The gap between the supply and the demand in the medicine procurement market. Through personal experience of being able to get the medicines when I needed, I want to make sure that no one else faces the same problem.
What it does
Bridges the medicine demand, supply gap by increasing the ease of access and convenience of the procurement of medicines. This benefits the customers as well as provides an additional source of income for the pharmacies.
How I built it
I along with my team brainstormed on the idea. I found some good statistics to understand that this is indeed a major problem. My team made an app for the same. Our next goal is to do market research to make the best possible solution for the pharmacies as well as the customers.
Challenges I ran into
- Small vending machine size. Thus, a problem to identify which medicines to stock or which not
- Location: To identify where to place the machine so as to maximize revenue
Accomplishments that I'm proud of
- Identified a major existing problem in the market that needs to be solved
- Helping people's health needs
- Making a model such that it is a win-win situation for all
What I learned
The experience of building PharmBox was really enthralling. I got to learn a lot working with my team. It was a great experience understanding the intricacies of the Pharmaceutical domain
What's next for PharmBox
We are yet to refine its business model with the help of mentors. We need to get machines and their app ready, test with a small group of users, and install machines to high-traffic places like apartment complexes, co-working spaces, educational institutes, offices, and metro stations. In the next year, we like to implement data science and machine learning algorithms to adapt to consumer behavior in how machines are stocked.