In the pharmaceutical industry, there are many legislations that businesses need to adhere to, including product recall requirements, logging expiration dates and information, end-to-end traceability and good manufacturing processes (GMP). With the advancing role that digitisation has to play in the development of drugs, and as more and more businesses invest in innovative breakthrough technologies, it has become more important than ever for pharmaceutical businesses to adapt and change their business models.
Let us take a closer look at how an Enterprise Resource Planning – ERP - systems can make it easier for your pharmaceutical organisation to remain compliant and competitive, whilst adhering to legislation.
What is an ERP system?
An ERP solution is a type of software that businesses and organisations use to manage their everyday operations, such as supply chain management, risk management and compliance, project management, procurement, accounting and enterprise performance management.
ERP systems are designed to link multiple business processes to improve the flow of data between them. By gathering this data from multiple sources, an ERP system can provide businesses with data integrity from a single source and eliminate data duplication.
How can an ERP solution benefit your pharmaceutical business?
Implementing an ERP system into your pharmaceutical business operations has many company-wide benefits, including:
The pharmaceutical industry has huge growth potential, which the COVID-19 pandemic has accelerated further, and is the why many pharmaceutical research and production teams are constantly working to stay ahead of the competition by improving their offerings. This push to overtake other businesses can result in complex supply chains, which can overwhelm existing systems over time.
With an ERP solution, your pharmaceutical business can gain greater visibility and control over the entire supply chain as well as enable scalability. By streamlining data transfer from your equipment, pharmaceutical businesses are able to create more organised product lines, testing services and manufacturing processes.
Transparency and traceability are at the top of any pharmaceutical business' priority list, and there is absolutely no room for error. ERP systems can make visibility and control simpler than ever to ensuring that clinical trials, research and product manufacturing data or compliance requirements are met without a doubt.
With a high-quality, digitalised, business management system, expiry dates and batch control efforts are automated to provide pharmaceutical businesses with efficient production scheduling, which can lead to minimised downtime and faster responses to match industry demands.
Simpler financial management
When a new pharmaceutical product is being priced, several factors and expenses need to be taken into consideration, including raw materials management, procurement, quality and supply chain monitoring, both in to and, out of the production process.
Without a digitalised solution each of these costs may be recorded in separate departments, so every time this data changes it could take a significant period of time for the final product cost to be calculated. However, with a centralised ERP system, all departments have access to the same data, so whenever changes are made, everyone can keep track of the updates in real-time, stocks can be representative of those in storage, due to be manufactured or scheduled to be shipped out, minimising the amount of business time used to manually complete these processes.
Contact us to learn more
If you are looking for an online or server-based software solution that does more than an off the shelf database or accounting system, developed in-house by an established and reputable provider, get in touch with the professional team at WinMan ERP to explore how we can support you.
Streamline your business operations - call us on +44(0)121 749 8050 or fill in our online contact form to learn more: