularly reviewing stock levels, identifying slow-moving or obsolete items, and taking appropriate action, pharmacies can proactively manage their inventory and minimize waste.

Address These Challenges with an All-in-one Pharmacy Software Solution


We’ve developed a pharmacy software solution that can assist you with almost all pharmacy-related tasks.

Our solution offers a wide range of functions like,

  • Patient dashboard
  • Partner dashboard
  • Reminders for refill orders
  • Automatic prescription refills
  • Reminders for prescription renewals
  • Integration with Pharmacy Benefit Management Systems (PBMS) and partner software
  • Automatic placement of orders in the software of partner
  • Automatic updates on tracking details
  • Restricted visibility of medications
  • Automated emails and notification alerts to your patients and partners
  • Order configurations tailored to specific requirements
  • Reports on cost savings
  • No restrictions on the number of partner pharmacies
  • Customizable discount rates for each partner pharmacy
  • Analytics and reports tailored to your needs
  • Label templates and invoicing

This is not the best part yet.

You can get our solution customized according to your pharmacy workflow.

Why should you trust us to develop your pharmacy software?

We are the ‘Jack Of All Trades’ when it comes to Healthcare Software Solutions

We, at SyS Creations, are dedicated to making healthcare a better place with our innovative solutions.

With our extensive experience working in the healthcare industry for 8+ years, we have acquired excellent knowledge about healthcare regulations.

Hence, compliance is something you shouldn’t worry about.

We don’t just deliver projects but, peace of mind to our clients.

Hit the contact button and let us have a productive discussion.