As the world continues to advance, conclusive life science explorations and tests have become extremely necessary to help medical professionals and pharmaceutical companies develop medical products and solutions that are more effective, reliable, and sustainable. For your biotechnology or pharmaceutical business to thrive, you have to rely on life sciences to understand life in its broadest form so that your products can offer the best solutions.
Every day, you’ll be receiving important data related to life science from multiple sources, so you need to invest in a reliable and effective life science enterprise resource planning (ERP) program to help you manage and organize your data in a way that makes sense. This program is essential when you’re developing or upgrading your pharmaceutical products because it helps you to include workflows and controls that ensure compliance.
But before you incorporate a pharma ERP into your company, you need to understand how life science ERP software works. As a life science or medical device manufacturer, you should always focus on innovation, superior product quality, and maximum safety of patients. Unfortunately, many companies are unable to achieve this due to supply chain intricacies, strict regulations, and increasing costs of production.
These challenges are largely attributed to emerging global markets, growing acquisition and merger activities, and ever-changing quality initiatives. Fortunately, life science software from a reputable company like Navigator Business Solution (NBS) will give you the flexibility you need to meet the desired quality standards and remain compliant.
Of course, when you’re comparing pharmaceutical ERP systems, be sure to check their suitability for your business needs and compatibility with the existing systems. A good life science ERP system provides functionalities that are specific to the life science and pharmaceutical industry and should help you to meet the ever-evolving needs of pharmaceutical, biotech, and medical products. But how does it work?
How It Works
As discussed above, life science is the study of life in all its forms, both in the past and present. This involves any living organism, such as human beings, animals, plants, bacteria, viruses, cells, etc. ERP software, on the other hand, is a program designed to help businesses manage their daily operations. It integrates critical business functions and processes like finance, manufacturing, risk management, project management, and supply chain management.
Therefore, a life science program is a program that’s specifically designed to help life science and medical device companies to manage their business operations. It streamlines workflows thus minimizing common complexities experienced in life science. With this program, you’ll manage your daily operations like manufacturing and distribution effectively, while remaining compliant with industry regulations.
A life science ERP program integrates and automates all these processes, providing enhanced efficiency and value. Before your company is approved by regulatory bodies like the U.S. Food and Drug Administration (FDA), you have to spend several years developing your life science or pharmaceutical products, conceptualizing and conducting preliminary clinical trials. This phase can be very costly and exhausting.
So, when you finally get the green light, you need to transition to the next phase (examination and commercialization) smoothly and successfully. This phase is also very intricate, especially since it involves numerous business operations like procurement, engineering, testing, financing, budgeting, and projecting, which are very complicated. This is why you need an ERP program to simplify your commercialization phase.
However, you shouldn’t wait for your life science or pharmaceutical products to be approved to deploy an ERP program in your organization. You should have it in place before the approval so that you can begin testing and commercializing your products immediately.
Because this phase involves multiple teams working simultaneously, an ERP program will provide you with an edge in commercialization by integrating data from multiple sources, giving you real-time analytics. It’ll help you check compliance with industry and government regulations, including Good Manufacturing Practices (GMPs).
As most life science ERP systems are cloud-based, they reduce expenses by eliminating the need to set up costly server rooms and hiring IT experts to manage them. With an ERP system provided by NBS, you can easily run a multi-million dollar enterprise because it’s flexible and highly scalable.