Today’s pharmacies do much more than prepare and sell prescription and over-the-counter medications. With a varied selection of in-store products, in addition to order fulfillment and assisted shopping services, pharmacies represent an increasingly complex type of retail business.
The contemporary challenges of inventory management, customer satisfaction and omnichannel shopping are creating a demand for innovative solutions for all types of brick-and-mortar outlets. Fortunately, technological solutions such as electronic shelf labels (ESLs) are available to address the various difficulties that pharmacies face in this fast-evolving sector.
How ESLs can improve pharmacy inventory management
Electronic shelf labels can do much more than just display the price of an item. They can be integrated with sales management software to track inventory, provide additional product information and more.
Pricer ESLs are equipped with Instant Flash, LED lights that are designed to flash at the scan of a product or the press of a button. These can be used in conjunction with the brand’s geolocation technology to guide employees on the floor to products that are listed in the system as having low or negative stock levels. The flash-guided solution can also be used to prevent products from being restocked incorrectly (e.g. placed on shelves with similar but not identical products).
Pricer digital labels are also able to display additional pages with information such as the last order date and quantity, planned delivery dates, average quantities and sales, etc. These pages can be displayed at scheduled times or accessed in real-time via a handset.
The additional information and guidance provided by ESLs can streamline pharmacy inventory management, improve data accuracy and reduce human error.
Order and pricing accuracy in pharmacies
Consumers expect their orders to be fulfilled accurately, and prices to be fair and up-to-date. Digital price tags can help pharmacies accomplish both of these goals.
Streamlined order picking
The rise of online shopping and the pandemic have led to major shifts in consumer shopping habits. “Click and collect” ordering has become popular, even for essentials such as groceries and pharmacy items. The task of going through the store collecting items that was once done by the customers themselves is time-consuming for employees and costly for retailers.
Pricer ESLs can streamline the process considerably. Order pickers can use the Instant Flash lights and geolocation technology to navigate around the store and quickly find the required items, saving up to 10 seconds per pick.
Instant price updates and improved accuracy
While paper labels must be changed manually every time a price is updated, electronic shelf labels are automatically updated through a centralized system and can be changed in seconds at any time. This drastically lowers the labour costs associated with price changes, reduces human error and inconsistencies and improves customer satisfaction. It also helps pharmacies maintain a commitment to sustainability.
Improved efficiency within pharmacies
Digital price tags are proven to improve operational efficiency within a retail environment. Thanks to near-instant updates to information on labels, including pricing, promotions and inventory displays, ESLs make in-store management faster and easier. Gone are the struggles associated with manual errors and time-consuming label-printing. Thanks to the ability to implement dynamic pricing, pharmacies can present accurate price displays in real time, and keep their competitive edge.
Pharmacy customer experience
Thanks to the current digital transformation in retail, pharmacies can offer customers the best possible access to the products they need, and offer all types of customers the fast, simple shopping experience they value so highly.
When ESLs are updated via a central management system, customers can be confident that the price displayed on the shelf is accurate. If they are in search of a promotion, or prefer to make their purchase online thanks to a QR code, digital price tags can make it happen.
In the health industry, where users are potentially in a vulnerable condition, it is of paramount importance that their experience as customers is as comfortable and efficient as possible.
Transform your pharmacy with JRTech Solutions!
Particularly with both pharmaceutical and retail items to manage, inventory management software combined with Electronic Shelf Labels can give pharmacies a major advantage. Digital price tags are a great way to cut costs, improve the customer experience and optimize overall operational efficiency.
JRTech Solutions is North America’s leading supplier of digital pricing solutions from industry pioneer Pricer. We offer cutting-edge electronic shelf labels and other digital signage for retail—pharmacies, grocery stores and more. Contact us today to bring your pharmacy into the digital age!
