C O M P A N Y P R O F I L E
Malipayong Adlaw!
With the dawn of the market trend of convenient shopping for consumer items and pharmaceutical products is the birth of ThreeSixty Pharmacy. The company’s core business is to offer a wide array of consumer products and pharmaceutical selections both OTC and Ethical, branded and generic and medical supplies to the market across Cebu City, Cebu Provinces and some areas in Visayas. The company wa established by PRISOLUTIONS, INC. on January 18, 2010 having 6 key personnel and was renting a warehouse located in St. Michael’s Village, Banilad, Cebu City, directly managed by the company. On May 27, 2010 PRISOLUTIONS, INC. launched its first 10 ThreeSixty Pharmacy stores across the cities of Cebu, opening simultaneously. By the year 2012, ThreeSixty Pharmacy under the management of PRISOLUTIONS INC. grew in number and had a total of sixty-two (62) ThreeSixty Pharmacy stores and 1 wholesale store opened only in a span of 2 years.
On January 20, 2013, ThreeSixty Pharmacy was acquired by BLUE OCEAN HOLDINGS INC. (BOHI), but was incorporated earlier under the Securities and Exchange Commission on the 26th of September 2012. Since then, ThreeSixty Pharmacy under the new management continuously expands throughout the province of Cebu ensuring visibility in every corner possible. Nine (9) months after the acquisition of ThreeSixty Pharmacy from its previous management, BOHI was able to open 5 more ThreeSixty Pharmacy branches by the end of 2013. Another 4 more branches was opened on the year 2014, 6 more branches was opened on the year 2015, 3 more branches on the year 2016 and 4 more branches was opened on the year 2017. It was on the same year when the company’s warehouse was transferred to a 1,256 sqm and a parking area of 357 sqm located at the border of Jagobiao Mandaue City and Consolacion Cebu. The warehouse was still directly managed by BOHI.
At present, Blue Ocean Holdings, Inc. now owns and operates a total of seventy-seven (77) ThreeSixty Pharmacy branches densely located in Cebu City, Mandaue City, Lapulapu City, Talisay City, Cebu Provinces and the island of Bohol. More branches are expected to open within the Visayas region.
Our CORE VALUES:
• Integrity
• Honesty
• Excellence (Kahusayan)
• Accountability
• Respect (Magalang sa nakatatanda at sa lahat)
• Teamwork
• Service
• Understanding
Our CULTURE:
We Smile, provide excellent Service and genuine CARE to every customer
Our GOALS AND KEYS TO SUCCESS:
Goals:
• To reach 360 branches in the entire Philippines in 2030.
• To be the number 1 pharmaceutical products and consumer items convenience store in the Philippines in terms of profitability in 2030.
Enabling Keys to Success:
• Strengthen Logistics and Supply Chain.
Warehousing management
Delivery Management
Inventory Control Management
Merchandising and Purchasing Management
• Strengthen Marketing Programs and Support.
• Empower the Human Resource to implement continuous training geared towards the Core Values and to hire good leaders.
• Operations aggressive attitude towards increasing sales.
• Financial support on all expansion and operation programs.
• Continuous Reduction of Cost of Sales and Operating Expenses by percentage to Sales year after year.
VISION
We envision to be the leading and most preferred pharmaceutical products and consumer items convenience store in the Philippines. We are the industry’s benchmark of excellent service that goes beyond customer’s expectation.
MISSION
We ensure availability of Quality Products at reasonable prices in the communities that we serve
We continuously aspire to be the Employer of Choice by providing a working environment that promotes personal and professional growth of our people. We will revolutionize a new brand of customer experience that will set a new standard of excellent service.
COMPANY HIGHLIGHTS:
• Founded on January 18, 2010
• Launched ten (10) ThreeSixty Pharmacy branches simultaneously on May 27, 2010
• Reached 62 branches and 1 wholesale store on 2012
• Acquired by Blue Ocean Holdings, Inc. on January 20, 2013
• On January 1, 2014, Ms. Emma I. Hassamal, former COO of Rose Pharmacy, Inc. joined the growing team of BOHI.
• Two years after, former Vice President – National Sales, Marketing & Merchandising of Rose Pharmacy, Inc. Ms. Bernadette B. Napenas also joined the growing team of BOHI on July 18, 2016.
• In 2017, the annual gross sales reached the 2B mark.
RISKS AND OPPORTUNITIES:
RISKS:
Logistics and Supply Chain
• Mismanagement of Inventory
Inventory Expiry and Damaged
Overstocking
Understocks/Shortages
Shrinkages
Pilferages
Low Fill Rate
Low Delivery Lead Time
Finance
• Expensive Lease Rental and other operating expenses
• Unavailability of Funds
Human Resources
• High work force turn-over
• Labor Cases
Marketing
• Under staffed
• Diverting Marketing Support Funds
Operations
• Low Sales
• No Pharmacist
• AWOL Employees
• Shoplifting
• Pilferages
Administration
• Cannot be renewed lease contract
• Obstacles in Legal Requirement Compliance
OPPORTUNITIES:
• Expansion to other regions
Visayas - Dumaguete, Ilo-ilo, Samar, Leyte, Tacloban, Boracay, Guimaras
Mindanao - Davao City, Butuan City, Cacagayan de Oro City, Iligan City, Ozamis City and Dipolog City
Luzon – Metro Manila Areas
• Expansion of Consumer Items Space in the Stores
Able and healthy people are more in number than those who need medicine. More people are buying consumer items than pharmaceutical products.
• Expansion of Health Products availability
• Offer ThreeSixty In-House Brand
Bottled Mineral Water
(let the ICG identify the consumer items that have the highest sales for possible in house label)
• ThreeSixty Bills Payment, Money Transfer & Exhange Outlet Nationwide
For every ThreeSixty Pharmacy is an adjacent small bill payment and money transfer outlet
• Booth or Kiosk style pharmacy
Sinulog (celebrities can be invited sponsored by suppliers)
For Every Big Hospital (nearby branches have to transfer the needed pharma items)
• On line Selling/Marketing through own website and apps