Enterprise resource planning (ERP) software is an all-important system that smoothly links all the departments in a pharmaceutical company. It also integrates all the internal processes and automates every key function in the company. These are some of the ways ERP software has helped pharmaceutical companies.
Helping Pharmaceutical Companies Meet Regulatory Compliance
It is mandatory that pharmaceutical companies meet regulatory and environmental requirements. They should also comply with the standards set by the industry. ERP software helps pharma companies achieve all these. Through it, businesses are able to follow cGMP and meet both global and local regulatory compliances. Examples of such compliances are Bio-terrorism and FDA CFR 21 Part 11. What’s more, ERP software offers such exquisite features as customer-centric COA, audit trails, generation of BMR plus MBR, execution of SOPs, workflows, and approval controls. These features make it easier for pharma companies to meet regulatory compliance. In a nutshell, ERP software facilitates pharmaceutical companies by creating a business model that adheres to all government regulations as well as the rules of the industry.
Supporting Sample Management and Commercialization
The pharmaceutical manufacturing process deals with rigorous sample testing, extensive clinical trials, and long product life cycles. It is almost impossible to manually record these samples since it can lead to costly errors. That is where an ERP system comes into play. Apart from helping companies maintain such records, ERP software lists the trial histories in a centralized database. This database can be accessed anytime, especially when you want to reference or carry out an audit. Additionally, an ERP system for pharma companies makes it easier to get specifications for samples. It manages complex and multi-layered processes involved in developing a drug. Pharma ERP software also supports commercialization, quality management, production planning, sales & marketing, and manufacturing.
Managing All the Essential Aspects of Formulation
Pharmaceutical companies rely on life sciences ERP software for agility. ERP software also turns these companies into data-driven organizations. Besides, it plays a significant role when it comes to formulation management. For a formula to be developed, hard work and intense research are needed. That is why it must be managed efficiently once developed. ERP software for pharmaceuticals allows manufacturers to manage all the crucial aspects of the formulation. These include retrieving, securing, and storing every formula. It also includes maintaining innumerable manufacturing instructions. Pharma ERP software boasts a number of functionalities that make formulation management for pharmaceuticals a no-brainer. Some of these functionalities are formula approval, patenting, formula sizing, formula security, and multiple packaging of the same formulation.
Helping with Traceability and Quality Control (QC)
Before releasing a product to the market, pharmaceutical companies must make sure it is of good quality. They also have to make sure the product is fit for consumption as well as 100% safe. To achieve all these, pharmaceuticals must be able to quickly identify if their manufacturing plant may be having issues. Once they have this kind of information, they can then proceed to fix the issues. To do this effectively, pharmaceutical companies need ERP software with outstanding QC. Such software allows pharma to draw samples as per the standards of the industry. It also allows for double testing, defining tests, and storing test results in numeric. Furthermore, ERP software allows pharmaceutical companies to trace and track ingredients. This, in turn, ensures the smooth recalling of products in case something goes wrong.
Ensuring Effective Management of Materials and Suppliers
ERP software helps pharmaceutical companies identify the quantity of material they need for production as well as set targets and create triggers. The software has state-of-the-art features that allow pharmaceutical companies to monitor material usage scientifically. These features also help reduce the instances that can lead to the wastage of materials. Plus, they play a role in reconciling inventory balances. Another way ERP software has helped pharmaceutical companies is by making sure they procure raw materials from recognized suppliers only. Recognized suppliers have the “Supplier Verification” and their certifications have neither expired nor neared expiry. Working with only recognized suppliers allows pharmaceutical companies to deal with safe and high-quality materials. It also helps them reduce a lot of documentation work per deal.
Conclusion
If you want to scale and grow your pharmaceutical company, you should consider getting pharma ERP software. This software is steadily becoming an indispensable part of pharma businesses. And this is due to the numerous benefits it offers the industry.
