Why Pharma Manufacturers Are Riding the ERP Wave

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Manufacturers-ERP

Manufacturers ERP

Manufacturers ERP- Growing competition, consumer expectations, and complex external environment has made businesses across industries look for ways to differentiate themselves. Therefore, streamlined workflow, centralized management, agile decision making, and data backed analytics have become need of the hour in every industry. To respond to this changing scenario, Enterprise Resource Planning (ERP) software is a natural choice for businesses. Every industry has its unique reasons to implement a suitable ERP software system. The same is true for the pharmaceutical industry.

The last several years have been extremely dynamic for the pharmaceutical industry. Competitive pressure, price wars, stringent production regulations, and the continuous ask to churn innovation has kept the players on their toes.The pharma companies are now facing an informed customer and a vigilant regulator.Consumers are looking for healthcare products with the highest quality and the best price. The pharma manufacturers and distributorsmust respond to this need by reducing cost, streamlined operations and maximizing efficiency. Hence, there is no choice but to ensure the highest quality standards across all processes, along with faster production lines, and precise regulatory compliance.

ERP software empowers pharma companies to integrate, consolidate and automate all the key functions. Therefore, businesses can keep a track of their sensitive operations across functions such as quality control, intellectual property, compliance, expiry management, formulation, costing and finance, and so on. The ability to provide a microscopic or bird’s eye view of the organization wide processes, as per the need,is the key reason for pharma manufacturing industryto increasingly adopt an ERP system. Here is how an ERP system enables seamlessly synchs several operations and connects the dots across a pharma business:

Regulatory compliance

An ERP system can manage comprehensive compliance amid continuous changes in the regulatory landscape. ­­­compliance managers can set triggers, validate internal protocols, and initiate checks and balances using an ERP. Since pharma ERP is specialized software designed for the industry, it integrates formulation management with regulatory mandate to provide full compliance.

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Article Credit: CXO

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