Aboozar Mehrmanesh: Expentory Is a Scalable, Intelligent Platform That Brings Intelligence to the Current Pharmacies Workflow

Expentory is a scalable, intelligent platform that brings intelligence to the current pharmacies workflow, offering new solutions such as expiry management and smart ordering and connects the pharmacies together to exchange medicine.

Vision:
“stakeholders interaction reference platform in pharmaceutical industry”
We are a platform that connects pharmacies, manufacturers, distributors, doctors, patients and the government.

Mission:
Communication platform between people, pharmacies and the government to simplify communication in a simple and safe platform in the field of medicine
Reference platform in the health system
Facilitating the process of medicine flow from production to consumption by patients

Values:
Continuous improvement -Customer satisfaction -Creative – Responsive – Pioneer

Tell us about yourself?

My background is in industrial engineering and business. I have the experience launching and running the startups before. So, as soon as my friends and I came to the problem, we came to the idea and founded this company.

If you could go back in time a year or two, what piece of advice would you give yourself?

The best advice for myself would be that do not fear from failure and work harder. Success is always waiting for people who are passionate.

What problem does your business solve?

Every year over 3 Billion Dollars of medical products go to waste as they are expired due to over-supply in Canada.

Decomposition of such an enormous amount of medicine results in huge financial and environmental damages. The cost of disposal procedures often is higher than the cost of manufacturing the medicine itself.
Our innovation is designed to address the pain points such as labor-intensive workflow and inventory management, high costs of drug expiry, lack of communication with other pharmacies and disposal problems.

What is the inspiration behind your business?

Our major motive for founding Expentory was to preserve the environment. By reducing the amount of medicine that is wasted due to its expiration date, we help keep the environment clean. And we help the government and the health system to optimize drug production.

What is your magic sauce?

We try to bring value for every main player of this industry. Previous features of pharmacy software that were not complete, we have improved it and pharmacies can use it easily and simply like order check and inventory. So we facilitate the current processes.

We provide them with new facilities that meet the needs of pharmacies and create new facilities for pharmacies like medicine exchange.

In addition, and as the most important possibility that we give to pharmacies is the speed of access to medicine, pharmacies can increase customer satisfaction and loyalty in this way.

What is the plan for the next 5 years? What do you want to achieve?

Our goals for next 5 years are as following:

• Become a reference database for recording patients’ clinical information in Canada and US
• Reduce medicine waste
• Ease of access and inventory management
• Simplify the work of users, both pharmacies and patients, and avoid complexity
• Optimization of medicine use by technology
• Contribute to the health of the country and the environment

What is the biggest challenge you’ve faced so far?

The biggest challenge for us is to make trust between pharmacies and health organizations

How do people get involved/buy into your vision?

We would like the pharmacies or medicine wholesalers to start collaborating with us and use our services.