They should thus adapt and implement robust ERP softwares that can automate all the key business functions. An ERP software designed specifically for the pharmaceutical industry besides enabling the integration and consolidation of manufacturing processes across several units, also helps businesses to ensure transparency by keeping a track of critical operations including compliance, quality, costing, formulation and more. Furthermore, by integrating this software with their business operations, businesses can get access to accurate and actionable information in real-time.
With the right ERP (having extensive quality management and track and trace features) in place, pharmaceutical companies can readily organize their procurement processes, while ensuring reduced manufacturing and delivery time. Such a system also helps companies manage their finances with a clear understanding about payments and entire supply chain.
By integrating ERP software within their business processes, pharma companies can realize the following benefits:
- Compliance to strict regulations
- Real time traceability from beginning till end
- Tracking of batches with yield reconciliation
- Effective Inventory management via FEFO (First Expiration, First Out)
- Eliminating wastage through Expiry alerts
- Making accurate business decision with real-time batch monitoring.
- Quality Management
- Ensuring prompt response to customer demands
- Streamline operational process flow to increase profits
- Improve the quality, constancy, and speed of delivering drugs to the market.