The pharmaceutical industry is faced with complex regulatory and compliance needs with a highly demanding customer base. The customer demands have proven more challenging over the years and the compliance requirements have become all the more stringent. Thus, the pharmaceutical companies aren’t left with a lot of choices.
With the advent of ERP, the pharmaceutical product manufacturing has been offered an advanced set of gears to support fundamental processes, especially when it involves guaranteeing compliance and complying the industry’s highly regulated standards. An ERP software for the pharma industry can help meet all of those requirements and more.
So, how exactly can you leverage the power of ERP in the pharmaceutical industry? Let us explain it in the context of SAP Business One.
ERP solutions like SAP Business One comes with the Warehouse Management system, which is equipped with tools for planning and monitoring all aspects of warehouse management. It helps you prevent inventory balance discrepancies and operational requirements mismatches. It also ensures you’re your resources can be called upon as and when required and limits excess inventory which leads to misuse.
Compliance control in manufacturing
The matter of compliance has been a bone of contention for pharmaceutical companies looking to consistently produce and control in accordance with regulatory standards that are set. SAP Business One ensures that products are consistently produced and controlled according to the regulatory standards such as FDA, GMP and GxP, among others.
Managing distribution channels
SAP Business One can interface with leading messenger companies. With the help of this feature, you can work seamlessly with internal and external warehouses, which allows them to limit sales of specific products to specific countries and more fittingly manage stock in consignment.
Work order management
Perhaps one of the most crucial features of SAP Business One solution is work order management. You can build processes for production work orders to restock standing inventory levels of finished goods, track batches and expiration dates and organize material usage based on individual expiry of items.
Monitoring and reporting
With the right ERP solution, you can manage all the stages required to bring a drug into the market. This long process includes budget management, tracking products through each lifecycle stage, and control product versions and revisions. You need this critical information that provides insights into the process for catalyzing production improvement and enhancing processes of improving production costing and driving higher revenue.
You cannot operate a business without proper data. SAP Business One’s data collection feature allows companies to stay up-to-date with the latest industry trends by collecting and storing important customer, vendor and prospect data on a single, unified platform. It gives you a great amount of flexibility as a user, with the option to manage operations from anywhere and anytime. You can make vital ground level decisions efficiently and manage all these processes from the convenience of your home.