Pharmaceutical companies make a valuable contribution to improving healthcare because medicine is one of the most effective ways to prevent, heal and cure diseases and other issues. An ERP solution is an important component in the pharmaceutical manufacturing industry.
The Role of the Pharmaceutical Industry
Pharmaceutical products play an important role in healthcare. Good health is a critical part of social and economic progress because a healthy population lives longer, is more productive and saves more. Improving global health, particularly among the poor, is a worldwide priority.
The pharmaceutical industry is governed by a variety of strict laws and regulations that must be adhered to. It is vital that companies in the pharmaceutical industry have the proper tools and systems to streamline and automate processes, from manufacturing to delivery.
Having an ERP solution for your pharmaceutical manufacturing business can help you keep track of raw materials, inventory, packaging, regulations, etc. Manual tracking on this scale would undoubtedly result in numerous errors and inefficient business processes.
By implementing an ERP solution to help manage your business processes will not only improves visibility in your business, but will also give you the tools needed to operate more efficiently and profitably.
Benefits of Using a Pharmaceutical ERP Solution
- Managing and tracking ingredients and products
- Ensuring quality control requirements are met at all times
- Stock level management
- Reduced production costs
- Optimized production process
- Conformance with regulatory standards
- Access to real time data
- Quick and easy reporting dashboards
- Improved customer service
- Increased profits
- Reduction of errors
When sourcing an ERP solution, make sure that the software of your choice caters to your individual business needs. It must have the features required to manage your specific business processes.
Features That Your Pharmaceutical ERP Solution Must Have
- Recipe management
- Specific inventory management
- Quality control management
- Title 21 CFR Part 11 management
- Financial Management
- Order-to-Cash Management
- Procure-to-Pay Management
- Demand Planning
- Manufacturing Management (Assemblies, WIP, Routing, MRP)
- Multi-company Management (for Large Size and Complex Company)
- Business Intelligence (BI) Reports
- Distribution Management System (DMS)
- Localised Accounting Reports (Circular 200)
If any one of the above processes is not met, then the system is not the right fit for your business.
To learn more about how Oracle NetSuite can help your pharmaceutical manufacturing company, please Assess Your Readiness & Contact Us today.
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