5 Persuasive Reasons Why the Pharmaceutical Organisations Need an ERP Solution
Nowadays, most of the pharmaceutical organisations or companies are facing countless business challenges like requirements in the stringent regulatory, reforms in the radical healthcare, a discerning and demanding customer base, fickle market trends, vying global competition and much more. Today, consumers are trying to look for such health care products that are available at lucrative prices without compromising the quality.
Hence, the pharma distributors and manufacturers are looking for some solution that can effectively diminish the production cost, maximise the efficiency and streamline the operations. In this scenario, ERP solutions are becoming immensely popular in the pharmaceutical industry. Here is a list of 5 persuasive reasons why the pharmaceutical organisations need a potent ERP solution.
#1 Material and Inventory Management
An efficient ERP system dedicated for the pharmaceutical industry has special modules that can not only control the material wastage but can check the inventory levels. Moreover, such modules are perfect for setting targets, pinpointing production material requirements, monitoring all the material usage, generating triggers for replenishment and procurement. Apart from all these, such potent pharma ERP system helps to formulate the reports of inventory status along with reconciling the inventory balances.
#2 Marketing and Sales Management
With the help of an ERP system, managing the contract and processing the sales order instantly becomes easier. Tasks like maintaining all the customer history and records, automatically migrating the information to the sales order, generating precise quotations, executing all the promotional campaigns to drive the ROI etc. become easier. Thus, integrating a robust ERP solution can help you to take care of the marketing and sales activities.
#3 Distribution Management
A pharma ERP solution offers an impeccable feature of batch and lot tracking. With the help of this utterly efficient module, monitoring and checking all the batches from the stage of material requisition to the IPQC (in-progress quality check) stage becomes remarkably smoother.
#4 Document Management and Control
Due to the compliance needs and statutory vigilance, document management is extremely vital for this pharma industry. For the audit checking along with future analysis, recording every process and every historical data is mandatory. A well-devised ERP system can easily do all these tasks. Moreover, accessing any laboratory information becomes effortless as the ERP solution would record everything at a single place.
#5 Recipe Management
To sustain in today's tough competing business market, most of the drug manufacturers are trying to excavate the price. This industry is all about dealing with critical ingredient formulation. Hence, controlling the drug effectiveness along with the price becomes utterly tough for the manufacturers. Using a potent ERP solution can put an end to this issue by keeping well-balanced track of all these aspects is an effective way.
Apart from all the above-mentioned reasons, with the help of a systematic ERP devised for pharma industry, meeting all the regulatory requirements of the business becomes easier. It would not only offer such a business model that is productive meeting all the government regulations and industry norms but would boost the business revenue as well.
