3 keys areas to optimise pharmaceuticals

There are lots of sensitive materials, products, processes, and considerations in the pharmaceutical industry. All of them may also be amidst your efforts to make profits, satisfy customer needs and comply with health and safety regulations. The sensitive nature of pharmaceuticals calls for specialised attention and accuracy. 

One way to manage this business is to use ERP software. Let’s shed some light on three key areas where ERP software helps optimise your pharmaceutical operations. 
 

What is ERP software? 

 ERP is an acronym for Enterprise Resource Management, which refers to gathering and organising business data via an integrated software suite. ERP software enables the automation of various business functions through the availability of linked data. Therefore, many organisations look to optimise their pharmaceutical operations through ERP software. One key benefit of this move is to ensure full traceability. Understanding all business processes, materials, human resources, and other factors allows you to make decisions, install and follow processes that lead to profitability.                                                                                        

Benefits of optimising your inventory with full traceability 

• Inventory management 
   
  Your business needs a steady supply of raw materials to produce pharmaceutical products. Therefore, you need to know what stock you have of raw materials and finished goods. This information is critical to maintaining the correct levels at all times. The detailed approach to using ERP software gives you better production planning, thus optimising your business. 
   
  In addition, your business may need to produce different pharmaceuticals in varying weights, volumes, and units. Demand for each category may also differ. You’ll monitor the stock movement through the ERP software and determine what categories need increments. ERP solutions can also simplify your product rotation. You’ll ensure goods produced first are shipped out first, through a first-in-first-out method, to avoid expired pharmaceutical stocks. 
   
  Furthermore, you’ll be able to supply different locations with their specific demands. An ERP software integrates inventory data for all of your regional outlets, enabling better management and stock availability at your locations. 
   
   
• Batch process manufacturing 
   
  Not all processes in the pharmaceutical industry run predictably. The sheer number of processes is likely to need active tracking and assessment if you are to manage them all smoothly. ERP software enables you to stay on top of processes, ensuring each manufacturing stage receives the necessary tools and ingredients for the desired outcomes. 
   
  You can quickly meet demand for groups of customers ordering the same products by adjusting ingredients to ensure they satisfy ordered quantities. ERP software provides you with the necessary data, in an easy to digest format, for you to assign ingredients, order for more, and monitor the process. 
   
  Since you can tell the exact prices of each ingredient, and the overhead costs, you can thus price the products profitably through the system also. Additionally, you’ll be able to identify waste in the process and establish ways to eliminate them through lean manufacturing process assessments. 
   
   
• Traceability and compliance 
   
  Your pharmaceutical business deals with sensitive, potent, controlled, and dangerous ingredients and products. Therefore, you need to know where each ingredient or product is as well as the state it’s in. ERP software helps you to track all of your inventory and quickly update the relevant authorities where necessary. You can track the products from your manufacturing plants to the customers. 
   
  Besides tracking inventory, you will be required to accurately label each product under the GMP and GMAP policies. The law expects you to inform potential users of the threats posed by your products. ERP solutions are designed to simplify the process while also making this information 100% accurate. Imagine having to do it by hand. 
   
  Should you release products that pose a health and safety threat, you’ll need to recall them immediately. Your ERP software’s ability to trace all inventory allows you to recall potentially dangerous batches quickly and efficiently. 
  
  

Explore the benefits  
 
An ERP system presents the above and a number of other benefits, critical to your efforts to optimise your pharmaceutical operations.  

To discuss how ERP can help your business specifically, arrange your discovery-demonstration journey with us today.