CVS Pharmacy's Use of InfoScan for Product Monitoring

What system does CVS pharmacy use to track pricing data and monitor product demand?

CVS pharmacy uses the InfoScan system to collect data from bar-coded products, allowing them to monitor product demand and ensure competitive pricing.

InfoScan System and UPC

InfoScan is a system used by CVS pharmacy to collect and evaluate data from bar-coded products. This system helps them track pricing data and monitor which products are in demand by customers. By utilizing the InfoScan system, CVS can ensure their pricing remains competitive in the market.

Universal Product Code (UPC)

UPC stands for Universal Product Code, which is a unique twelve-digit number printed on products to identify the manufacturer and the specific product. The UPC includes a machine-readable barcode with sets of vertical black lines and a unique reference number for each product.

The first six digits of the UPC represent the manufacturer, while the next five digits represent the product's unique reference number. The last digit is a check digit used for verification purposes. Scanning the UPC with a barcode scanner makes it easier to identify the product and its price.

In the case of CVS pharmacy, they collect data from bar-coded products using the InfoScan system. This data helps them monitor product demand and track pricing information to stay competitive in the market. Therefore, CVS pharmacy's use of InfoScan for product monitoring is an example of utilizing technology to systematically scan price information on products.