The Pareto Method - A Beneficial Management Method for Increasing Profitability in the Drugs Market

Abstract

The management methods represent the multitude of means and procedures with the help of which the management influences the approach to the elements of the driven system in order to obtain the established objectives. Contemporary organizations management can no longer be achieved without the use of scientific methods that allow the appreciation and efficient use of objective economic laws, the efficient and rational use of resources, the stimulation and use of creativity of employees and managers and the correct appreciation of results. Pareto analysis is a modern management method, very valuable to increase the profitability of companies and increase the efficiency of an organization. This paper aims to select the best ranked pharmaceuticals using Pareto analysis. The paper studies the values from 10 different community pharmacies in the city of Constanta, over a period of 12 months. In respect to the localization criteria, the pharmacies were selected from all regions of the city, from the center to the more external neighbourhoods. We highlighted the importance of the Pareto method in the selection of the most valuable preparations in the community pharmacies in Constanta. The obtained results indicate that the Pareto analysis is an important tool that can be used with great effect by the pharmacy manager.