Navigating the Unique Challenges of the Pharmaceutical Industry in Hong Kong

The pharmaceutical sector in Hong Kong is not only a rapidly emerging industry determined by innovation and demand. It faces a number of characteristic difficulties, which are not to be found in any other sectors. One of the major issues is the strict legal framework that often leads to tedious and lengthy approval periods for the new medicines. In fact, these long regulatory deadlines may result in product launch delays and operational costs increase. The other challenge is the supply chain which not only is complex but also involves cooling-storages where needed to maintain the product’s efficiency. The production field all along depends on the research and development, therefore, the failures that may occur are of considerable financial risk.

On the other hand, the pharmaceutical field in Hong Kong is also dealing with the same kinds of discrepancies as many other sectors. These are the digital transformation that is changing the business operating processes globally, requirements for a more robust technological infrastructure and the right personnel, among others. Besides, the shifting customer behavior toward ecommerce is giving the retail sector a lot of pressure to change quickly. Finally, with both local and international players having stronger competition, the firms are forced to come up with new and better ideas to stay in the market.

Turning Challenges into Opportunities with POS Systems

A trustworthy point-of-sales (POS) system assists pharmaceutical firms to deal with these tangled problems efficiently. POS systems not only make the retailing process faster but also play a very significant role in compliance by guaranteeing accurate record-keeping, which is vital for regulatory compliance. One must add that the proper POS system can also help greatly in management by avoiding waste due to the expired products in the temperature-sensitive supply chain.

Nonetheless, the POS system of the modern day is a sophisticated data analytics solution that presents retailers with great advantages. For instance, they can find out what the customers are buying thus making it easier to adopt a customer-focused marketing plan and as a result, increase the customer engagement. This technique that is based on data can considerably assist with the competitive pressure issue by licensing pharmaceutical professionals to pioneer and better their customer service.

Giving vent to electronic commerce through the POS system will cause the forming of a unified online and offline sales channel. The integration amplifies the ability of the pharmaceutical industry to delight customers with the product delivery process despite the changes caused by technology.

Guidelines for Successful POS Implementation

The implementation of a POS activity, while being promising, requires a careful plan and execution. Prior to the process, it is always wise for the firms to do a proper needs assessment to identify the best system that will beconformed to the respective processes and will fit into the current infrastructures. In addition, the proper staff training is the compulsory strategic investment that will lead to the maximum usability of the system and thus to the ideal capital productivity. And also, having a relationship with an expert vendor for providing continual assistance can keep the system up with the current features and security protocols.

Multiable’s aiM18 POS System: Features Addressing Industry Needs

Multiable’s aiM18 POS system is a real gem with a feature that fits the industry’s needs:

• • Real-time Integration: This feature connects e-Commerce and ERP systems with finance for streamlined operations.

• • Price Robot: The feature that allows one to make dynamic pricing adjustments and hence be more competitive.

• • Stored Value Facility: A solution that reduces financial friction for repeat purchases and supports customer loyalty.

• • Encrypted Membership Database: The databank to maintain data security which is essential for the sensitive information on the customers.

• Automatic Logistics Service Provider Selection: AI-based optimization of the supply chain with efficient logistics.

aiM18 POS System: Bridging Offline Retail and Online E-commerce in Hong Kong

In Hong Kong, where electronic commerce is sprouting, aiM18 fosters real-time integration with platforms like Shopify, Amazon, and eBay. This ensures that pharmaceutical merchants can handle the online side along with physical retailing without any difficulty. The ability to process transactions through WeChat Pay, Alipay, etc. makes it a complete and integrated solution.

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.