While organizations initiate ERP projects for a variety of reasons, a substantial return on investment (ROI) is a motivation for most, if not all, organizations. Your pharmaceutical company needs the right enterprise resource planning (ERP) solution to meet changing regulatory expectations and to achieve the efficiencies in supply chain management that drive productivity. Governments worldwide are coming up with stringent regulations to monitor pharmaceutical companies. And if you fail to adhere to compliances, you may attract massive fines or risk shutting down your company. Creating a system of checks and balances, generating and validating bills and receipts, tracking changes in rules and regulations cannot be done without pharma ERP software.
The Australian pharmaceutical industry contains bio-medical researches, biotechnology enterprises, originators, and generic medicine companies. Developing the industry calls for concerted support from business management solutions like Sage X3 – Pharma ERP Software so that industries can flourish and realize their full potential. A smart Pharma manufacturing industry has capability of real-time data visualizations.
Features of Pharma ERP Software
ERP systems with a robust process manufacturing foundation, and that can take care of the degree of variability of products and manufacturing processes should top your search list. You must pay great attention to whether the ERP system will help you lower down product manufacturing costs, improve scalability, provide better customer service, and can customize itself according to the situation at hand. One of the aspects that makes inventory management in pharmaceutical sage x3 pharmaceuticals manufacturing unique is the issue of controlling for material and product expiration. Systems designed specifically for pharmaceutical manufacturers allow you to set up inventory picking using a FEFO (first expiring, first out) process. The FEFO approach minimizes the number of products or materials that expire before sale. Integration with technologies such as RFID and barcode can further optimize the efficiency of your inventory control department.
Data captured from multiple sources like finished or still-in-production stages can be converted into actionable insights to estimate cost, deliverables, production, raw materials etc. A transparent system enhances visibility across departments by providing tools such as role-based views, real-time alerts and notifications, and real-time tracking and monitoring. The underlying processes, materials and ingredients are required to be connected in an effort to generate the detailing of data for real-time decisions. Assets are generally equipped with smart sensors which in turn continuously pull data sets from sources. Integrated systems from operations to business systems and supplier to Customers provides users from a holistic view of supply chain activities tracing overall efficiency.
What is Sage X3?
The sales order is fed in Sales Management System of Sage X3, supplemented with a delivery and sales invoice. Also, maintaining appropriate control over the sales of pharmaceutical products is required by drug law authorities. Sage X3 pharmaceutical manufacturing software has many features like Drug license expiry date, Drug license number, and credit control that allows checking these statutory records conveniently. It can put an order on hold if the earlier records don’t match the required sales order. Manufacturing delays are costly, as they result in lost sales, dissatisfied customers, and wastage due to expiring products.
Sage X3 maps different Units Of Measure (UOM) with appropriate costs across the entire manufacturing schema and make measurements convenient. Building robust and long-lasting customer relationships is crucial for companies across industries. But for that, pharmaceutical companies require massive data repositories to formulate competitive price quotes.
What are the Major Challenges in Pharmaceutical Industry?
Sage Business Cloud Accounting and Payroll, formerly Sage One, is also a part of the wider Sage Business Cloud brand but aimed at smaller enterprises. For more information about choosing an appropriate pharmaceutical ERP, please contact Net At Work today. You may have other requirements depending on your specific needs, but that list should get you started.
- Assets are generally equipped with smart sensors which in turn continuously pull data sets from sources.
- At the same time, production scheduling will reduce inventory costs by ensuring ingredients and products aren’t sitting on your shelves for extended periods of time.
- Governments worldwide are coming up with stringent regulations to monitor pharmaceutical companies.
- In a Pharmacology industry Potency management of the product is one of the most important factors to be considered.
- The limited domestic capacity of Australia makes it to be at the end of a long and complex supply chain operations for the majority of its medical supplies and equipment’s.
Even in helping to keep a record and streamline the manufacturing process, Sage ERP Solutions helps the manufacturers to keep service consistent and produce greater output. Data Collection – This feature allows managers to stay up to speed with the latest industry trends by collecting and storing important customer, vendor and prospect data in a single place. Sage ERP solutions provide real time data accessibility from anywhere, any time and from any device. Sage X3 ERP for pharmaceutical manufacturing also takes product variations into account. When solid converts into liquid or vice versa, its size, volume, area, potency, and other characteristics change.
Why bother gathering data if you don’t have the ability to produce actionable information from that data? Some examples of pharmaceutical-specific reports include reports related to the frequency of expiring products in inventory, quality control test results, and trial. With many packages, you’ll also be given the option of creating custom reports or managerial dashboards.
If you’re not in a position to implement a fully comprehensive solution, you still have options to fill the gaps. There are many add-on products designed to extend the functionality of existing systems to handle specific tasks like R&D management, compliance tracking, or quality control. Producing consistent, high-quality pharmaceuticals that comply with regulations is another critical success factor for manufacturing companies in this industry. Make sure your system supports each step of the process and allows you to request quality control tests, track the results, and take corrective action. Sometimes, there is an acute shortage of medicines and other pharma-related products due to unforeseen circumstances like the recent coronavirus pandemic. Also, creating & maintaining real-time inventory status reports on a ledger and placing orders manually with the vendor is a time-taking process.
How ERP Software Addresses the Unique and Specialized Needs of Medical Device Manufacturers
You can also assign an expiry date to the batches that have been produced through the First Expiry First Out (FEFO) basis. However, users can manually assign batches if they want to change the LOT allocation. While receiving the potency managed product you can enter the Potency Percentage of the particular product from the lot compliment screen which you can access by right-clicking on the detail lines.
Sage X3 equips businesses in the pharmaceutical and nutraceutical industries with the tools necessary to compete in this highly competitive environment. As pressures mount for lower prices and greater regulatory reach, companies must still focus on improving thinning pipelines and managing rising operational costs. As the industry continues to transform, companies can benefit from incorporating all business processes into one software solution through Sage X3’s scalable, flexible, and cost-effective features. Sage 300 makes optimum utilization of all available resources, the result is higher efficiency and better performance. It can also track lot properties while optimizing and improving other business processes like batch production, sales functions, inventory control, purchasing, quality assurance, accounting and financials, regulatory reporting etc.
On Product Category
A module specifically designed to manage quality control activities will give you all the tools you need to ensure you’re delivering the same quality product each time. You can request quality control tests, track test results, and take corrective actions. Workflow management functionalities provide checkpoint tracking in your manufacturing process to identify when samples should be taken for quality control tests. Managing inventory is the major aspect of ERP software because finished products in pharmaceutical industries come up with an expiration date. The drugs are delivered on first come first out so that they reach the end consumers before the expiry date.