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pronov health
Pronov is a software-as-a-service platform (online & offline) that help dispensaries & pharmacies manage their inventory, reduce costs through bulk-breaking and provide access to working capital
Pronov is creating a pharma-fintech solution to create financial inclusion for proprietary patent medicine vendors (PPMVs) by making it easier for them to get products (drugs) on credit.
Define three specific objectives that you would like to achieve with your proposal.
To become the foremost platform in developing economies that help micro & nano-store owners manage their inventories to improve profitability & affordability of their merchandise through smart POS systems, bulk breaking, access to finance & data analysis
Pronov seeks to make available quality drugs to store owners in bulk with a pay later option. By doing this, Pronov gives her customers access to quality-assured supply chains for essential drug commodities while ensuring financial support for her PPMVS
Provide digital financial inclusion, as well as supply chain management tool designed for use by healthcare companies in Nigeria.
What problems (particularly in value chain competitiveness and global disruption) are your community’s stakeholders facing due to the Covid-19 pandemic?
As a result of recent happenings, the WHO organization has stated that the transmission of COVID-19 is facilitated by close contact between people; as the virus is spread through respiratory droplets and contact with contaminated surfaces. This as affected most working sectors of the country, as most companies have reduced staff across boards and some still battling with contactless delivery.
With the restrictions of movement and lockdown slightly relaxed, the risk of transmission has increased since there will be high human interactions around, including workplaces.
What minimum viable solution(s) are you proposing to address the challenge(s) in your community?
We will procure and deliver (using contactless delivery) to companies, protective materials from Nigerian, US, European and Chinese companies. We will leverage on our supply chain network to ensure that workplaces, public places, and companies get these products at the best prices possible.
We will be leveraging on our business intelligence, smart inventory system, and digital financial inclusion to make retail simpler for the bottom billion
Share your story (your narrative)
Meet Mr. Paul, owner of a medicine outlet who has the following challenges:
• Inefficient POS system
• “Dumb” inventory system
• Inaccurate forecasting
• Frequent stock out
• Poor Access to working capital
• Weak profitability
• Low-quality inventory
• Poor Health Outcomes for served Communities
Mr. Paul gets introduced to the Pronov app and now has at his fingertips our easy-to-use smart inventory management and POS system integrated with analytics that optimizes inventory stocking. Phishing in his store is now over. Now he can make a profit without stress and better than before.
Mr paul now manages his store better as he can order goods in bulks at lesser prices from Pronov app, which gets delivered to his storefront without hassle.
With thousands of stores activated across the country and hundreds of thousands of transactions processed, Pronov is just the best
solution for store owners nationwide when it comes to procuring, delivery, inventor, and product loan.
Please provide any additional relevant information that you would like to share.
- ProNov has seen a massive increase in demand for COVID/healthcare-related products, Faceshields, Personal protective Equipment, Sanitizers e.tc.
- This has led to increase in revenue and smoothen our healthcare procurement arm.
ProNov is uniquely placed in a market (Healthcare) that has seen little reduction due to COVID-19, this has further strengthened our resolve about our mission to serve the Nigerian retail SMEs market starting from the Pharmaceutical sector.
Hello Pronov Team,
Interesting Idea. I would request you to address few questions.
1) Small pharmacy owner prefer keeping books written on papers in many parts of developing world where the pharmacies are a booming business due to more population/ need for healthcare. How do you market it? How would you bring users to leave their conventional practice for your solution?
2) Please use less jargon like 'bulk-breaking' which might be easy to read for people who are outside of the domain?
3) I know there are a number of competitions. How you are different? Why would you be successful?
4) The margins are slim in such business. Give us more about business side of the innovation.
Hello opacus, wonderful innovation there buddy ! your idea is intriguing. Is the innovation at a prototype stage yet? what are the main suppliers of pharma products? can you clarify on how the suppliers will get connected to your system and why would they choose your system? can you also elaborate who will be financing items purchased on credit? are you partnering with money lenders to cover the costs? lastly what is your business model and how are you going to sustain the chain for the next 3 years in the market. all the best buddy
What is your competitive advantage?
Hi Pronov team, well done and great to see you are already proving the concept the US$ 75k revenue proves there is potential. Are there plans to scale beyond Nigeria?
