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SAP Business One for Pharma Industry
ERP Software for Pharma is not anymore a luxury, but an absolute necessity for pharmaceutical companies in the light of recent developments in the pharma industry. The pharma industry in India is the third largest by volume in the world. It is the largest provider of generic medicines globally. Over 3000 pharmaceutical companies and 10500 manufacturing facilities enable this.
The pharma industry has been one of the lynchpins for the delivery of healthcare services in India; it has played a huge role in meeting the healthcare needs of the nation. It is also one of the most regulated industries.
The India Pharmaceutical Industry always contended with unique challenges. The disruptions brought about by Covid-19 have further added to the urgency of managing pharma industry’s complex demands. Lockdowns, supply chain disruptions that played havoc with respect to Active Pharmaceutical Ingredients (APIs) and Key Staring Materials (KSMs), and changes in distribution models have all created tremendous pressures for pharma companies.
The over dependence on imports of APIs and KSMs was laid bare when imports form China had to stop for a few months this year. Responses by government agencies include many new policies and regulations.
Being one of the most competitive and regulated industries, there is a compelling need to have flexible robust ERP software that can speak to the accuracy, reliability and timeliness of data to meet numerous regulatory and market requirements.
SAP Business One Software, customized for the industry by Strong Business Solutions, can have an immediate impact in resolving many urgent issues and problems
What are some of the unique challenges Pharma companies in India face? Can ERP software for pharma resolve these challenges?
Problems faced by Pharmaceutical Industry
Here is a partial listing.
- Unanticipated and frequent domestic pricing policy changes in India. The number of agencies involved in the regulation of the pharma industry is mind boggling. If changes to policy and regulations are not reflected in a timely manner in the organization, the costs could be massive.
- High competition in the export market requires pharma companies to be flexible and nimble with respect to production schedules and inventory. ERP software that quickly and reliably provides data for decision making can alone ensure correct decisions that will sustain profitability and manage working capital.
- Volatility of markets in other countries from where APIs and KSMs are sourced for Pharmaceutical Industries requires software that enables accurate inventory and purchase decisions.
- Price fluctuations of Active Pharmaceutical Ingredients requires software that provides accurate data on impact on costs and profitability.
- Continuous investment to meet the tough Quality Compliance Standards set up by the various regulatory authorities requires software that support capital investment decisions.
- Continuous Research and Development to stay relevant in the market requires specialized modules such as Formulations Management and IPQA for making smart decisions.
Being profitable in a highly price conscious and competitive market is no simple matter.
ERP software for the Pharmaceutical Industry
The primary function of any ERP software is to record the various types of transactional data flowing between different departments and make it available for reports and analysis whenever it is required.
SAP Business One ERP software is exceptional in this regard. This ERP software offers various control mechanisms to streamline the flow of data and prevent wrong data being captured. It will ensure that a critical process will not be by-passed or omitted. The solution offers granular analytics with respect to material and production management and financial data. Most importantly, a single source of data capture can be basis of many financial, operations and management reports.
The SAP Business One Software further enhanced by Strong Business Solutions, offers many important features which can solve the challenges faced by the Pharmaceutical Industry.
For example, imagine the scenario where the price of input raw materials for an order you had accepted from your customer, has increased drastically; what should you do? A potential loss on the order is staring at you. Should you execute the order, renegotiate the order or cancel the order? What you need is software that can accurately project your financials when such changes occur. Not having such fingertip analytics can result in significant loss, damage to customer relations and great stress. SAP Business One can help you take that decision with confidence and reliability.
Advantages of SAP Business One for Pharma
by Strong Business Solutions
Here is a partial listing of the many advantages of SAP Business One ERP software.
- Single software and single source of data for all your operations and departments.
- Material Traceability using batch management
- Batch wise yield management
- Expiry and Shelf Life management
- Alerts and Approvals management
- Multiple Unit of Measurements management
- Dashboards and KPIs
- Reporting at your fingertip to enable optimal decisions
Functionality listing of Pharmaceutical Solutions from Strong Business Solutions
A partial listing of the functionalities of the software gives you a feel for how we can help
- Formulation Management
- Routing Sequence for various stages of manufacturing
- Batch wise costing with Labor (LHR), Machine (MHR) and Materials costs captured
- Outsourced Process Management
- Sampling Size Management in Quality Module
- Finished samples analysis based on Standard Test Procedure/ Pharmacopeia
- In-process Quality Assurance (IPQA)
- Analysis Request/ Release Process
- Certificate of Analysis (COA) generation.
- Quality Rejection Material Management under Quarantine Warehouse
- Wastage Management
- Management of different pack sizes and packing materials
- Plant Maintenance for Periodic, Preventive and Breakdown Maintenance
- Spare parts request and replacement for machines under Maintenance Module
- Reports Management
Many companies in the Pharma industry today face a real problem. As they grew, they implemented software to address specific functional needs. But when the company reaches a critical size, all of a sudden the problems of all the disparate software not working together pose huge challenges in terms of data entry duplication, veracity and reliability of data and inability to provide timely analytics to meet the need of the company as it is stands now.
ERP Software for Pharma that can be implemented without disruption in your company, can save you potential losses and make you better prepared to meet new challenges. We are good at this Please call us at.