Drug Store and Business Management (Theory)

Introduction to Trade and Industry Objectives and scope of business Classification of business activities industry, commerce, trade Forms of business organization: sole proprietorship, partnership, cooperatives, corporations Features and merits/demerits of each form Pharmacy business and its legal considerations

Drug Store Management Selection of site, space, and layout of a drug store Types of drug stores hospital pharmacy, community pharmacy, chain pharmacy Procurement of drugs and inventory control Storage conditions and stock maintenance (cold storage, poisonous drugs, etc.) Records and registers to be maintained

Inventory Control and Sales Promotion Introduction to inventory control: need and methods Economic Order Quantity (EOQ), Reorder Level (ROL), Lead time FIFO and LIFO methods Sales promotion techniques: advertising, displays, discounts Customer relationship management (CRM) in pharmacy

Financial Management and Bookkeeping Basics of accounting: journal, ledger, trial balance Introduction to financial statements: profit and loss account, balance sheet Pricing policies: markup, markdown, break-even analysis Bank transactions: types of accounts, cheques, drafts Taxation basics: GST, income tax (as applicable to pharmacies)

Pharmaceutical Marketing and Entrepreneurships Definition and scope of pharmaceutical marketing Elements of marketing mix (4Ps) for pharmacy Drug distribution channels: wholesale and retail Entrepreneurship development in pharmacy Regulatory aspects of retail drug licensing (Drug and Cosmetics Act overview)