Answer to Question #150635 in Management for 123

Question

Nemeds.com one of the largest e-pharmacies clans mure thun 3.7 million customen in over 610 cities and towts. The murket si of e-phurmicies wits approximitely $512 milka (Rs 3,500 crore) 2018. It predicted that there will be a compounded annually growth rate (CAGR) of 63 per cent which will reach 53.6 billion (Rs 25,000 crore) by 2022. Explain how information system help in m ing the supplies of medicines by online plumucies and delivering them to customers.

Answer 1

An information system can help an e-pharmaceutical company to receive supplies and deliver orders to customers on an online platform in several ways. Firstly, the system can help the pharmacy to manage the stock of medicines (Eme et al., 2018). This can be achieved through monitoring of the drugs and other pharmaceutical supplies, such as disposables. The information management system helps the management of the e-pharmacy to get the right information instantly. Sarker et al. (2019) opined that using an information system will enable the management of the e-pharmacy to get the information that is required in terms of the remaining stock, number of orders placed by customers, and the number of deliveries successfully made to customers. Having the right information on the remaining stock ensures that the pharmacy does not run out of stock and supplies resulting in an enhanced customer experience.

According to Sarker et al. (2019), the pharmaceutical information system can help the management to monitor the customers' purchase history and other important data. The information system will enable the management of the e-pharmacy to effectively manage the pharmacy's resources and inventory and ensure correct invoicing. Inventory management can help the pharmacy to monitor drugs, equipment and any out-of-stock products. The management can use the information system to provide accurate and timely reports on the expected time of delivery of the medicines to the customers. Additionally, an information system can help the management of the pharmacy to monitor sales, prices, and equipment sold.  An effective information system can also help the pharmacy to track customer orders and supplies from the suppliers in a timely and accurate manner (Eme et al., 2018). Information system enables online management of the pharmacy; hence, eliminating the need for physical presence. It is also through the system that the management of the pharmaceutical company is able to monitor its expenses, sales, revenue, and the overall profitability of the pharmacy. Overall, a pharmaceutical information system is essential in ensuring that the pharmacy gets to efficiently monitor the stock levels, track customer orders, monitor supplies, and ensure accurate customer deliveries.

References

Eme, O., CA, U. U., Uwazuruike, F. O., & Ukpai, C. U. (2018). Computer-based drug sales and inventory control system and its applications in pharmaceutical stores. International Journal of Education and Management Engineering, 8(1), 30.

Sarker, S. K., Bhas, G., Paul, R., Pal, H., Yusuf, M. A., & Eva, E. O. (2019). E-Pharmacy utilization on the spectrum of digital pharmaceutical practices, patterns and challenges in Bangladesh. Journal of Shaheed Suhrawardy Medical College, 11(1), 43-47.