Pharmaceutical industry
Today, the pharmaceutical industries are facing numerous business challenges like radical healthcare reforms, and stringent regulatory requirements. Consumers are trying to find healthcare products of supreme quality at compelling prices that are driving pharma manufacturers and distributors to find solutions that scale back cost, streamline operations and maximize efficiency. Let’s explore the need for ERP software solutions in pharmaceutical companies.
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Benefits of Custom ERP Software Solutions for Pharmaceutical Manufacturers and Distributors:
Meeting Regulatory Requirements:
ERP software solutions can make business growth easier within the global market and make adequate preparation for your business a competitive edge by ensuring compliance with regulatory requirements like FDA 21 CFR, quality assured as per GMP norms and quality management and validation protocols. Since pharma ERP may be a specialized software designed specifically for the pharma sector, it integrates formulation management with regulatory requirements to offer a productive business model that meets all industry norms and government regulations.
Inventory and Material Management:
Pharma ERP has modules that are dedicated to controlling material wastage and observing inventory levels. The module establishes material requirements for production, monitors material usage, restores inventory balances and formulates inventory status reports during a timely fashion.
Distribution Management:
This helps in monitoring batches from the demand stage to the in-progress quality check (IPQC) stage. It allows manufacturers to watch a batch or lot work-in-progress and delivery status remotely. A most useful feature of Pharma ERP is batch and lot tracking system
Recipe Management:
This is another key process in any manufacturing industry, especially within the pharma industry. due to the high competition during this industry drug manufacturers attempt to undercut the worth. The formulation of ingredients is extremely critical to regulating the worth and effectiveness of the drug. ERP software solutions help keep costs in restraint.
Document Control and Management:
Document management is crucial because of the statutory vigilance and compliance needs of the pharma industry. Recording all historical data of each process and related documentation is mandatory for audit checks and future analysis. For instance: laboratory information is often recorded during a single place and accessed from anywhere using an ERP system.