Virtually eliminate loss due to expired inventory.
Date: 16-07-2008
Author: Dana Carder
Number of Views: 182
Don’t let creditworthy out-dates rob you of thousands of dollars every year, especially in this climate of shrinking margins and reimbursement nightmares! When we are asked "how can I get the most credit for expired inventory", the best answer is;
Process Your Returns Early And Often
Shipping your returns to a reputable reverse distributor as frequently as possible is absolutely the best way to avoid losing returns credits due to missing the "returnable window". It is far better to process your returns monthly than to wait until you accumulate "enough" to send. By waiting too long, you will inevitably lose money. In any event:
Quarterly Processing is Great and Monthly is Better!
Returns policies not only change from time to time, there are hundreds of pharmaceutical manufacturers all with different returns policies. Not to mention the effect of mergers and acquisitions.
Don’t try to keep up with this volatile maze of policies and procedures. Some manufacturers require that you return product three months after it expires, or, even six months before.
Frequent shipments to a reverse distributor, that will process your returns on a timely basis, do away with this frustration and virtually eliminate loss of returns credit due to missing the "returnable window".
We have designed our Targeted Inventory Management System to be quick and easy at the pharmacy, yet relentlessly effective at processing high volume at low cost with uncompromising quality. RxNet’s integrated approach to managing out-dates features TIMS Unlimited, Return Alert, Return Policies Online, Inventory Sharing and the Motorola MC1000 for quick and easy data capture. Combined with eReconcile, this comprehensive returns management program assures you of maximum credit at minimum cost through refined efficiency and economy of scale.
Major Benefits of Frequent Returns Processing
Continually convert out-dates into cash
Avoid loss due to missing the "returnable window"
Maximize credit for returns
Comply with hundreds of varied and volatile returns policies
Insure compliance with the DEA and State Board of Pharmacy
Enhance inventory control