Implementing ERP software in the pharmaceutical industry

Medical facilities and hospitals around the world are facing the need of handling large scale challenges both in terms of the number of cases they need to handle as well as the extensive management of records and finances. In order to carry out such tasks effectively, it is necessary to make use of healthcare ERP software solution programs. These software systems serve as the perfect platforms for identifying and tracking every single raw material used in the production, from the receipts through processing, the packaging and shipping and then finally delivering to exact customer location. These programs also help a medical facility to serve the patients in a better manner.

While the benefits of pharmaceuticals ERP solutions are known by medical facilities all around the world, many hospitals and pharmaceutical companies are yet to make use of these tools. The main reason behind that is the high cost factor of these programs. Good ERP programs are always costly and many companies operating within the medical industry are not clearly sure of how to make the most of such programs even if they somehow manage the financial aspect of implementing them. It is due to this reason that many providers of ERP programs are now coming up with their own training solutions that can help their clients to use and benefit from these programs.

When used correctly, a Pharmaceuticals ERP Solution can help manufacturers of pharmaceuticals to effortlessly track all of their properties while at the same time optimize and improve other business processes such as batch production, inventory control, quality assurance, sales functions, purchasing, financials, accounting and regulatory reporting. Here are some of the ways in which a Healthcare ERP Solution can be used.

Batch Process Record

The Batch Process Record is a process that involves keeping track of batch manufacturing rights from raw materials requisition until a release order is issued by Quality Assurance department. The ERP program can also handle In-progress quality Check (IPQC) as well as the Quality Assurance records for the batches after beginning and ending of each process.

Finance and Accounts Management

Since a pharmaceutical industry needs to handle large number of client details all the time, it is necessary to implement an ERP program for finance and accounts management. These programs can gather essential financial data from the different functional departments and come up with valuable financial reports like trial balance, balance sheet, quarterly financial reports, general ledgers, account statements, cost center wise analysis, gross profit analysis, profitability report, branch wise profit analysis, tax management, asset and depreciation management and ABC analysis.

Inventory and Materials Management

Implementing an ERP program can help a healthcare and pharmaceuticals firm to make use of a range of powerful and flexible features that can be used for managing and reporting all inventory information. This can help to maintain the proper levels of stock within a warehouse. Inventory control activities involve identifying the inventory requirements, developing targets, providing the replenishment options and techniques, monitoring the item usages, reconciling inventory balances as well as reporting inventory status.