ERP Software for Pharmaceutical Industry is a one-stop solution that provides a breadth of capabilities to streamline your complex pharma operations, optimize inventory levels, achieve quality excellence, and meet evolving compliance standards. Deploy it today to cut costs, reduce time-to-market, and capture new opportunities.
ERP for Pharmaceutical Industry is a single integrated system of interconnected modules that transform critical aspects of your pharmaceutical business and streamlines various activities from formula management, raw materials sourcing, production planning, demand forecasting, shop floor control, and work order management to distribution.
ERP Software helps you manage end-to-end processes, coordinate the flow of information across different departments, and empower decision-makers with Business Intelligence, Data Analytics, state-of-the-art technology, and powerful reporting functionality. It serves as the backbone of modern pharmaceutical companies operating in a highly-competitive business environment.
India is the world’s third-largest producer of pharma products by volume and the largest producer of generic medicines globally. India is home to over 10,500 pharma manufacturing plants. According to the data released by the Government of India, the Indian pharma industry is estimated to be $50 Billion in size. It is expected to reach $130 Billion by 2030. Moreover, India is leading the vaccine battle globally. It is among the few countries supplying low-cost vaccines to the world.
Mandatory government regulations make product traceability essential for pharmaceutical companies. Therefore, pharma companies must maintain a detailed record of all product transactions, including historical purchases. They also need to track the movement of goods — raw materials from the vendor to the inventory of pharmaceutical companies and finished products from the warehouse to the end-user. Thanks to the Online Procurement Management System, this process has been transformed completely.
Tracking operational, material, and manufacturing costs manually is challenging for pharmaceutical companies. On the other hand, ERP application in pharmaceutical industry calculates the final product cost by accounting for R&D cost, raw material cost, customer incentives, insurance costs, and much more.
Sage 300 ERP India allows users to create product categories based on the product’s management method — manufactured, purchased, generic, and sub-contracted, with their descriptions. You can define these products at a micro-level based on their unit of measure — Vial, Bottle, Strip, Ampoules. Also, users can enter the dimension, colour, expiry flag control, and the supplier’s code.
Purchase flow is divided into 3 categories:
Inventory Management System of Sage X3 provides a single platform through which users can manage the whole inventory — from raw materials to finished goods. A request screen contains all the supplier quotations and RFQs. Moreover, the purchase receipt feature allows replenishing the stock from the warehouse. Further, the software also tracks the quality inspection when the goods are received. If the quality of goods is not up to the mark, they are returned to the supplier, and a purchase return requisition is raised in the ERP system.
Sage X3 ERP in pharmaceutical industry efficiently manages warehouse products using a set of product codes for batch tracking. Warehouse Management software also keeps locations with similar criteria under one group. Users can view items stored inside each warehouse. They can dispatch them to the required distribution centre or arrange for a pick-up by wholesalers or retailers. The best part is that each transaction is recorded in the software. Moreover, you can also create various tabs in the dashboard, such as promotional goods, near-to-expiry, samples, expired material, and many more.
Pharmaceutical products are assigned batch numbers whenever there is an outward or inward material movement. Therefore, inventory valuation is done on an actual basis. Sage X3 ERP software for pharmaceutical industry comes with powerful LOT management capabilities and real-time inventory costing.
You can also assign an expiry date to the batches that have been produced through the First Expiry First Out (FEFO) basis. It helps allocate batches to a work order or a sales order automatically. However, users can manually assign batches if they want to change the LOT allocation.
Sage X3’s quality control module allows the user to track the quality of the entire manufacturing process — from the purchase of raw materials to manufacturing finished products. The quality control module in this ERP software is used at two places — Manufacturing receipt and PO receipt. The system has a technical sheet containing the products’ specifications that are supplied to the user. This sheet helps perform quality checks.
Sage X3 also allows updating the testing parameters at every product master. So, you can update different Pharmacopeia, such as the Indian Pharmacopeia, and US Pharmacopeia, using Sage X3.
The sales process in Sage X3 pharmaceutical ERP software begins by creating a sales quotation entry. A Sales order entry follows it. Then, the user can execute stock allocation to order followed by delivery entry in Sage X3 and finally generate a sales invoice. The pharmaceutical industry has several customer categories: doctors, stockists, government organisations, and hospitals
With the ever-increasing regulatory requirements, companies must ensure they are compliant with all applicable guidelines.
The Sage X3 ERP for pharma industry offers a comprehensive suite of solutions that streamlines the entire process of achieving and maintaining compliance with the various regulations.
Sage X3 business management software can provide access control for user accounts and limit access to certain functions and data. This useful feature in Cloud ERP makes sure that only authorized users have access to the data and reduces the risk of unauthorized information being accessed or altered.
It also –
In today’s time, brands are realizing the importance of producing high-quality and safe products that meet industry standards. ERP ensures that your final product goes through rigorous quality checks at every level to identify and rectify defects as soon as they’re discovered. Ultimately, this reduces the instances of customer returns. While ERP cost may seem like a significant investment, it pays off in the long-run.
