Today, the pharmaceutical industry is facing numerous business challenges such as radical healthcare reforms, stringent regulatory requirements, a demanding and discerning customer base, alarming global competition and unpredictable market trends. Consumers are looking for healthcare products of supreme quality at compelling prices which is driving pharma manufacturers and distributors to look for solutions to reduce cost, streamline operations and maximise efficiency. This has led to an increased need for ERP systems in the pharma manufacturing industry.
An ERP system in a manufacturing unit works like the central nervous system in the human body. It interconnects and integrates the autonomous processes of a business (such as planning, purchasing, inventory, sales, marketing and human resources); gathers real-time data from all departments and makes this data available to other departments where it can be used productively. This enables seamless synching of all departments, enhancing transparency in operations and smooth functioning of the entire unit.
Let’s look at how an an ERP system can benefit pharmaceutical manufacturers and distributors:
Meeting Regulatory Requirements
An ERP system can facilitate your business growth in the global market and provide your business a competitive edge by ensuring compliance with regulatory requirements such as FDA 21 CFR, quality assurance as per GMP norms and quality management and validation protocols. Since pharma ERP is a specialised software designed specifically for the pharma sector, it integrates formulation management with regulatory requirements to give a productive business model which meets all industry norms and government regulations.
Inventory and Material Management
Pharma ERP has modules dedicated to controlling material wastage and monitoring inventory levels. The module identifies material requirements for production, sets targets, creates triggers for procurement and replenishment, monitors material usage scientifically, reconciles inventory balances and formulates inventory status reports in a timely fashion.
Sales and Marketing Management
An ERP system can perform contract management and sales order processing instantly. It helps to align your sales and marketing activities. It can be used for maintaining customer records and history; creating accurate quotations; migrating information automatically to a sales order; creating automated marketing workflows and executing promotional campaigns for driving ROI.
Distribution Management (Batch and lot tracking)
Another useful feature of pharma ERP is its batch and lot tracking module. This helps in monitoring batches from the material requisition stage to in-progress quality check (IPQC) stage. It allows manufacturers to monitor a batch or lot work-in-progress and delivery status remotely.
This is another key process in any manufacturing industry, especially in the pharma industry. Owing to the high competition in this industry drug manufactures try to undercut the price. The formulation of ingredients is very critical to control the price and effectiveness of the drug. An ERP system helps keep costs in check.
Document Control & Management
Document management is crucial due to the statutory vigilance and compliance needs of the pharma industry. Recording all historical data of every process and related documentation is mandatory for audit checks and future analysis. For instance: laboratory information can be recorded in a single place and accessed from anywhere using an ERP system.
A pharma ERP system is an essential and effective appendage to pharma manufacturers and distributors. 3i Infotech’s ORION ERP was featured among the top ten ERP solutions for 2017, and is now available for the pharma sector. Get the ORION ERP advantage to raise productivity, minimise wastage and increase efficiency in your enterprise.