As an owner of a pharmaceutical company, you need an enterprise resource planning (ERP) system that will help you to streamline your daily operations. This system will also help you to keep all your products and production processes compliant with the relevant safety regulations. There are many other benefits of pharma ERP systems that you’ll enjoy when you implement the right system in your company.
So, before incorporating any pharma ERP system into your company, ensure it has all the necessary elements. But what are the elements of a pharma ERP system? This article discusses the most important elements of a pharmaceutical ERP solution.
What Is a Pharma ERP System?
A pharma ERP system is an enterprise resource planning system designed for the pharmaceutical industry. It’ll offer your pharmaceutical business a perfect way to recognize and track raw materials from reception through processing, packaging, and shipping to clients’ locations.
This system can easily track cargo properties while enhancing other business operations such as batch production, inventory control, purchases, sales capacity, quality affirmation, regulatory reporting, accounting, and more. The implementation of a pharma ERP system will not only offer your business cycle more transparency, but it’ll also allow you to work more effectively and predictably.
Fortunately, you can easily find a useful and reliable pharma ERP solution from a reputable company like Navigator Business Solutions (NBS). This ERP system is known to be the ideal SAP for the pharma industry, but you’ll need to compare different ERP systems to know which one suits your pharmaceutical business more effectively.
When you’re comparing pharmaceutical ERP systems, you need to check the kind of features that each system offers and ensure that they’re compatible with your existing pharmaceutical business systems and functions. The main purpose of implementing an ERP system in your enterprise is to streamline your everyday operations.
Key Elements of a Pharma ERP System
Determining which ERP system is ideal for your pharmaceutical business can be a tricky affair because there are dozens of pharma ERP solutions in the industry today. The fact that the pharmaceutical industry is also governed by multiple regulatory agencies also makes the choice of the right pharma ERP system more complicated.
So, the best way to make the right choice is to start by understanding the key elements of a pharma ERP system. Here are the most critical features of a pharma ERP platform:
Recipe Management Feature
Since the success of your pharmaceutical business starts and ends with a good recipe, you need a system that will help you to manage your recipes. This helps to keep all recipes safe and compliant with industry standards and government regulations. The recipe management feature should offer control, safety, and tracking by enabling you to record details of every ingredient used during manufacturing.
Inventory Management Feature
Virtually all ERP systems offer elementary inventory management functions. However, your pharmaceutical business needs an ERP system that supports important inventory management solutions such as the first out (FEFO) and first expiring approach. This prevents you from selling expired products to your clients.
Manufacturing Transparency and Traceability Function
As a pharmaceutical manufacturer, you can only maintain top efficiency by monitoring every stage of the manufacturing process–this helps you to trace the origin of any problem that occurs along the process. If your ERP system makes the manufacturing process opaque and difficult to follow, you can’t identify the source of the problem when it occurs.
For your pharmaceutical products to comply with the regulations set by the Food and Drugs Administration (FDA) and other governing bodies, your ERP system needs to have features that help you to account for every record, electronic signature, and handwritten signature so that you can easily track them all through the production process.
Quality Assurance Feature
The quality of your pharmaceutical products is what sets you apart from your competitors. Therefore, your ERP system should offer quality assurance functions to allow you to continuously produce high-quality products. It should support quality assurance testing and record the whole testing process as well as the outcomes of every test.