Sage ERP software in India for manufacturing enables maintaining accurate quality assurance for pharmaceutical companies by-
Pharma ERP software has numerous pre-defined templates that allow for managing contracts and processing sales orders efficiently. CRM System maintains a massive repository of customer data and updates it regularly. Pharma ERP formulates competitive price quotes based on the following factors:
Once the sales order is ready, it creates automated workflows, thereby eliminating the special intervention from humans.
The marketing department can run promotional campaigns and monitor vital statistics in real-time. They can alter campaigns based on changing market patterns and implement strategies on-the-go. The ERP software for pharmaceutical manufacturing companies also breaks information silos and allows business-critical information to flow across departments. This enables departments to work as a cohesive force and further the interests of the company. Thanks to varied ERP modules available in a single solution, pharma companies to handle everything from one place and save time, effort, energy, and resources
The Project Management is an important benefit of the Pharma ERP Software. It provides superior tools for project planning, monitoring, and tracking, which are critical for the seamless execution of projects and reducing delays & potential bottlenecks. Decision-makers can also track the time spent on each task, assign priorities, and gain a comprehensive report of project performance.
Governments globally are constitutionalizing strict regulations and are penalizing companies that don’t adhere to such laws. Sage X3’s powerful regulatory compliance suite consists of features that will allow you to monitor the new and updated government guidelines and stick to them.
The following points detail how Sage X3 for pharmaceutical manufacturing will help you do so:
It’s a common practice in Pharmaceutical manufacturing businesses to buy raw materials in one unit of measure, store them in warehouses in another, convert them into finished products in one more, and finally sell them in another. It is possible only due to ERP systems. Sage X3 selects the appropriate weighing system and then converts values instantly. This helps to assess cost in terms of weight, potency, size, solid percentage, etc.
Sage X3 ERP for pharmaceutical manufacturing also takes product variations into account. When a solid converts into liquid or vice versa, its size, volume, area, potency, and other characteristics change. Sage X3 maps different Units Of Measure (UOM) with appropriate costs across the entire manufacturing schema and makes measurements convenient.
As a Pharmaceutical manufacturing company, you should select an ERP for pharmaceutical manufacturing software that conveniently manages your business’s requirements. ERP systems with a robust process manufacturing foundation, and that can take care of the degree of variability of products and manufacturing processes should top your search list. You must pay great attention to whether the ERP system will help you lower product manufacturing costs, improve scalability, provide better customer service, and can customize itself according to the situation at hand.
ERP in pharma is software that aids pharma companies in minimizing the production and delivery time. It also manages all sensitive data of the business operations.
Here are the benefits of ERP:
Sage 300 makes optimum utilization of all available resources, the result is higher efficiency and better performance. It can also track lot properties while optimizing and improving other business processes like batch production, sales functions, inventory control, purchasing, quality assurance, accounting and financials, financial statements, Bill of Materials (BoM), regulatory reporting, etc.
Inventory Control – Having the right amount of inventory at a particular time can be decisive to success and if inventory management is improved, waste can be decreased. Better Inventory Management is also the key to better and successful Customer Relationships.
Multinational Management Capabilities – Corporations are becoming increasingly global, and the ability to manage everything through a single streamlined software allows for expansion into new markets, supply of products globally, and location of new suppliers. Much like any other advantages of ERP, the Data Collection feature allows managers to stay up to speed with the latest industry trends by collecting and storing important customer, vendor, and prospect data in a single place. Sage ERP solutions provide real-time data accessibility from anywhere, any time, and from any device.
Process Manufacturing – One of the important functions of a Pharma company is the manufacturing of medicines. Even in helping to keep a record and streamline the manufacturing process, Sage ERP Solutions helps the manufacturers to keep service consistent and produce greater output. Control capabilities are in real-time, which allows for maximum efficiency.
ERP for Pharma Industry aids with production planning, capacity planning, and resource management, all of which result in minimal lead times and on-time production activity without disruption. With ERP Pharma, your organization will benefit from reduced cost, reduced waste, lower machine idle times, and improved efficiency & productivity. Preplanned production activities often result in consistency in the quality of the final output and improved brand reputation.
Product Recall is a process of taking back goods from the market after the discovery of defects or potential safety hazards. ERP for pharmaceuticals in India keeps a complete database of all the products including the source of their raw materials, and brings full visibility into the supply chain operation. It helps you build an Action Plan, and better handle the recall process to minimize harm, comply with the regulatory standards, and preserve brand reputation.
Demand planning (also called Demand Optimization) is a crucial marketing strategy adopted by businesses of all types and sizes. Effectively planning and forecasting demand is key to reducing inventory storage costs, and preventing yourself from running out of stock. Pharma Manufacturing Software allows businesses to predict market sentiments and keep up with the latest trends & patterns to ensure maximum customer satisfaction.
The sales order is fed into the Sales Management System of Sage X3, supplemented with a delivery and sales invoice. Also, maintaining appropriate control over the sales of pharmaceutical products is required by drug law authorities. Sage X3 pharmaceutical manufacturing software has many features like Drug license expiry date, Drug license number, and credit control that allow checking these statutory records conveniently. This pharmaceutical ERP also has a fail-safe mechanism. It can put an order on hold if the earlier records don’t match the required sales order. The order can be un-holded again once the approval process is complete. Therefore, there is no possibility of a data entry error.
Schedule Product Tour
"*" indicates required fields
