With the uncertainty of the past couple of years hopefully behind us, or at least heading that way, it’s important to set your plans for your business for the next 12 months. Here are some recommendations we have for our pharmacy customers in Ireland.
Setting budgets by branch for items, turnover and even margin is not as daunting as it seems. We have all the history that you need as a starting off point, and then it’s just about adding a percentage increase based on your trading forecast for each branch. Rx budgets can be set by scheme or just at total items level, and front of shop budgets can be set at branch level or by department, and both can be set by week or by month.
Whichever way you decide to go, measuring performance against budget is a powerful tool for managing branch performance and ensuring your continued success. Using a pre-set template, Real World Analytics (RWA) can join your budgets with your existing data to clearly show you your variances to budget so that you can take the appropriate remedial action.
For more details, please contact your customer success manager or email pharmacy@realworldanalytics.com and we will get in touch with you as soon as possible.
If you wish to get more details on our Pharmacy Business Intelligence (BI) solution and how we can help you, please contact us at pharmacy@realworldanalytics.com.