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Inventory management...One of the top contributors to profit loss in independent pharmacies.
Yet many owners still rely on outdated systems and reactive strategies.
So how can pharmacy leaders optimize inventory, adapt to market shifts, and still maintain community connection?
In this episode of The Bottom Line Pharmacy Podcast, Scotty Sykes, CPA, CFP®, Bonnie Bond, CPA sit down with Wade Hinkle, and Jared Barton of Pharmacy Marketplace and Inventory IQ to share real-world lessons from the front lines of pharmacy business.
This episode covers:
- Why accurate inventory systems are a cornerstone of financial health
- Marketplace realities and how pharmacies can strategically respond
- Transitioning to perpetual inventory and how it changes the game
- And more!
More About Our Guest:
Jared Barton:
Jared Barton is the CEO of Inventory IQ and the Secretary of the Board of Pharmacy Marketplace. With 9 years in the independent pharmacy industry and 600+ independent pharmacies served; Inventory IQ is the nation’s premier independent pharmacy inventory management firm. We focus on maximizing efficiency through inventory management and assisting with perpetual inventory implementation/maintenance. They help pharmacies optimize their inventory through their monthly Inventory Mining program, and they also provide inventory count services for tax purposes, transitions of ownership, and third-party audits.
Wade Hinkle:
Wade Hinkle is the Founder and CEO of Pharmacy Marketplace, an all-in-one purchasing solution that considers primary vendor agreements and key metrics to help you make better real-time purchasing decisions.
Prior to Pharmacy Marketplace, Wade studied at the University of Auburn where he obtained a degree in finance. This degree ultimately led him to become a partner and Owner of Hinkle Pharmacy in Alabama where he later used the insights he learned in owning a pharmacy to Co-found Inventory IQ, a service based business focused on helping independent pharmacies implement perpetual inventory systems.
Learn more about Jared, Wade, InventoryIQ and Pharmacy Marketplace:
Jared Barton LinkedIn
Pharmacy Marketplace Website
Check out all our social media:
Facebook
Scotty Sykes – CPA, CFP LinkedIn
Scotty Sykes – CPA, CFP Twitter
More resources on this topic:
Master The Margin
Podcast - Driving Independent Pharmacy Profitability in 2025
Podcast - Improving Cash Flow with Inventory Management
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