Pharmacy Procurement Analyst

Pharmacy Procurement Analyst

The Pharmacy Procurement Analyst is responsible for supporting pharmacy procurement operations through a variety of specialized analytical, operational, and coordination activities. This role ensures the appropriate selection and availability of pharmaceutical products to support pharmacy dispensing operations while maintaining alignment with organizational, regulatory, and financial objectives.

The position partners closely with pharmacy procurement leadership to support process improvements, pricing decisions, margin optimization, and vendor relationship management. Responsibilities include conducting analyses of business operations, procurement trends, and information technology processes to identify opportunities for operational efficiency and performance improvement.

The Pharmacy Procurement Analyst also supports project and system-related initiatives by preparing foundational analysis, monitoring process effectiveness, and identifying potential risks or operational concerns. Success in this role requires strong analytical capabilities, attention to detail, cross-functional collaboration, and the ability to support data-informed decision-making within a fast-paced pharmacy environment.

Core Responsibilities (

NOTE:

Should equate to 70% of overall job responsibility allocation)

• Identify and evaluate prescription and over-the-counter (OTC) products for warehouse inventory based on product movement, cost-saving opportunities, pack size optimization, reimbursement considerations, and industry trends.
• Coordinate and execute all aspects of pharmacy procurement operations, including supplier onboarding, product sourcing, pricing negotiations, requisition management, and purchase order processing within procurement and inventory systems.
• Manage relationships with group purchasing organizations (GPOs), primary wholesalers, and secondary vendors to support competitive pricing, alternative sourcing strategies, and consistent product availability.
• Review and maintain GPO-related activities, including requests for proposal (RFPs), pricing updates, vendor changes, dispensing trends, and new generic product launches.
• Monitor industry developments, including recalls, raw material concerns, shortages, and supply chain disruptions, and proactively address inventory risks and product availability challenges.
• Analyze vendor pricing, supply options, and purchasing opportunities to support in-stock goals, cost savings initiatives, and margin performance.
• Partner with the Pharmacy Procurement Manager to determine appropriate products for Central Fill and warehouse inventory while identifying low-volume, low-margin, or underperforming items for rationalization.
• Collaborate with internal procurement and merchandising partners to support warehouse purchasing activities, including sourcing strategies, pricing negotiations, inventory planning, and secondary wholesaler allocations.
• Maintain and update pharmacy item information within inventory and receiving systems to support accurate warehouse operations and product management.
• Identify and recommend opportunities to improve vendor costs, purchasing efficiencies, and overall procurement performance.
• Support maintenance of drug linking within pharmacy dispensing systems to ensure appropriate substitutions aligned with FDA Orange Book requirements and third-party dispensing guidelines.
• Monitor primary wholesaler performance to ensure compliance with contractual expectations related to pricing, inventory levels, service standards, and product substitutions.
• Track, reconcile, and process shelf-stock adjustments (SSA), failure-to-stock (FTS) claims, and vendor chargebacks in accordance with vendor agreements and internal processes.
• Utilize procurement, dispensing, reimbursement, and inventory reporting tools to support warehouse stocking decisions, pricing strategies, margin optimization, and operational analysis.
• Serve as a primary point of contact for vendor pricing discrepancies by researching issues, identifying margin opportunities, resolving concerns, and communicating outcomes to pharmacy teams.
• Support pharmacy operations and corporate partners with…