Page 14 - P4304.1-V96_PS-Magazine-April 2024

Stock ordered outside of your main generics scheme can be
cheaper but the research and price confirmation needs to be
done each time you order. What often happens is that an odd
cheaper line is identified on the back of some research and then
that seems to provide a carte blanche for off scheme ordering
for a whole host of other products. This is where your losses
come from. You must control this type of purchasing if you are
to retain profitable margins on your generics. Test this opinion
if you like – look at your generic purchases from your second or
third line wholesalers; are they cheaper than tariff? Remember
you need to take clawback into consideration too. Now are they
still profitable? I am sure you will find many are not.

So here are three simple interventions for you
to consider today which could make a massive
difference to your profit margin. All are
focused on reducing avoidable loss. Address
these and make sure your team understand
and you will reap the financial benefit.

If you have any questions, please email

me at carolinepond@chasepeople.com

14 PS Magazine | Looking for profit Buy direct online at PSUK.co.uk