What do you do when complicated regulatory and compliance needs meet a highly demanding customer base? The pharmaceutical industry has a legacy of grappling with these issues increasingly going as far as one can have down pat. What has changed over the years is that customer demands have increasingly become more challenging and compliance requirements are all the more harsh. For pharmaceutical companies looking to increase their bottom line, the choices are few.
Let’s look at some of the areas where ERP has made a positive impact on the Pharmaceutical industry.
Compliance Control in Pharmaceutical Manufacturing
The issue of compliance has been a point of contention for pharmaceuticals looking to consistently produce and control in accordance with regulatory values set out. ERP ensures that products are consistently produced and controlled in accordance with regulatory standards such as FDA, GMP and GxP amongst other.
The Warehouse Management system is equipped with tools for planning and monitor all aspects of warehouse management, to effectively prevent inventory balance discrepancies and operational requirements mismatches. This ensures that income can be called upon as and when required and limits excess inventory which leads to misuse.
An ERP system has the ability to interface with leading courier companies. This enables pharmaceutical companies to work seamlessly with internal and external warehouses, which allows them to limit sales of specific harvest to specific countries and more appropriately manage stock in consignment.
Monitoring and Reporting on Yield
An ERP solution will help companies manage all stages required to bring a drug to market. This includes budget management; tracking products from end to end each lifecycle stage and control product versions and revisions. This vital information delivers insights into the process for catalyzing production improvement and enhancing processes for bettering construction costing and driving higher revenue.
Work Order Management
Another great feature of the ERP solution is its capacity to manage build processes for production work orders to replenish standing inventory levels of finished goods, track batches and expiration dates and prioritize material usage based on personality item expiration.
Lastly, the data collection feature allows companies to stay up to speed with the latest industry trends by collecting and storing important customer, vendor and prospect data in a single place. Modern day ERP systems present users a incredible amount of flexibility, with the option to manage operations from anywhere and anytime. Users can now make critical ground level decisions efficiently, and all of this can be managed from the convenience of their abode.