26 min

Pharmacy Alliance built on Technology Pharmacy View Podcast

    • Business

This episode of Pharmacy View Podcast features Simon Reynolds, Managing Director and Co-Founder of Australia’s largest Independent Pharmacy Group - Pharmacy Alliance. During this gripping conversation, Host Scott Carpenter, EVBC and Simon talk about how technology has been a key driver behind the success of the Pharmacy Group and how it will continue to be leveraged for the good of not just the members but also the communities being served, at large.
The son of a pharmacist and then being mentored by his dad (who also became his business partner), developing a passion for ownership of an independent pharmacy came naturally to Simon. Then having grown up around pharmacists, Simon started his own Pharmacy buying group in 2002, building it around a technology platform with centralized IT department, centralized product sales systems, and centralized control over stock and price management of the member stores. That platform by 2008 evolved into the Pharmacy Alliance Generic Matrix (PAGM) that maximizes dispensary growth and buying efficiency. The goal of the system, Simon emphasizes, is to make it as easy as possible to operate with the use of an Inventory Intelligence Program—from guaranteeing that the shelves are stocked, to providing the right pricing, to not having to pay for the stock until they are dispensed, to even checking for redundancies and overstocking.
While the onset of COVID hit many hard, Simon talks about how people moving back to their rural communities tied in with national vaccination drive meant that the independent pharmacies benefitted from the sheer growth in volume. He does, however, acknowledge that technology could have been better used during the period when it came to POS, pricing and profit margin, among others. Calling technological integration, a prerequisite for growth in the industry, Simon is proud to have a team of dedicated professionals that tailor makes training, systems, and processes for member pharmacies because there certainly isn’t a one-size-fits-all in the pharmaceutical industry.

Topics Covered
• How Pharmacy Alliance Came into Being
• Using Technology in the Pharmaceutical Industry
• Pharmacy Group Manager (PGM)
• Impact of COVID on the Industry
• Future of the Industry from the Tech Perspective

This episode of Pharmacy View Podcast features Simon Reynolds, Managing Director and Co-Founder of Australia’s largest Independent Pharmacy Group - Pharmacy Alliance. During this gripping conversation, Host Scott Carpenter, EVBC and Simon talk about how technology has been a key driver behind the success of the Pharmacy Group and how it will continue to be leveraged for the good of not just the members but also the communities being served, at large.
The son of a pharmacist and then being mentored by his dad (who also became his business partner), developing a passion for ownership of an independent pharmacy came naturally to Simon. Then having grown up around pharmacists, Simon started his own Pharmacy buying group in 2002, building it around a technology platform with centralized IT department, centralized product sales systems, and centralized control over stock and price management of the member stores. That platform by 2008 evolved into the Pharmacy Alliance Generic Matrix (PAGM) that maximizes dispensary growth and buying efficiency. The goal of the system, Simon emphasizes, is to make it as easy as possible to operate with the use of an Inventory Intelligence Program—from guaranteeing that the shelves are stocked, to providing the right pricing, to not having to pay for the stock until they are dispensed, to even checking for redundancies and overstocking.
While the onset of COVID hit many hard, Simon talks about how people moving back to their rural communities tied in with national vaccination drive meant that the independent pharmacies benefitted from the sheer growth in volume. He does, however, acknowledge that technology could have been better used during the period when it came to POS, pricing and profit margin, among others. Calling technological integration, a prerequisite for growth in the industry, Simon is proud to have a team of dedicated professionals that tailor makes training, systems, and processes for member pharmacies because there certainly isn’t a one-size-fits-all in the pharmaceutical industry.

Topics Covered
• How Pharmacy Alliance Came into Being
• Using Technology in the Pharmaceutical Industry
• Pharmacy Group Manager (PGM)
• Impact of COVID on the Industry
• Future of the Industry from the Tech Perspective

26 min

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