Transcending the Pharmaceutical Barriers in Hong Kong
While the Hong Kong pharmaceutical industry is going through internal structural changes, it has been discovering with regularity, firms emerging which address the mashup customer journeys challenging them. Besides the various inequalities at the public regulatory system and the supply chain disorder, which are the most essential problems to solve, the industry emerges as a player which has to use other, far more powerful, operational tools than high-performance point-of-sale (POS) systems. In spite of such risk, the need for a high-performance POS system has been the most pressing. The software systems easily deal with the interchange of funds between the buyers and sellers, coming therefore to be one of the major structural elements. In addition to the fact that these firms have to collaborate with retail and pharmacy, which are the fields that have their own unique and specific problems, they have to utilize the specific retail and pharmacy aspects of the POS systems to deal with their general problems.
Specific and General Problems of Hong Kong’s Pharmaceutical Sector
Hong Kong’s pharmaceutical sector has to meet extra struggles. One tough nut to crack is the ever-changing and sometimes arbitrary regulatory rules. Drug manufacturers find it harder all the time to fulfill the strict compliance criteria, the changes in the regulations, the new approvals which are often times very different from the ones of some other countries. Apart from that, the threat and cost of counterfeit drugs and medication that are floating in the market are very pressing. This is why they need it to be urgently adopted so that they can track and authenticate the drugs. Moreover, the city must deal with the over-population problem and quick market changes. For Eldorado Pharmaceuticals, the best practice for achieving the success quota might be the generation of the new drugs that were the first to reach the market and were completely different from the others.
Complications such as the supply chain disruption due to the cold geopolitical elements embroil the majority of industries, especially that of pharmaceuticals and retail.
Meantime cyber-security is another major issue plaguing the digital era firms. Companies from both sectors in Hong Kong are the ones who first address protecting the absorbed databases and then focus on managing operations effectively. Therefore, it should not be surprising to see the pharmaceutical firms pursuing measures regarding the cybersecurity of their logistics?
Leveraging POS Systems to Tackle Industry Dilemmas
Under the influence of high-tech, the POS systems, health care, and retail businesses are made able to email through many hurdles without straining. A performance measurement system (POS) that manages the business supply chain is quite beneficial software for health care firms that record their stock in real time, thereby reducing waste and improving profitability. To a great extent, these systems harmonize well with logistics partners which leads to timely delivery, thus more efficient operations overall.
In PARTICULAR, POS systems are security data applications that are impossible to ignore. They are built with encrypted databases and secure payment systems to protect against cyber threats, thereby ensuring the confidentiality of sensitive customer and product information. With the integrated network, turnover and improvement are possible for the manufacturers as they can create sales reports, predict the market, and adjust their strategies against competition.
Going one step further in the customer service area, membership and loyalty systems which are easy to access via the POS system may help the pharmaceutical firms to establish long-term relations with their clients and thus, through one-time purchase turnover into repeat customers with personalized suggestions, which correspond to membership benefits and loyalty systems, improve the customer retention rate.
Steps for Efficient POS Performance
In order to have a stable POS system, the firms should go through a process involving a systematic plan. The initial step is to set the organizational objectives and ensure that they are in line with the objectives of the POS system. The participation of the stakeholders in the choice of the best system will lead to the provision of necessary resources for all departments to fulfill their operational needs. Continuous training enables the employees to make the most out of the system. Digitizing the procedures with training can shorten the transitional period and cause less disruption to the staff.
Common system audits and repairs are the guarantee of effectiveness and security. This is accompanied by a flexible POS system being selected to create a suitable business environment for the growth of the firm. Thus, it aids in selecting the one that will continue to evolve as technology changes.
How Multiable’s aiM18 POS Relieves Industry Issues
1. Chain Store Management: Efficient Road Coordination: Ensures smooth operations across numerous sites while optimizing cross-site inventory and resource allocation.
2. Encrypted Membership Database: Advanced Security: Protects customer and firm data against unauthorized access, ensuring compliance with stringent data protection regulations.
3. Real-time Integration with Finance System: Operational Excellence: Enables accurate financial tracking and reporting in real-time, aiding in better financial planning and resource management.
4. Automatic Selection of Logistics Service Provider by A.I.: Streamlined Processes: Automates the selection process of logistics partners, thereby enhancing supply chain efficiency and delivery accuracy.
5. Unlimited User-Defined Tables, Tags, and Fields: Customization and Flexibility: Allows changes to the POS without needing additional software, offering an edge in competitive markets.
Integration with Global e-Commerce Platforms: Expanding Market Reach
Multiable’s aiM18 POS system offers seamless integration with global e-commerce platforms like Shopify, Amazon, and eBay. This means Hong Kong pharmaceutical retailers can easily manage the online retail aspect of their business besides the traditional one, thus expanding their market access. By supporting popular payment methods such as WeChat Pay and Alipay, retail businesses can cater to diverse consumer preferences and become more competitive.
What is Multiable POS ?
Multiable POS is a cloud-native POS targeting retail groups with sizable chain stores in Singapore, Malaysia, Hong Kong and China. With over 6,000 customers in the region, Multiable POS gains positive feedbacks from public companies and multinationals across different sectiros, from cosmetics, furniture, fashion, healthcare, pharmaceutics, sportswear and toys etc. The renowned no-code approach saves customer a big sum of customization costs and countless hours of implementation man-days.
What is LAIDFU (Let AI Do for You)?
LAIDFU is an AI tool for enterprise to build their own AI agents to perform various business AI tasks.
Proprietary EKP (Enterprise Knowledge Partitioning) technology eases CEO’s concern about trade secret leakage which often occurs in most AI agents / chatbots in the market.
EKP removes the hurdle of business AI adoption by most companies in using sensitive corporate data.
Powered by no-code approach, deployment of LAIDFU incurs far less developers (and development costs) in comparison with other AI tools.
LAIDFU empowers business, with or without an ERP system in place.
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