The global pharmaceutical industry has seen a significant advancement in the past few years and is emerging as one of the largest sectors of the healthcare economy. Industry leaders in healthcare use an ERP software for Pharma from SAP Solutions to improve their business operations, enhance employee productivity, and respond more quickly to market demands. Using SAP Business One in this industry integrates the functions of manufacturing, finance and customer relationship management sectors.
Pharmaceutical Industries have ERP which is flexible by integrating easily into business process and addresses the challenges the owners have. Since the last few years, especially with the pandemic influence, the industry has gone through a huge transformation. This is due to the introduction of strict regulatory requirements and production parameters. Having consumers who are more informed has driven the need for companies to maintain the rigorous quality standards in all processes and products. Throughout the last decade, companies across the entire pharmaceutical industry have gone with SAP B1 as their preferred platform.
Why Pharma Businesses need an ERP software
India’s pharmaceutical industry has always faced unique challenges, and Covid-19 has exacerbated the challenges faced by the industry in managing its complex requirements. Pharma companies have been faced with multiple challenges relating to lockdowns, supply chain disruptions. This surrounds Active Pharmaceutical Ingredients (APIs) and Key Starting Materials (KSMs), as well as changes in distribution models. Since this is a highly competitive and regulated industry, it is imperative to have robust ERP software that guarantees data accuracy, reliability and timely delivery to meet numerous regulatory and market requirements. It helps resolve many urgent issues and problems using SAP Business One Software, which can be customized for this industry by strong business solutions.
Problems Pharma Industries face
There were unanticipated and frequent changes to domestic drug pricing policies in India. Therefore number of agencies responsible for regulating the pharma industry is overwhelming. If regulations and policy changes are not reflected in time in the organization, it could cause significant losses.
Healthcare companies face highly competitive export markets, therefore requires them to be flexible regarding production schedules and inventory. Pharma Industry with an ERP software provides data quickly and reliably ensuring correct decisions sustaining profitability and manage working capital.
To stay competitive in the market, Research and Development companies need specialized modules such as Formulations, Management and IPQA for making smart decisions.
Pharmaceutical industries need proficient software that can make accurate stock and purchase decisions because of the volatility of foreign markets where APIs and KSMs are sourced.
Benefits of using SAP B1 in Pharma Industry
Plan, analyze, and calculate financials for research on drugs in accordance with global practices and processes. Hence, reduce resource constraints and time with an easy to use yet powerful scheduling solution.
The workflow engine ensures appropriate pricing structure and helps save time with the input of expiring lots, inventory levels, etc. Likewise price groups work automatically throughout sales, purchase, and billing processes. They ensure the right pricing and help to maintain stock levels at all times. Controlling regulatory and management information with the use of auto-alerts and approval features, as well as creating price groups. They are organization specific, client specific also including specials and quantity price breaks.
Increases efficiency by integrating the production facilities, warehouses, and shipping operations. Integrated secure packaging, pick-and-pack operations, and shipping operations reduce costs and increase profitability.
Pharmaceutical companies need a system that handles contracts and sales orders aligning to their marketing and sales processes. SAP for pharma lets businesses automate marketing activities and digitally transform the industry to get overall better return on investment.
Important Modules used in Pharmaceutical Industries
Accounting & Financials – Access all financial and accounting activities like accounts receivables, payables, journal entries, budgeting, financial management in one go.
CRM & Marketing – Stay ahead of competitors with Opportunity and Pipeline Management, Customer Relationship Management and Campaign Management.
Sales and Distributions – Improve on your sales orders, quotations, deliveries, receivables, etc., and gain more customers.
TDS,TCS, GST, E-Invoice & E-Way Bill – One-stop solution for your tax deducted at source, tax collected at source, and Electronic invoicing & E-Way bill.
Purchasing & Operations – Optimize and automate your procurement processes and bring efficiency in operational procedures with purchase requests, quotations, orders, and Down payment invoices and requests.
Batch Production & MRP – MRP and Production principles, BOM, Goods Issues, Goods Receipt are followed and bettered with SAP B1.
Formulation & Packaging – Advance Planning and Scheduling, Cost Calculation, compliance requirements all met by SAP B1.
Quality Control/Assurance – Manage Quality parameters like Product batch and lot quality. Also Delivery Performance, Claims accuracy, Product upgrades, and downgrades with the help of SAP B1.
Inventory & Warehousing – Access to real-time information regarding inventory levels, batch movement as well as goods receipts and goods issued, thereby streamlining the manufacturing process.
Export & Import –Upload, update master data, product information, transaction, and vendor data with the help of SAP B1.
Barcoding & Scanning – Get accuracy in stock counting and inventory management, and use batch and serial numbers in inventory tracking.
Plant & Maintenance – Purchasing, Financing, Billing, calculation of Assets, maintenance. Use SAP B1 to implement all of them and ensure that plant functions smoothly.
Mobility & Analytics – Power your decisions with business analytics features of SAP B1 and access on any device like iPad, mobiles, desktops, etc.
SkySurge – ERP Providers for Pharma Industry
SkySurge Business Solutions provides ERP solutions to SMBs by implementing solutions which cater to different needs of business domains. We help in implementing the ERP software for Pharma Industry quickly with utmost ease, by using the right tools in a comprehensive implementation methodology. SAP B1 is one such solution, developed by keeping in mind the specific requirements and complexities of the pharmaceutical industry.