What are the Key Concepts of ERP Use in the Pharma Industry?

Across the pharmaceutical ecosystem, there are strict industry regulations that all businesses, large or small, must adhere to. And, so pharma companies are switching towards automated tools, like ERP system and supply chain management systems that can make manufacturing operations simpler and more effective.

Here are some important key concepts used with respect to the ERP for pharma industry: 

Batch management: Medicines/drugs are created in batches in the pharmaceutical industry. Batch management is a crucial component of an ERP system, which helps to monitor and regulate the production process from start to finish. 

Quality Control: Pharma makers must always maintain high standards of quality since human lives are on the stake. ERP software for pharmaceutical industry provides quality control modules that ensure that the medicines are produced in accordance with necessary quality standards.  

Inventory Management: ERP software helps to manage inventory efficiently by tracking the movement of raw materials, work-in-progress, and finished goods. The pharmaceutical industry is heavily regulated, and an pharma ERP software can help to ensure that the company complies with regulatory requirements.

Material Requirements Planning (MRP): MRP is a key feature of an ERP solution, which helps to ensure that the right materials are available at the right time, in the right quantity, and at the right cost.

Financial Management: Financial management capabilities such as accounts payable, accounts receivable, general ledger, and financial reporting, are essential for managing the finances of a pharmaceutical company.  

Supply Chain Management: ERP software can handle the entire supply chain, from the sourcing of raw materials to the delivery of finished products to customers.

As the significance of ERP for pharmaceutical sector continues to increase, successful business leaders will be those that are prepared to adopt these new technologies and implement whatever business process reengineering necessary to align their operations with new technology.  

One such solution is BatchMaster ERP for pharma which can help pharma makers achieve the same. After contacting BatchMaster, your search for a perfect process manufacturing ERP in Mumbai will come to an end!