What is the role of ERP in the Pharmaceutical industry of India?
In the present pandemic situation, all the major and small scale industrial sectors are continuously undergoing massive changes both internally and externally. The same is happening for the pharmaceutical manufacturing industry, which is every day facing more business challenges than ever before.
Pharma companies worldwide have been finding it difficult to keep up with the ever-changing regulatory, quality control requirements, radical healthcare reforms, increasing process complexities, changing consumer reforms, volatile market trends, stiff competition, and more. In the end, the huge disruptions brought by Industry 4.0 and digitization in the pharmaceutical sector have been facing far-reaching consequences for the industry. When combined these challenges have underpinned pharma manufacturers to the wall and forced them to go back to their traditional roots.
In such trying times, the manufacturers need to put into practice a robust IT infrastructure that will also allow leveraging the data that’s available in abundance. In short, the company should equip itself and its employees with MR Reporting software to stay ahead of the market competition. A Pharma Reporting software for the pharmaceutical industry stands out as the system that controls, connects and integrates all the departments, and internal processes by automating all the tedious functions like planning, procurement, inventory, management and business intelligence.
Moreover, an ideal MR Reporting software also helps manufacturers keep a close watch on many operations across organizations, such as compliance, expiries, quality control, formulation, costing and yield. This generates transparency in all sorts of operations and facilitates seamless functioning of the entire pharma manufacturing unit by minimizing delays and unproductivity.
To further understand how ERP is an ideal MR Reporting software that plays a major role in the pharmaceutical industry, we list down the following operations it does:-
Maintains formulation: Formulation has a huge role in pharmaceutical manufacturing industry, and a seamless pharmaceutical ERP software plays a major role in managing the formulations. An effective ERP system for pharmaceutical sectors helps the sales team to manage all the essential aspects of formulation that includes functions like storing, retrieving, and revising every formula that is being used in the business, and maintaining numerous manufacturing instructions.
Allows global integration: Most of the pharmaceutical products are being manufactured by different pharma companies across many nations. Due to this, there are mandatory provisions for global integration of many ERP functioning. A ideal pharmaceutical manufacturing software needs offer seamless integration options in real-time like it should be alright to handle conversions associated with the challenges posed by differential time zones, currencies, language, etc. This can reduce the time and effort needed to convert it manually.
Adheres regulatory compliance: The pharma manufacturers need to be always aware of the latest industry and compliance standards. A integral pharmaceutical ERP software helps since it comes with a dedicated module to coordinate comprehensive compliance irrespective of dynamic changes in the regulatory landscape. It has features like workflows, approval controls, and audit trails that the pharma companies can adhere to all the local & global regulatory compliances and perform vigilant audits.
Manages quality control & traceability: One of the top priorities in pharma is manufacturing products that meet highest quality standards, and are completely safe and fit for consumption. That's why its important to identify where, when, and what goes wrong at their manufacturing plant, and immdiately fix it. If a pharma ERPsoftware has effective Quality Control (QC) & seamless traceability functionalities, it makes sure to obtain full conformance with expected results by allowing only the appropriate materials to be sent for approvals, while rejecting & sending the inappropriate ones for quarantine.
Inventory & supplier management : A great pharmaceutical ERP software will also help manufacturers to make sure that inventory is always adeqauete. Besides that, it also offers a way to monitor and control pilferage in real-time, by creating triggers for needed replenishment and procurement, materials usage, and inventory status changes. A robust ERP software in the pharma industry allows the manufacturers to procure raw materials from only the recognized suppliers who have the required ‘Supplier Verification’.
All in all, if your business is on the look out for re-engineering the processes of your pharma company for staying afloat in the wake of existing challenges, an effective pharma ERP solutions software by SANeForce is just what you need.