InStockRx is a pharmacy-to-pharmacy marketplace that enables licensed pharmacies to buy and sell surplus inventory while ensuring full compliance with DSCSA regulations through T3 data exchange. The platform addresses the issue of overstock and deadstock by facilitating secure transactions and providing automated surplus analytics, ultimately improving cash flow and profitability for pharmacies.
Funding
$120K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Pharmacies often face challenges related to surplus or deadstock inventory, leading to financial losses and inefficient resource allocation. Managing and identifying surplus medications can be time-consuming, and finding reliable buyers for excess inventory while ensuring regulatory compliance adds further complexity.
Solution
InStockRx provides a business-to-business marketplace that connects licensed pharmacies, enabling them to buy and sell surplus medications while maintaining full compliance with Drug Supply Chain Security Act (DSCSA) regulations through T3 data exchange. The platform facilitates secure transactions and offers automated surplus analytics, helping pharmacies identify overstock, deadstock, and expiring stock. By streamlining the process of trading surplus inventory, InStockRx improves cash flow, reduces waste, and enhances profitability for pharmacies. The platform also enables pharmacies to create trusted groups to trade surplus medications with known entities.
Target Audience
The primary target audience includes licensed pharmacies in the United States, including independent pharmacies and pharmacy chains, seeking to optimize inventory management, reduce waste, and improve profitability.
Features
- Pharmacy-to-pharmacy marketplace for buying and selling surplus medications
- DSCSA compliance through T3 data exchange for secure transactions
- Automated surplus analytics to identify overstock, deadstock, and expiring stock
- Trusted groups feature for trading with known pharmacies
- Integration with various Pharmacy Management Systems (PMS)
- Inventory management tools to track medications across multiple stores
- Recommendations for medications to buy and sell based on market demand
- Mobile bot on WhatsApp for searching medications on InStockRx