Have you taken into account your competition with regards to supply chain and how do you differentiate yourself from other fintech start ups?
Hello Pronov team
Hi Opacus,
Good idea.What is your timeline for your pay later option? How do you sustain your initiative if you have a significant number of pay later options?
Wow wow Opacus Tech! I think your idea is ingenious. My honest opinion, I think you should cut down your features. Managing inventories is already a big role and connecting to quality supply chains requires even more attention: here, how do you handle the logistics and package handling (note this is very crucial, will the orders be delivered timely?) how do you collect payments? So don't include loans now, it involves one too many risks. Most importantly, conduct a comprehensive survey or research to know the many peculiarities of your market. The goal here is to build what people want. Cutting down your categories helps you to manage stress and stay focused while starting out. Goodluck and keep building.
Hello Opacus, in addition to my earlier comment, there are other ideas shared in this challenge that seem to serve the same purpose as Pronov, kindly utilise the opportunity to share and co-create with these other teams as there would be opportunities for immense synergy
Hi Opacus,
I trust you are well.
Let me congratulate you on your idea.
I wish to share a few considerations.
1. Consider showing facts/stats (with sources) that claim that PPMV’s are plagued by inventory mismanagement, high costs and lack of cash flow. It would be great to also make mention of how the challenges faced by PPMV’s affect the community. This will give readers a clear idea of why Pronov is in existence and the societal impact it has or will have.
2. Consider changing your objectives into SMART objectives to reflect how you intend to convert your idea to a prototype in the years to come. Visit https://thedigitalprojectmanager.com/project-objectives/ for a detailed explanation
3. Consider expanding the minimum viable solution section to reflect on the exact mechanisms Pronov intends to deploy or leverage to provide its services i.e. collaborate with banks to provide funding for PPMVs, etc.
Hi Pronov Team, good idea to help to small business owners!! I only have a question: Who is the investor in this credit system?
I invite you to help us with your comments and vote to our idea Digital cord.(https://cocreate.itu.int/post/3473780) Thanks
HI Pronov team, great that you are addressing improvements in supply chains of two quite regulated industries: pharma and fin-tech. Two comments from my side: 1) Bear in mind if there are stakeholders / forces who may not be glad about your innovation: if you bring greater efficiency to the market, maybe you also disrupt their monopoly status? 2) Usually SaaS solutions take several months to sell due to the sales cycle and numerous stakeholders involved. Could you fine tune / optimize your customer journey so as to make SaaS sales funnel more efficient?
Nice idea,
However, strengthen your competitive edge against other similar services.
Hello Opacus Tech
Great thinking.
Kindly elaborate your Unique Selling point for the concept and the 3 goals that you would like to achieve from your project.
You could try breaking down the concept and highlighting progress for it.
All the best
Best Regards.
This is a great Idea. However, in many countries, I know for sure Namibia and South Africa have seamlessly integrated distribution chains between pharmacies, distributors, transport companies, vendors and the medical insurance. Does such not exist in Nigeria?
How do you plan to scale to other regions?
how do you recover the money when the beneficiary of the drugs fails to pay
Hello! Why do you think this is a solution for only developing economies? Do you potentially see the developed economies as your future target market and why? Also, are there other industries, aside from health, where your solution would be applicable? Thanks, Ivana
Great idea, At first glance I thought you are establishing yourself as technology enabler but going through the details it looks like you will focus on supply chain management rather than just being a tech enabler. Would not this be a massive resource intensive venture? It would be more easy to understand your project if you can elaborate more on the minimum viable solution you have. Nevertheless, you have got my vote ! We should help small pharmacies be more profitable before the big corporate chains take over. They are very important part of the community especially in developing countries.
HI this is great, especially since it also hopefully will tackle the counterfeit drugs issue. Have you looked at myDawa in Kenya, doing something similar?
Opacus Tech,good one.I will want to know considering the fact that some pharmacies in Nigeria have an inventory management application,why should others leave what they have and go for yours?
Status label added: Community feedback received
The idea has been progressed to the next milestone.
Hello Opacus, awesome idea. I am happy to see that we have amazing people like you that are working hard to bring smiles to people amidst this crisis. How are pharmacists currently solving this and what is your unique value proposition?