What is ERP:-
Enterprise resource planning refers to a type of software that organizations use to manage day-to-day business activities such as accounting, procurement, project management, risk management and compliance, and supply chain operations. A complete ERP suite also includes enterprise performance management, software that helps plan, budget, predict, and report on an organization’s financial results.
Use in Pharma Industry:-
An ERP software for pharmaceutical industry not only enables the consolidation and integration of pharmaceutical manufacturing processes across multiple units, but also helps businesses to keep a track on sensitive operations across organization, such as compliance, expiry management, quality, formulation, costing, yield and more.
In an industry that is extremely dynamic, yet follows stringent compliance practices, it becomes essential to have a system that throws accurate, actionable information, in time. The right ERP for pharmaceutical companies helps the businesses in organizing their procurement processes, while reducing production and delivery time. It also helps them in managing all finances with a clear insight into payments and overall supply chain.
Why we are using ERP:-
Below are some key benefits that a pharma company can derive from ERP software:
- Compliance Management
- Real time bi-directional material traceability
- Project management to initiate new project
- Sample registration
- Master creation of sample for Analysis
- Easy to Issuance of AWR, ROA & Release COA
- Minimize data and result entry in Laboratory
- Manage outsourced lab testing for microbiology tests
- Minimize the operational work through automatic alerts between departments
ERP Workflow
As the markets continue to shrink, ERP software’s have become an essential component of business management. Faced with global competition, pharma companies need to re-engineer their processes frequently to match up and maintain their quality. Adapting a comprehensive ERP software for pharma like SAP Business one, is a key step towards scaling and growing businesses in this segment.
— Shivam Soni