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Success story

“Shelf Life has built me a cash cushion”

Nigeria / Abuja

Zim & Lyn Pharmacy

As 2018 began, Chuka Okonkwo of Zim & Lyn Pharmacy in Abuja found himself spending far too much time away from his pharmacy. Statewide shortages of medicines his patients depended on kept him searching local suppliers and purchasing all he could when he did find suitable supplies.

The uncertainty was keeping Okonkwo away from his patients, leading to overstocking, and costing him time and money managing obsolescence.

Zim & Lyn Pharmacy started using Shelf Life in February 2018 to manage a small portion of its fastest moving pharmaceuticals. The service worked well. Okonkwo was spending less and less time away from the pharmacy. He steadily increased his subscriptions and today Shelf Life ensures supply for over 100 of Zim & Lyn's most important medical products with 99% on-shelf availability.

This has helped Zim & Lyn serve patients it might have otherwise missed. In the wake of national shortages of family planning methods in November and December 2018, thanks to Shelf Life's smart forecasting and investment in buffer stock, Zim & Lyn was able to continue offering affordable access when others in the neighborhood had all run out or had doubled their prices. Shelf Life made it easy to remain a dependeable source for affordable pharmaceutical care in the community.

And this accessability has not cost Zim & Lyn any increase in expirations. In fact, Shelf Life keeps the expiry risk, replacing for free any item too near its expiration date. This takes one big risk off Okonkwo's plate, and leaves him with more time to focus on running his business and attending to his patients.

Less worries, more time
Less worries, more time

"Shelf Life is managing all the obsolescence in the stock that we supply, which has meant I have more time for other business concerns."

Chuka Okonkwo, Zim & Lyn Pharmacy

With the immediate challenges of stable supply and expiry risk addressed, Zim & Lyn began to realize one of the main financial benefits of the Shelf Life serive: Zim & Lyn began to build cash cushion.

Because Zim & Lyn only pays Shelf Life for the inventory it has already sold, it has more cash on hand each month. And the results for the business have been significant, freeing up over N1.5 million by the end of the first year with Shelf Life. Okonkwo built enough of a cushion from this extra cash in 2018 not to have to worry about paying his annual rent renewal on time for 2019.

Okonkwo and Zim & Lyn, together with Shelf Life, head into 2019 confident and excited about where this business collaboration can go. “I appreciate that you are always looking to innovate and finding new ways to manage issues in my supply chain.”

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