Pharmacy Stocktaking – the art of Counting

Pharmacy Stocktaking – the art of Counting….What can you expect from your pharmacy stocktake, and how can you ensure it goes smoothly? 

In this Christie & Co guest article, Dave Brittle, Head of Orridge’s pharmacy stocktaking services, talks us through the stocktaking process.

Whether you are considering a sale, a purchase, or are just trying to keep tight reins across your pharmacy business, one important aspect that’s common to each is stock control.

Regardless of the purpose, whether for prudent business management or to support a sales/purchase process, a stocktake is a detailed affair that has developed significantly with advances in technology over recent years. Accordingly, Orridge invests in technology and R&D and uses the latest in barcode scanning processes in its counts.

Undertaking the stocktake: What to expect

Most counts are conducted during weekday opening hours but out-of-hours and weekends are optional.

Either on arrival or ahead of the stocktake (depending in its purpose) the principal terms of the stocktake are agreed. For example:

When a stocktake is for sale purposes, the treatment of short-dated stock will need to be established. Often it is agreed that stock with an expiry date of three months or less is identified, removed, and excluded from the valuation. Likewise, for standard stocktakes, the pharmacies remove short-dated stock as part of their stocktake preparation.   read more…..