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.