For many large pharmaceutical companies the struggle lies in end-to-end visibility throughout an organization. When visibility throughout an organization is siloed, out-of-date or unclear to those searching, maintaining product information and handling recalls becomes cumbersome and often times can result in noncompliance fees, wasted products and millions of dollars in damage to a company’s bottom line.
2 reasons pharma companies should invest in a modern ERP system:
1. Gain Supply Chain Visibility
Our last article, Put Down the Pencil — A Modern Solution for Batch Records mentions the benefits of having a complete system in place that garners all the functions of running a supply chain seamlessly on a single platform. Those who utilize a system such as this – Microsoft Dynamics 365 – gain real-time visibility across all areas of an organization. Visibility from finance to manufacturing with integrated information and workflows helps speed the movement of goods, eliminate waste due to costly shelf life expirations and returns, and improve production. Having these data sources that are no longer siloed allow users to gather the information needed to maximize capacity, help comply with regulatory demands, and drive continuous process improvements.2. Avoid Costly Recalls or Remain Prepared
A complete system will streamline reporting practices, as well validate data that can be trusted — decreasing your chances of human error. It will help you document standard processes, as well as track and log operations and results to meet reporting requirements. Because of efficient tracking capabilities, companies can implement effective recall procedures with complete forward and backward traceability whenever necessary. This will help reduce the manual processes and documentation that most companies rely upon for validation.
If you think that modern, cloud-based ERPs aren’t secure enough for pharmaceutical companies, read this white paper to learn how you can leverage the cloud while staying FDA-compliant!