How Thrifty White Reduced Inventory Holding Costs by 30%

Last updated May 20, 2020 | Pharmacy Technology

We regularly speak to pharmacists to share how they improve efficiency while saving money. This month we spoke to Thrifty White about how TCGRx’s Beacon® Inventory Management System has helped them minimize the total cost of inventory and improve their pharmacy workflow. Read their story below and take advantage of an exclusive offer for a free remote consultation and 10% off on TCGRx’s Beacon solution.

As with any business, how well inventory is controlled can make or break the business. In the pharmacy world, inventory represents the largest asset which can potentially devastate the business if it is poorly controlled. If that is not overwhelming enough, rising drug prices do not make it any easier.

Since opening in 1884, Thrifty White has grown to 80 locations and provides exceptional healthcare to small towns and cities in the rural midwest. Their success, in part, is due to their exceptional ability to manage inventory properly.

Thrifty White originally had inventory holding costs valued at $400,000 to $425,000. With the help of the Beacon System, they were able to reduce inventory holding costs to as low as the high $200,000 to $300,000. In addition to improving the inventory management, the Beacon solution also ensures prescriptions are filled accurately, improves efficiency and improves the pharmacy workflow.

When we asked Bruce Kaasa, RPh and owner, at Thrifty White Richland Center why they chose TCGRx’s Beacon solution he said, “The records you get out of any of the Beacon aspects are accurate in selecting the drug and in keeping track of inventory. Keeping track of inventory is something that is virtually impossible to do without a system like Beacon. Our accuracy is within 1 or 2 percent when we take an inventory.”

“This solution gives us a high density storage area to fill prescriptions by having the inventory very accessible to the technicians, so it makes for a very efficient filling routine, saving us time, along with being accurate. The technicians have short distances to pick up the drugs. The drugs are right behind them, generally 3 steps away. They do not have to go up and down the aisles to try to find the drug. Instead, the system will actually tell them where the drug is and directs them right to it,“ Bruce stated.

“In terms of accuracy, I can say with confidence the system is nearly 100% accurate. When we do discover an error, it was a human error typically when selecting the drug at input stage and not due to the Beacon,” he continued.

To learn more about how TCGRx’s Beacon system can help you effectively manage your inventory and to take advantage of an exclusive offer for a free remote consultation and 10% off your Beacon purchase, visit TCGRx’s Special Offer Page.

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