How ERP Systems Are Changing the Game in the Pharmaceutical Industry
Modern medicine is deeply enmeshed in technology. Pharma companies today use various automated tools to optimize their internal processes, consolidate patient information, and provide more accessible treatment to different types of people. One of the most highly used and recommended tools in the pharmaceutical industry is ERP (enterprise resource planning) systems.
As its name suggests, ERP simplifies touchpoints at every stage of healthcare, from the manufacture of medicines to the supply chain to how various life-saving services are delivered to patients. Now, more than ever, pharma companies need a trusted, comprehensive, and effective ERP system to improve their operational visibility and strengthen their services to help more people.
Still, you may wonder if your pharma company needs an ERP. This article explains how an ERP system benefits the pharmaceutical industry and offers projections of its importance in a post-pandemic future.
What Is ERP?
To fully grasp the role of ERP systems in the pharmaceutical industry, it is important that you first understand what an enterprise resource planning software is. ERP systems comprise different programs that facilitate the management of business operations, from finances to supply chain. It is an essential tool for all industries across all sizes, though it plays a particular role in the medical field, where operational visibility is, conceivably, a life-and-death situation.
ERP helps you manage and automate routine functions within a singular tool so that you have a broad overview of your business. When you use the right ERP for your company, you limit human error caused by repetitive manual tasks or by inaccuracies from data not being updated in real time.
How Does ERP Help the Pharmaceutical Industry?
Previously, many pharma companies processed all their information by hand or through outdated systems that only managed one part of a workflow. For example, a company may have had one software simply for patient data and another software for finances. This lack of complete visibility across departments dramatically increased the risk of redundant or mismatched data, which could affect the level of care provided to patients.
ERP helps pharmaceutical leaders maintain a consistent level of care by optimizing business processes and offering access to real-time data. The integrated system also makes it easier for a company to immediately notice areas of improvement, whether that’s an inconsistent stock in a specific branch or a low compliance standard in another center.
In terms of profitability, ERPs can help monitor the sales and expenses of the company as a whole, as well as each individual branch under it. Even the total cost of producing a single item can be tracked through an ERP system, ensuring that a company’s finances can be carefully planned out and accurate projections can be made ahead of time.
But there are other, more specific ways ERP may benefit the pharmaceutical industry.
- ERP plays a critical role in the drug manufacturing process. If you manufacture your own medicines, you need to make sure that you follow various strict regulations to offer the best care to your patients. This means having clear drug production procedures and knowing what ingredients and in how much quantity is needed with each batch to reduce the margin of error. In addition, the system can help track the expiry date of any drug produced based on its manufacturing date. With the right ERP system in place, you will have more confidence that everything you manufacture is consistently of the highest quality.
- ERP helps you closely monitor the supply chain. An ERP system helps you closely monitor the supply chain, from how you source the raw materials to how the final product is distributed to various clinics. Because ERP is completely centralized, you will receive real-time data in case an abnormality is noticed. This allows you to take immediate action to resolve the concern. This is a crucial factor to consider, regardless of whether you manufacture drugs or are distributing them.
- ERP ensures effective inventory management. It is vital that pharma companies have efficient inventory management. With ERP, you reduce the risk of any bottlenecks in your supply chain, which may cause inconsistent inventory, especially in more rural areas. An ERP, such as SAP Business One, has robust traceability functions so that you know how much supply you need for each distribution point.
ANSI Helps Philippine Pharma Companies Provide High-Quality Care in the Post-Pandemic Future
The global pandemic highlighted the need for more efficient systems within the pharmaceutical industry. The modern patient is more particular about the level of care they receive and expects pharma companies to have accurate and reliable systems, from manufacture to distribution, so that all people receive the medicines they need. This is a crucial factor to consider in the Philippines, where healthcare needs to reach several thousand islands separated by bodies of water simultaneously.
In a non-contiguous land, Philippine pharma companies need to have the right software in place to continue serving patients. ANSI has been providing comprehensive information systems to the medical industry since 1987. It takes special pride in offering cost-effective and efficient solutions that meet the increasingly complex needs of the pharmaceutical industry, particularly as it moves toward the post-pandemic future.
Call us today to see how we can work together and continue providing quality healthcare to every Filipino.
