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Helping Pharmaceutical Retail Consortiums Use Data to Create the Best Value

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Phani Madhav Chegu,

January 22, 2024

Helping Pharmaceutical Retail Consortiums Use Data to Create the Best Value

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Solunus’ rich expertise in implementing Salesforce solutions enables consortiums of retail pharmacies to maximize buying efficiency and ensure high business transparency.

As we all know, collaborative buying continues to be the mainstay of pharmaceutical retail procurement initiatives. However, legacy software systems often fail to meet the operational visibility and product demand estimation needs of individual drugstores that come together to form procurement consortiums.

Experts at Solunus help resolve the problem by delivering customized solutions to make the best use of data – the CREST Salesforce partner organization’s capabilities allow the buying consortiums to provide the big picture of their activities as they take place and leverage feature-rich predictive analytics tools to forecast product demand precisely.

“Data is the key to the success of consortium-based buying. Revolutionary developments in cloud computing and Artificial Intelligence (AI) are transforming the way pharmaceutical retail buying groups access data and use it. Unfortunately, most legacy platforms are no longer able to meet the information needs of modern drugstores – from estimating product demand to submission of bids to fulfillment by suppliers, the businesses seek a 360-degree view of the procurement cycle in real time. Our ability to help retail consortiums use Salesforce effectively to formulate data-backed strategies and share purchasing information seamlessly goes a long way in building trust and delivering the highest ROI to their members,” says Santosh Gopinatha, who leads the pre-sales function at Solunus.

The capabilities of our team to enable proper use of historical sales information to develop effective models to predict product demand help consortiums of drugstores to utilize their resources optimally.

“Most pharmaceutical retail buying organizations have tons of data that can be used to forecast product demand. The problem arises because they don’t have the right systems in place to leverage this data to make a good forecast,” points out Sravanthi Aitha, Principal Architect at Solunus. “We make the difference by setting up frameworks that allow the members of a consortium to collaborate smoothly and exploit the sheer power of novel AI tools to know exactly what consumers demand. For example, our experts can help a group of pharmaceutical retail outlets in a region perform comprehensive drug-specific demand analyses to identify buying patterns in a particular month. Armed with this information, they can draw up a suitable collective purchasing plan.”

The vast experience of our specialists in designing tailor-made solutions to automate data processes allows us to provide a decisive competitive edge; high-quality process automation enables pharmaceutical retailers to minimize errors and enhance data usage efficiency in a big way.

“Cutting-edge applications help us automate data processes in very short timeframes with minimal expenditure. Our seasoned technologists can customize a wide variety of pre-built templates to enable pharmaceutical retail purchasing consortiums to automate their data workflows without hassles. For instance, we can automate the generation of vendor performance scores and trigger an e-mail to convey the same to each member of a consortium in real time,” explains Dilip Singh, Director – Solution Development at Solunus.

We fully understand the data needs of no two pharmaceutical retail consortiums are alike. The ability of our engineers to deliver the perfectly-customized solution to the needs of each buying collective is the key to our success.

“Our people follow a proven ‘needs-first’ approach to help our clients make the best use of technology. This strong focus on comprehending specific data usage requirements allows us to provide the right solution that meets the requirements very effectively, delighting the customers,” shares Banu Ramamurthy, the Chief Technology Officer of Solunus.

The data revolution in the pharmaceutical sector has begun. Team Solunus’ innovative solutions help drugstore consortiums to drive transparency and procurement efficiency, enabling them not only to enjoy good profits but also serve the consumer well. Are you ready to reap the rich benefits of your data?

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About Solunus

Solunus is a leading Salesforce consulting company, based in Dallas, TX, USA. Our proven ‘needs-first’ approach coupled with our unrivaled expertise of the Salesforce platform enables us to provide the perfect solution to help you deliver delightful services to customers and achieve rapid growth.