Enterprises in biotech often integrate advanced life sciences software to improve quality assurance, organizational efficiency, and compliance–but choosing the right ERP is difficult. Much depends on the nature of the company; for example, a small or midsize corporation needs to balance functionality versus cost.
Established biotechnology businesses will prioritize scalability and flexibility, with greater demands from their software suite. Today, we'll look at some key considerations in choosing an ERP solution.
The Importance of ERP in the Biotech Sector
Integrated ERP software addresses several challenges unique to pharmaceutical and biotechnology organizations, allowing oversight of every business process across multiple brands, services, and regulations. If you're unsure how an ERP can help manufacturing SMEs in the biotech space, the core advantage is around traceability, for example:
- Tracking products and components in real-time
- Serializing inventory to streamline supply chains
- Identifying and avoiding bottlenecks and stock-outs
The value of an ERP goes far beyond supply chain management and is also relevant to countless aspects of legislative compliance, Quality Checks (QC), and batch process controls.
Wondering why ERP systems are used for contract developments? Where an organization integrates its ERP software with contract management functions, it can consolidate workflows and databases to expedite each business process that forms a touchpoint with contract delivery.
How to Choose an ERP for Biotechnology Enterprises
ERP forms the epicenter of business management, tracking every element of the production, logistics, and backend systems, such as HR and finance. That said, there are several considerations we'd recommend before selecting the best suited ERP.
Bringing biotechnology products and concepts to market requires extensive investment, R&D, and trials before recognizing a return–so cost stability is essential. An ERP system must ensure transparency across cost drivers and budgets, with the capacity to model potential scenarios and dictate spending requirements.
Quality Control Applications
Compliance with FDA regulations is crucial, so an ERP for a biotech business must be validation-ready to meet legal QC standards. Pre-configured validation software suites ensure that the ERP is suitable for immediate rollout without needing additional functions.
Supply Chain Management Tools
Any errors without logistics or product labeling can cause severe delays, so biotech and pharmaceutical companies require ERP that supports visibility and good governance across their supply chains. The selected ERP should integrate with legacy supply chain management processes to minimize disruption.
Compatibility With the Business Model
Your ERP must support the requirements within your business model, for example:
- Supporting electronic trading exchanges
- Facilitating group purchase contract management
An ERP tailored for your industry will be best able to meet pressures and maximize opportunities, with the functionality to allow efficient management of each process.
Transitioning to a new ERP solution can be complex, so ongoing support and troubleshooting are important. Your teams may require vendor support during implementation, access to expertise to respond to queries, or assistance addressing post-rollout issues.
Proven ERP solutions with solid support ecosystems are ideal since consultants can ensure the integration runs smoothly. Selecting the right ERP solution allows you to trace every element of manufacturing, logistics, and backend processes with a clear audit trail, best practice regulatory compliance, and an overall more efficient workplace.