Why Pharmaceutical Companies need an ERP?
Looking for smoother processes and higher revenue? Then ERP is the best investment that you will make for your business. With sudden changes in the norms, quick reaction to market forces, and several business challenges, this tool is essential to have in the process to provide you agility, flexibility, and efficiency.
But is that enough? And exactly why pharmaceutical companies need an ERP? Let us explore this in this blog.
How do ERP & Pharmaceutical Companies Fit?
Think for a second, what does your business need to have to survive and grow in the 21st century? Efficient processes, quick decision-making, real-time analytics, and central business management. Luckily, ERP offers you all this and much more. You can integrate ERP across multiple units, bring them in sync with each other, and monitor end-to-end operations from one dashboard.
The COVID-19 pandemic has taught us that not even pharmaceutical companies are safe from the sudden shift in market dynamics and need to adapt quickly. This quick adaptability comes with flexibility in the business process. But just flexible processes are not enough unless you can infer reliable and actionable data. That is why implementing SAP Business One ERP in UAE is essential so that you can automate these processes.
Why Pharmaceutical Companies Need ERP?
The ERP will help you integrate all processes into one system, keep track of quality, distribution channels, and so much more.
Here is an overview of why pharmaceutical companies should implement an ERP:
1. Inventory and material management
ERP for Pharmaceutical companies has modules customized for your business environment and regulations that monitor and manages your inventory to minimize waste and maximize optimum material use.
The ERP is integrated with inventory and production so that the system can identify materials along with production in real-time, set targets for utilization, create alerts for new order placing, etc.
2. Distribution management
With stringent regulations, you need to know which lot is where and the end-to-end journey of every single product. Say goodbye to paperwork because Pharma ERP has batch and lot tracking.
Every single movement of the product, right from the requisition (or when it was a raw material) is monitored and tracked till the time it passes quality check and gets loaded into the vehicle for dispatch.
3. Sales management
Today, clients want everything instantly and on-demand. And when you are maintaining spreadsheets or long manual registers, providing information on demand is a very tough task. But not with Pharma ERP.
The system eases sales management and customer relationship building by processing orders almost instantly, keep a check on sales goals, automatically update customer records across the system, maintain interaction history, migrate data from one ecosystem to new, and so much more.
ERP for pharmaceutical companies, at the outset, do the same thing for your business what technology does for others – create streamlined and automated workflows so that you can drive activities with high ROI and push profitability. Schedule a free call with Cogniscient to know how we help businesses like yours adapt SAP Business One for digital and transformational growth.