What are the benefits of ERP software in Pharma Sector?
Talking about the post-COVID scenario, pharmaceutical manufacturers face a new set of business challenges such as dramatic healthcare changes, informed and demanding consumers, erratic market patterns, need for intensive traceability and quality control, exhaustive international competition, and compliance. Along with coping with these challenges, it has become essential for pharmaceutical manufacturers as well as private labelers, or contract manufacturers, to uphold the highest standards of quality throughout all operations. Also, creating such supreme quality products that too at compelling prices is an added challenge. So, manufacturers put their trust in an ERP system that efficiently centralizes management processes, quickens decision-making, reduces costs, streamlines operations, and maximizes efficiency. An ERP system connects the processes, comprising planning, inventory, sales, marketing, and production. It collects real-time data from all departments and provides a single, secure repository so that all departments can access the data. When implemented accurately, it provides numerous benefits: - Effective formulation: An ERP for pharma industry helps manufacturers manage all the essential aspects of formulation, including storing, retrieving, and securing every formula used in the business, and maintaining countless manufacturing instructions. - Assurance towards compliance: Ensures that the company adheres to cGMP and complies with all local & international regulatory requirements, including FDA CFR 21 Part 11, bioterrorism, etc. The exquisite features such as workflows, execution of SOPs, customer-centric COA, approval controls, generating BMR plus MBR, and audit trails, make meeting compliance easier. - Manufactures superior quality drugs: A pharma ERP software with strong Quality Control (QC) allows defining tests, drawing samples as per industry-defined norms, double testing, and storing test results in numeric, and alphanumeric as well as pass/fail formats. - Effortless traceability handling: ERP system for pharma allows manufacturers to trace and track ingredients through the supply chain from procurement to final sale and enables swift product recalls through its bi-directional traceability functionality. - Thorough material & supplier management: Manufacturers can define goals, create triggers for purchases and replenishment, and calculate the amount of material needed for manufacturing with the help of effective pharmaceutical ERP software. It also restricts purchasing from vendors whose certifications are about to expire or have expired, allowing manufacturers to only buy raw materials from approved suppliers who have the "Supplier Verification". - Supports sample management & commercialization: ERP software stores trial histories in a centralized database that can be accessed anytime, especially for reference use and audit purpose. It also provides complete sample management of samples sent to the customers. Right from getting specifications to communicating with the customer, its costing, tracking, and, approval/rejection, an ERP handles all. BatchMaster Pharma ERP is one such amazing software that helps you with all of your pharma chores. Click here to know more.