The start-up’s cloud-based platform named SmartMile allows drug retailers to keep track of their inventory.
For drug stores, the biggest problem is inventory management, especially keeping track of expired inventory. To mitigate the problems faced by small retailers, Bengaluru-based start-up Tarnea Technology Solutions introduced SmartMile platform that helps stores keep track of inventory, alerting store managers about products that are near expiry date, thereby automating the process. This saves retailers from losses as they are able to return the products to distributors or companies directly, in due time, if not sold.
Founded in 2013 by Suresh Satyamurthy along with Madhav Sitaraman and Senthil Rajagopalan, the start-up connects sellers with vendors and suppliers to help them come at par with some of the big retailers.
SmartMile today caters to hundreds of customers in Andhra Pradesh, Telangana, Tamil Nadu and Mumbai. Some well-known drug stores such as Pradhan Mantri Jan Aushadhi Kendra in Hyderabad, Arogyaraksha Pharmacy group in Vijayawada, and Maaruthi Medicals in Erode are users of the SmartMile platform.
With almost 200 retailers on the platform, SmartMile enables brick-and-mortar pharmacies to become digital pharmacies with an ability to transact with customers and suppliers, both online and offline. Any retailer who has a computer system and owns a mobile phone can use Tarnea platform.
Says Suresh Satyamurthy, “Our platform has eliminated retailers’ losses due to issues like drug expiry and stockouts, and has helped them improve aspects like customer service, engagement and store traffic, purchase management, business control, etc. Our customers have seen a reduction in their inventory of over 50%, while their revenues have gone up by 50-100%.”
According to Tarnea officials, the SmartMile platform is the first cloud-based platform for pharma retailers. The platform is available in over 100 locations serving over 8 million transactions and offers automatic data management to retailers of over 120,000 SKUs covering over 2,000 brands of pharmaceutical, FMCG, OTC and clinical supply products. Over 5 lakh customers have been served through the platform so far.
Written by Sandhya Michu | New Delhi
Recently, the National Sales Manager of a prominent Brand asked me a question – “Does the Tarnea iPlaza help overstocking and under-stocking?”
He was obviously worried about unsold returns and also not having enough stocks on the shelf resulting in a missed sale.
After an increase in cases involving the sale of fake medicines online,
the government has tightened regulations to ensure the authentication of online pharmacies.
According to the new Ministry of Health and Family Welfare draft rules,
Tarnea Technology Solutions is a digital transformation company focused on streamlining small retail businesses, particularly pharmacies, across India. Their flagship product, EasyRx, is a cloud-based platform that helps small retail pharmacies manage inventory, billing, and prescriptions in real time.
In the dynamic world of Direct-to-Consumer (D2C) marketing, striking a balance between automation and human touch is essential. We’ve perfected the art of optimizing algorithms and fine-tuning conversions, but it’s crucial not to lose sight of the human element that drives our efforts.
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