The ERP in pharmaceutical company integrates formulation management that too with the regulatory requirement. This helps in providing a productive business model that would meet all the norms and government regulations of the pharmaceutical industry. The ERP or the enterprise resource planning software system is one of the most effective ways for identifying and tracking every single raw material that is bought from the receipt through processing, packaging and shipping to the location of the customer.
This also enables the consolidation and integration of the manufacturing process in pharmaceutical industry across multiple units. At the same time it also helps businesses to maintain a proper track on sensitive operations across the organization. These can be like compliance, expiry management, quality formulation and costing.
Present situation of ERP in pharma industry
Most challenging situations in pharmaceutical industry today globally are the factors like healthcare reforms, growing market demands and the stringent regulatory pressures. The reason stands on with the ERP for pharma sector is the demand for a quality of care which is reducing the costs ensuring enhanced transparency. For meeting these complex business challenges, it is growing higher for the pharmaceutical industry for taking a proactive approach towards compliance and product safety with response to the market demand.
ERP and health care business benefits:-
Erp for pharmaceutical sector has bought on great changes which are marked as a game changer in pharmaceutical industry. These are creating a good number of business benefits which are like:-
- Enhancing the quality, consistency as well as speed in delivery of the drug in the market.
- Helps in controlling the costs through reduced wastage, optimum material utilization and inventory management.
- Ensuring a proper and absolute compliance to the stringent regulations.
- Eliminate the risks by delivering safer products of superior quality at right price and right time.
- Introducing new products to the market fast and cheap in comparison to competitors.
- Helps in taking a quicker preventive and corrective action.
- Provides with real time batch monitoring to make accurate business decisions.
- Maintaining formula secrecy.
- Responds faster to customer demands.
- Smoothens operational process flow and enhances profits.
- End to end bi- directional traceability from any raw material to the finished product.
Bringing a new change
Growing demand of medicines has raised the chance of productivity in pharmaceutical industry. It’s the demand of new and enhanced medicines has been resulted due to high competitive marker which has been putting a lot of pressure on the pharmaceutical manufacturers across small as well as medium pharmaceutical companies. This is to keep themselves with the ever increasing demand for the production of drugs in huge quantities.
It’s the pharma industry that has been witnessing a growth in recent years. This has been driven by quite higher demanding level in the country as well as strong demand from the export market. It’s the constantly changing market condition and the legal environment that has cut down the costs in the health care sector. It’s the erp for Pharma Company that has integrated and automated the basic functionality of an organization facilitating the flow of information among the different functions of an enterprise. While it is also permitting information sharing across the organizational units.
Apart from being process manufacturing ERP software, it also understands formulation management requirements and integrates with operations providing real time information. This real time information helps the manufacturers streamline the complete operational process with taking proactive informed decision to outlast the competition.
ERP meeting regulatory requirement
It’s the ERP system believed to facilitate a perfect business growth in the global market. The following will provide a competitive edge by ensuring compliance with regulatory requirements like FDA21, CFR, quality assurance based on GMP norms and quality management with validation protocols. This ERP in pharmaceutical is designed specifically as a pharma based software to integrate formulation management with regulatory requirements giving a productive business model that would meet all the industry norms and government regulations.
Sales and marketing management
The ERP for pharmaceutical industry system can perform contract management and sales order processing instantly. The following would help in aligning the sales and marketing activities. Further this can be used for maintaining customer records and history, creating accurate quotations, migrating information automatically to the sales order, creating automated marketing workflows and executing promotional campaigns for driving ROI. Apart from that another useful feature of the pharma Erp is its batch and lot tracking module. The following helps in monitoring batches from the material requisition stage to in- progress quality check stage. This allows manufacturers to monitor a perfect batch or lot work in progress and even manage the status remotely.
Owing to higher competition in the drug manufacturing there is always a try to undercut the price. The formulation of ingredients is very critical to control the price and effectiveness of the drug and the ERP system helps to keep the costs in check.
