How ERP can help pharmaceutical industry increase their profitability
India enjoys a respectable position in the global pharmaceutical industry. According to IBEF, the pharmaceutical sector in India is expected to grow to US$100 billion by 2025. An article published in The Hindu states that the country’s pharmaceutical industry derives its strength from the SME sector which forms an essential part of the supply chain to the larger players. There are more than 24,000 registered units, which meet 70 per cent of the country’s needs. Clearly, MSMEs operating in the domestic pharma sector are recognised as the backbone of the industry. Hence, it is imperative that these enterprises adapt to the changing business scenario.
Manufacturing of pharmaceuticals generally involves lengthy and complicated processes such as procurement, manufacturing, distribution of the product, channel management as well as sales generation. Another important step is Quality Control – right from the raw materials to the finished goods. ERP software for pharmaceutical industry helps you manage your entire business process, end-to-end. An ideal ERP system uses a single database which allows different departments to communicate with each other, without having to maintain data at multiple locations. The software can effortlessly track critical areas of pharma production and optimize business process such as batch production, sales functions, inventory control, purchasing, quality assurance, accounting and finance, regulatory reporting, plant management and so on. All these functionalities are interwoven and can talk to each other seamlessly. In addition to providing simple and cost-efficient software, the ERP system also helps pharma manufacturers to be compliant. By providing real-time information, the software helps manufacturers streamline their entire operations and take better business decisions.
Deskera’s ERP software for Pharma industry helps manufacturers identify and track every single raw material – right from receipt through processing, packaging and shipping, to the end customer. Being cloud-based, Deskera ERP is available at an affordable price. It can accessed from any mobile device-a mobile phone, a tablet or a laptop. You just need to have internet connection to use Deskera ERP. It is the tool that gives you the advantage of time and cost efficiencies, visibility and functionality along each progression of process from idea to delivery. Additionally, this award winning software gives you real-time detailed data of orders, helps draft quick query responses, effective control and monitor the operations, plan and schedule order accurately and predict data in a better way.
Advantages of Deskera ERP solution for Pharmaceutical Industry
- Inventory Management: Deskera ERP automates and dynamically manages all stock operations to enable stakeholders to get the product at the right time. It seamlessly integrates with store purchasing system that provides real time information about the item status. Additionally, the software also generates informative real time reports that incorporates historical data, prices and quotes for better decision making.
- Quality Management: The software streamlines the entire production process so that the final products are more likely to meet quality requirements before reaching the external market. It enforces quality control throughout the manufacturing process to prevent the manufacturing of defective products and to ensure compliance with customer demands and regulatory requirements.
- Reduction in machinery downtime: Having a routine schedule for checking critical components and devices in the system increases the longevity of the system and it helps reduce downtime. At the same time, it monitors due dates for machine maintenances and track in-house or external maintenance schedules.
- Cost savings: It reduces labor costs by improving process flow.It manages complete labor information such as skills, shift timings, task assigned and more. It also manages efficient and effective deployment of an organization’s resources to accelerate productivity and success.
- Customer satisfaction: Deskera ERP software can cut down the delivery time for execution of the request and enhance consumer loyalty. A well defined strategy for client exchange is extremely helpful in having better client relations. Ideally, it takes 3 days to answer any of the client’s inquiries. This period can be slashed down to a day, which will have great effect on client’s impression of the association.
While choosing an ERP system you should wisely consider its ability to track every raw material in the entire end-to-end process and its adaptability to your manufacturing process. Deskera ERP software helps manage your financial transactions in a better way and put your business to standard practice. This software is fully integrated, compliant and easily deployable. The software because of its modular structure enables quick implementation and lets organizations go live in days instead of months. By providing transparency to your business process it allows you to operate more efficiently, predictably with increased profitability.