Enterprise resource planning software is now becoming a fundamental part for parties to integrate their full business procedures. This article stresses on the advantages of enterprise resource planning (ERP) software in pharma industry.
Pharmaceutical manufacturers and companies need enterprise system to improve their business process.
To exist in highly competitive business environments, pharma companies have to continuously change their business procedures.
New terms in the marketplace have supplied a special stimulus to mould business processes over the last ten years like :
- 1. Product expansion
- 2. Competitive sales conditions
- 3. Development of global distribution networks
- 4. Setter informed customers
- 5. The orientation of businesses towards satisfying the needs of the customer
Therefore business process reengineering has often been utilized, and IT is a most effective way used to better business procedures. Modern information technology concentrates toward business processes and communications between persons using these processes.
Enterprise resource planning systems integrate and automate the main functionality of an organization thereby facilitating the flow of information among the different functions of an enterprise, while also permitting information sharing across organizational units irrespective of geographical locations.
The development of a modern ERP system to support these business operations began with projects intended to advance individual modules. The SAP (Systems, Applications and Products in Data Processing) solution took place in single stages, with two key areas of net income and cost center accounting enabling to better control of financial resources, forecasts and a new type of analysis.
The always increasing requirement for new and enhanced pharmaceutical products has resulted in a high competitive market therefore placing lots of pressure on pharmaceutical manufacturers in the Small and Medium Businesses to keep themselves with the ever-increasing demand for the production of such drugs in huge amounts. Also, they are restricted to tight norms laid down by government authorities. Pharmaceutical Business require the right ERP support to streamlined procurement of raw materials, reduced procurement and delivery cycle times, tracking of receivable and payments to suppliers for managing credit facilities, a decision support tool for management analysis and a collaborative portal for supply chain management.
So, planning best resources for ERP that resources comprise of four m's - money, man, material, and machine. By maximum utilization of these resources, the result in higher efficiency and better performance. Enterprise software help companies to best use their resources and man power to the most generative way. It acts as a connecting link between all the departments of the company. Hope, this piece of information will help you to understand the benefits and rewards of using ERP software in pharma companies.