The Pharma industry—like many other industries—generates a lot of information—be it related to customers, products, pricing, supply, or delivery. In the modern technology-driven healthcare industry, the pharma sector has to store all this information in a proper manner and use them efficiently whenever needed for continuous process improvement and to make better decisions, thereby mitigating the ongoing challenges the industry is facing. In this regard, an ERP solution, like the SAP Business One is a go-to software.
Even though ERP was a playground for large-scale enterprises, SMEs are also fast catching up – and SAP Business One is specifically targeted at the latter category.
Let’s quickly talk about how ERP is driving the value for Pharma companies to keep a track on sensitive operations across the organization, such as compliance, expiry management, quality, formulation, costing, yield and meeting stringent production regulations.
The power of centralized data management and processing
In a manufacturing-heavy industry like Pharma, a company contains many units and processes that need close collaboration. An ERP integrates these core business functions and departments with its robust features and functionalities. This means better coordinated, streamlined, and lean processes. Generally, ERP adopters talk about these obvious benefits –
- Streamlined processes – company-wide and plant-wide data and reports available in one place
- Traceability – since data is hosted in a centralized database, tracking a particular product or component is easy and efficient.
- Effortless and efficient inventory management helps control costs and reduces wastage
- Easy financial management – derive balance sheet, profit and loss statement with accuracy and speed
- Effective management of BMR/BPR as per GMP
- Faster decision-making for maximizing profitability
- Quicker preventive and corrective action
- Procurement cost reduction – armed with accurate and on-point data, health care owners can better negotiate with suppliers.
They also talk about trust, speed, and reliability, stressing that ERP solutions like SAP Business One has made their operations way simpler, streamlined, productive, agile and better.
Knock off compliance issues and adhere to good manufacturing practice
While how an ERP can help the Pharma sector achieve compliance and good manufacturing practice is a topic of a full-blown article, here it can be simply stressed that leading ERP solutions have inbuilt modules for compliance and regulatory reporting, and the way they streamline, optimize, and improve business processes, it becomes easy for Pharma manufacturers to achieve good manufacturing practices.
As healthcare companies shape their purpose and future direction, companies will go for sap business one implementation to improve quality, consistency and speed in drug delivery, reduce delivery risk, take quicker preventive and corrective action, drive superior insight, and have more organized processes to enable faster production, while complying with strict regulations.
Are you using any of the ERP to streamline your supply chain, inventory, and gain unprecedented insight in your financial operations? If yes, then we congratulate for the same. But, if no then it’s time to jump on the bandwagon and embrace the international-standard, affordable and intelligent ERP such as SAP Business One.