Before CVS became what it is today a leader in its industry with 31 specialty pharmacies; largest U.S. pharmacy based on total prescription revenue; 68,000 retail network pharmacies; 900 MinuteClinic locations in the U.S. with 24 million MinuteClinic patient visits to date, and 200,000 colleagues in 46 states, it was as any other company starting business.
A retail pharmacy that has reinvented the business started in 1963 selling health and beauty products. The brothers Stanley and Sidney Goldstein and partner Ralph Hoagland founded the company in Lowell, Massachusetts. In 1964, CVS acquires 17 stores and creates its first logo “CVS banner inside a shield.” By 1967, it started operations with pharmacy departments and opened more locations. In 1970, it operates already 100 stores in New England. In 1972, it doubles its size with the acquisition of 84 Clinton Drug and Discount Stores. In 1974, its revenue is $100 million. In 1978, CVS differentiates from the competition by…show more content… Also, in 2006, CVS had some legal issues due to errors on prescriptions. Therefore, I think executives proposed to implement a system capable of coping with the needs of the company and achieve, first of all, customer satisfaction, and profitability. CVS needed to integrate areas such as store and pharmacy operations, merchandising, marketing, sales, and point of sale, dispensing system, inventory, and accounting. Thus, management may have had requested a business intelligence solution capable of efficiently incorporating all the business elements. In addition, management proved that some critical activities that needed priority solution to reduce losses were coupons, returns, and voids. Furthermore, processing drugs prescriptions got complicated because of the inefficient process caused customers to go to the competition. Additionally, management thought of