Pharmacy's operational processes are complex and require managers to spend numerous hours on manual tasks to analyze big data for purchases, transfers and replenishment. This not only consumes valuable time but also diverts attention from more critical aspects of managing a pharmacy, such as customer care, promotional work and new segments expansions.

Onе powеrful tool that has provеn its worth in solving these obstacles smartly and achiеving required goals is Juleb’s forecasting. Juleb’s forecasting is a smart automated tool used to predict and optimize ideal inventory levels to aid warehouse managers and pharmacy owners make data-driven decisions for their purchases and transfers. This tool can optimize inventory levels, reduce stockouts and overstocked products (expiries), and improve overall efficiency of operations for the pharmacies and warehouses.

By using the forecasting tool, pharmacy managers and owners can save money on expiries and overstocking, improve customer satisfaction, and gain competitive advantage by having trendy and necessary products on hand for all branches.

Let’s go over the features of Juleb’s Forecasting Module and its benefits:

Ideal inventory Quantities suggestions

Juleb Forecasting Tool provides an overview of all historical sales for products per branch, including average sold quantity, annual sales, and auto-calculated new min and max quantities. Allows users to update product min and max fields based on the analysis then make business decisions whether to order more quantities from vendors or create transfer between to replenish stocks between branches.

Reduced expiries and Vendor returns

Juleb Forecasting Tool helps pharmacies identify and eliminate waste by forecasting demand for products. This reduces the risk of ordering too many quantities and having to return it back to vendors when it expires.

Improved customer satisfaction and Competitive advantage (Increased Sales)

Juleb Forecasting Tool helps pharmacies identify opportunities to increase sales by forecasting demand for specific products during certain times of the year (using weight average, recency and product classification algorithms). This allows managers to stock up on those products and promote them to customers. Accurate forecasting of products and quantities ensures that pharmacies have the products that recurring customers need/want on hand, leading to better customer sales and satisfaction.

Automations

In the realm of automations, Juleb's forecasting emerges as a time-saving hero for pharmacy managers. By swiftly analyzing vast amounts of big data, the tool transforms what used to take hours of manual effort into a matter of seconds. This not only enhances efficiency but also frees up valuable time for managers to focus on strategic decision-making and other crucial aspects of their responsibilities.

Better Decision-Making

And for business decisions, Forecasting provides valuable insights for making informed decisions about delivery scheduling, ideal quantities and marketing certain products. It also utilizes replenishment instead of ordering, allowing pharmacies to move products between branches more efficiently rather than purchasing unnecessary products.

Juleb Forecasting Tool is an essential tool for pharmacies that want to optimize their inventory levels, reduce costs, improve customer satisfaction, and increase sales.

For more in depth details of the steps for using Juleb Forecasting module, please check the steps and the end of the blog.

Juleb helps pharmacies make informed decisions that lead to better business outcomes!

Steps for using Juleb Forecasting module

1- Prerequisite and user access rights [1]

2- Products Selection: Users can select products through manual search, filters, or by searching multiple codes.

3- Analyzing historical data: Juleb performs an analysis based on selected products, branch selection, analysis period, min/max quantity in days, base quantity, and other filters. Users can consider lost sales, remove outliers, and view product classification based on sales.

4- Updating Product Fields: Juleb provides auto-calculated new min and max quantities based on analysis filters. Users can update product card fields, including min, max, ceiling, floor, and trigger quantity.

5- Creating Transfer Orders: Users can fill order quantities using the "fill to" option and create transfer orders to move products between branches.

6- Creating Purchase Orders: Users can fill order quantities using the "fill to" option and create purchase orders for specific suppliers.

7- Replenishing using min and max values: Users can fill order quantities using the "fill to" option and create replenishment orders to move products between branches.

[1] Privacy and access rights concerns addressed: Forecasting module follows the same high standards and quality as the rest of Juleb’s ERP system where each tab has its own access rights and can be granted through an ERP manager's account.