Through investigation I have discovered the most frequent potential losses. Number one being, the industries in which Walgreens operates are highly competitive and thus increases in competition could affect the company. The second loss is in relation to seasonal operations. Due to the fact that operations are seasonal, adverse events during holiday season, and flu seasons could impact operating results negatively. The final loss is the failure to meet customer needs on merchandise and services offered which will impact the sales force. The most severe potential losses are Walgreens being subject to government regulations and procedures, disruptions in wholesaler relationship, and a significant disruption in computer systems that could affect operations.
Walgreens stores operate in a broad scope outside of primarily being a pharmacy. Many locations operate twenty-four hours seven days a week while some of its pharmacies also operate twenty-four hours seven days a week. Increasing pressures from industry competi...
... middle of paper ...
... is investing in information technology systems and infrastructures.
In order to stay atop competition, Walgreens should assess their risk management program every year. Due to constant changes in industry regulation and policies Walgreens needs to ensure they are keeping with up standards. Implementation of this process begins with upper level executives all the way down to the store employees. Through investing in the latest technologies Walgreens can improve their bottom line and increase revenue.
Since Walgreens interacts with only one wholesaler that relationship is vital for company success. Managers from both Walgreens and wholesalers should be in constant communication to ensure standards are being met. Through maintaining a healthy relationship, both Walgreens and it’s wholesaler can benefit. Losses are reduced and the liability falls under one company.
Need Writing Help?
Get feedback on grammar, clarity, concision and logic instantly.Check your paper »
- Not everyone has a distinguishable moment in their life when they uncover their true calling and I am living proof of that statement. Growing up, I wanted to become a forensic scientist; that dream changed when I took general chemistry in high school. I fell in love with the subject because it made me think about the complexities of the world around us. Three more chemistry courses and one anatomy course later, I decided I wanted to pursue a career in pharmacy. Believe it or not, it was not just the classes that made me fall in love with the idea of being a pharmacist.... [tags: Pharmacy, Pharmacology, Goal, Pharmacist]
742 words (2.1 pages)
- A company can outperform rivals only if they can establish that it can preserve. Walgreens must deliver greater value to customers or create comparable value at a lower cost, or both. Ultimately, all differences between companies in cost or price is derived from the activities required to create, produce, see and deliver products and services such as calling on customers, assembling finally products, and training employees. Many companies focus on building relationships with their customers instead of always exclusive trying to sell them something transactional marketing.... [tags: Sales, Customer service, Customer, Walgreens]
1200 words (3.4 pages)
- Unveiling the Misconceptions of Pharmacy Pharmacy has been around since the dawn of time, cave men would use their natural instincts and observation of nature to learn how to tend to their wounds and illnesses. However, most people never considered this to be Pharmacy. Typically, when people think of Pharmacists they think of a shriveled old man behind a counter handing out bags of pills all day. Even worse, when people think of Pharmacy or Pharmaceuticals they think of people like Martin Shkreli.... [tags: Pharmacy, Pharmacology, Pharmacist]
1253 words (3.6 pages)
- Pharmacy technicians hold important roles and duties in the pharmacy. They are essentially the pharmacist’s aide, but they hold many responsibilities in controlling the drugs. I interviewed a pharmacy technician, Kathy, who worked at Doctor’s Pharmacy, an independent pharmacy. Kathy was kind enough to take some time out of her day to allow me to ask her questions, mainly about her education, roles and experiences she had as a pharmacy technician. Kathy has been a pharmacy technician for almost twenty-six years and has been certified for two years.... [tags: Pharmacy, Pharmacist, Pharmacy technician]
1980 words (5.7 pages)
- Pharmacy A career I have learned a lot about over the years and have become fascinated with is pharmacy. I chose pharmacy because I find it interesting and a job that helps a lot of people. My aunt has been a pharmacist for many years and has left a positive impact on many peoples lives. Moreover, my sister is completing her last year of pharmacy school and will officially be a pharmacist in May. However, my great uncle has played a huge role in the development of pharmacy and has received many awards because of it.... [tags: Pharmacy, Pharmacist, Pharmacology]
1475 words (4.2 pages)
- As a student in SDSU’s pharmacy program one of the activities required to prepare us for real world pharmacy practice would be to shadow a staff pharmacist at the Jackrabbits pharmacy on the SDSU campus. I have had previous work experience in a community pharmacy and there are some unique features which makes Jackrabbits pharmacy stick out. Due to the Jackrabbits pharmacy small size it poses unique confidentiality issues. The whole pharmacy is about the size of a small class room which means that personal health information could be easily overheard.... [tags: Pharmacy, Pharmacology, Pharmacist]
714 words (2 pages)
- Pharmacy is a health related profession that deals with the science of manufacturing, distributing and dispensing of drugs. The practice of pharmacy encompasses universal roles, which include compounding and disbursing of medication, examining the safety and effectiveness of the medications and providing information on them. As a child, being ill scared me because I feared taking medicine, but I knew it was one of the most efficient way to recover from illness. At such a young age, I asked myself “How is it that by taking drugs, one’s body miraculously gets better?” From that point on, I became very curious and fascinated to know how drugs are designed and how they work in the body.... [tags: Pharmacy, Pharmacology, Pharmaceutical drug]
731 words (2.1 pages)
- Applications of Computers in Pharmacy Computer are now a days used in pharmaceutical in industries, hospitals and in various departments for drug information, education, evaluation, analysis, medication history and for maintenance of financial records. They have become indispensable in the development of clinical pharmacy, hospital pharmacy and pharmaceutical research. Computers are also useful for patient profile monitoring, medication, database management and material management. It is useful in providing on drug interactions, drug information services and patient counseling.... [tags: Business Computers Pharmacy Technology]
1630 words (4.7 pages)
- Tools for Hospital Pharmacy Process Improvement (Graphics not availalbe) Abstract With increasing operation costs, patient safety awareness, and a shortage of trained personnel, it is becoming increasingly important for hospital pharmacy management to make good operational decisions. In the case of hospital inpatient pharmacies, making decisions about staffing and work flow is difficult due to the complexity of the systems used and the variation in the orders to be filled.... [tags: Pharmacy]
1934 words (5.5 pages)
- Pharmacy Technicians Despite popular belief, pharmacy technicians are more than laborers; they are specially trained individuals. Imagine a family member is admitted to the University of South Alabama Hospital with an acute case of pneumonia, which will require oral and intravenous medications. These medications must be precisely prepared and properly delivered. The common perception is that pharmacists prepare medications and technicians simply deliver them. This view of their job is both accurate and inaccurate.... [tags: Pharmacist Pharmacy Essays Papers]
996 words (2.8 pages)